Appointment comes as Macao’s oldest gaming operator aligns itself with government’s new regulations in run-up to granting concessions by year’s end.
SJM Holdings Limited
Extra funds required to meet tendering terms; chairman Daisy Ho says company in strong position to win 10-year concession starting next year.
Company refinanced its syndicated banking facilities last month, with HK$9 billion term loan and HK$10 billion revolving credit.
Rating agency’s move comes as gaming operator seeks new HK$19 billion loan amid uncertainty surrounding industry’s future in Macao.
SJM Holdings Limited announced today that its adjusted EBITDA declined year-on-year to a negative HK$200 million in the first quarter, a decrease of 118.6%.