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SJM’s net revenue climbs 174% year-on-year in third quarter to HK$2.41 billion

CEO Ambrose So hails summer opening of Grand Lisboa Palace and significant improvement in operating results.

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CEO Ambrose So hails summer opening of Grand Lisboa Palace and significant improvement in operating results.

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PUBLISHED

UPDATED: 22 Dec 2023, 4:43 am

SJM Holdings’ total net revenue rose by 174.3 per cent year-on-year to HK$2.41 billion in the third quarter, when its net gaming revenue grew by 170.6 per cent to HK$2.27 billion. 

The casino operator’s adjusted EBITDA in the third quarter was negative HK$460 million, as compared with negative HK$782 million in the same quarter of last year.

Loss attributable to the company’s owners in the third quarter was HK$1.24 billion, as compared with a loss of HK$1.03 billion in the same quarter of last year. 

SJM Holdings had HK$2.79 billion of cash, bank balances, short-term bank deposits and pledged bank deposits and HK$20.4 billion of debts as of 30 September, as well as a revolving credit facility of HK$10 billion, of which HK$4.9 billion was undrawn as of that day.

Vice-Chairman and CEO Ambrose So commented that the third quarter “market a major milestone in SJM’s history with the opening on 30 July of our Grand Lisboa Palace in Cotai,” adding that the company’s “operating results for the third quarter and year-to-date registered improvements over 2020”.

 

UPDATED: 22 Dec 2023, 4:43 am

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