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Mergers & Acquisitions

SJM H1 net gaming revenue rises 19.4%

Hong Kong-listed SJM Holdings had announced that total group net revenue rose 19.4% year-on-year to HK$5.22bn in the first half of 2021.

2021

The results come after SJM Holdings opened the $5bn Grand Lisboa Palace in Cotai.

The group’s net gaming revenue increased by 18.8% to HK$5,076m in the same period a year earlier.

Adjusted EBITDA improved by 48.2% to negative HK$510m, from negative HK$984m.

Loss attributable to the owners of the company was HK$1,466m, 3.8% greater than HK$1,412m in the first six months of the year.

Mass market gross table gaming revenue of the group increased by 33.2% and VIP gross gaming revenue showed a decrease of 37.5% during the first half of 2021.

During the same period, slot machine gross revenue increased by 12.7% compared with the year-earlier period.

SJM  had an 11.6% share of Macau’s gaming revenue in the first half of the year, including 15.6% of mass market table gross gaming revenue and 5% of VIP gross gaming revenue.

The group had cash, bank balances, short-term bank deposits and pledged bank deposits of HK$2,709m as of 30 June 2021.   Recently, SJM stated that its newly opened Grand Lisboa Palace will aim to break even in a year or less.
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