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SJM Holdings records a profit in the third quarter

In its latest results, the casino operator says its third quarter performance is back in the black, while total losses for the first three quarters have shrunk
  • Revenue is also up considerably, rising to almost HK$7 billion in the third quarter, compared to HK$5.4 billion in the same period last year

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PUBLISHED

ARTICLE BY

PUBLISHED

UPDATED: 13 Nov 2024, 8:28 am

SJM Holdings Limited has released selected financial indicators for the third quarter of the year and for the first three quarters.

In a regulatory filing, the casino operator says that net gaming revenue in the third quarter was HK$6.9 billion, as compared with HK$5.4 billion in the same period a year ago. For the nine months that ended on 30 September, net gaming revenue was HK$19.9 billion, compared with HK$14.1 billion in the first nine months of 2023.

Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) in the third quarter stood at HK$1.04 billion, as compared with HK$566 million in the same quarter a year ago, while for the first nine months of the year adjusted EBITDA was HK$2.8 billion, as compared with HK$1.03 billion in the first three quarters of 2023.

[See more: Non-gaming visitor spending has climbed 8 percent year-on-year]

Profits in the third quarter stood at HK$101 million, as compared with a loss of HK$410 million in the same period last year, while for the nine months that ended on 30 September 2024, a loss of HK$61 million was recorded, down from the loss of HK$1.7 billion made in the comparable period of 2023.

The gross revenue at Grand Lisboa Palace in the third quarter of the year was HK$1.8 billion, including gross gaming revenue of HK$1.4 billion and non-gaming revenue of HK$354 million. This compared with gross gaming revenue of HK$783 million and non-gaming revenue of HK$301 million in the same quarter of 2023. 

At the Grand Lisboa, gross revenue in the third quarter stood at HK$2.02 billion, including gross gaming revenue of HK$1.94 billion and non-gaming revenue of HK$74 million, as compared with gross gaming revenue of HK$1.47 billion and non-gaming revenue of HK$81 million in the same period last year. 

UPDATED: 13 Nov 2024, 8:28 am