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SJM losses hit HK$4.1 billion in 2021

Gaming concessionaire reports mixed results for the year when it opened its new trophy property, Grand Lisboa Palace.

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Gaming concessionaire reports mixed results for the year when it opened its new trophy property, Grand Lisboa Palace.

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PUBLISHED

UPDATED: 22 Dec 2023, 4:41 am

Hong Kong-listed gaming resort operator SJM Holdings has reported that its net gaming revenue reached HK$9.6 billion last year, a year-on-year growth of 31.5 per cent. 

The company’s hotel, catering, retail and other income increased by 64.7 per cent to HK$592 million. 

Adjusted EBITDA was negative HK$1.58 billion, as compared with negative HK$2.09 billion in 2020. 

Loss attributable to the owners of the company amounted to HK$4.1 billion last year. In 2020, the loss stood at HK$3.0 billion. 

SJM estimated that it had a 12.3 per cent share of Macao’s gross gaming revenue among the city’s six gaming operators – 16.3 per cent of mass market table gaming revenue and 4.9 per cent of VIP gaming revenue. 

The company’s total investment in its Grand Lisboa Palace resort in Cotai was HK$38.2 billion. The deluxe resort opened its doors to the public on 30 July 2021. 

SJM Holdings Vice-Chairman and CEO Ambrose So Shu Fai commented that “during 2021 SJM achieved annual increases in business volumes, although subject to the challenges of the pandemic for the full year.” 

 

UPDATED: 22 Dec 2023, 4:41 am

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