SJM Holdings H1 2024 revenue increases 47.4% year-on-year
The group’s total revenue of HK$13.8bn ($1.77bn) fell short of its pre-pandemic record of HK$17bn in 2019, however.
SJM Holdings, one of Macau’s ‘Big Six’ concessionaires, has announced its financial revenue for H1 2024.
Total net revenue was HK$13.8bn ($1.77bn), a 47.4% year-on-year increase but lower than the HK$17bn of 2019.
Gross gaming revenue (GGR) stood at HK$13.8bn, a 50.3% year-on-year increase, but still lower than its 2019 results of HK$20.4bn. Non-gaming revenue, though, saw a significant increase to HK$904m, a 35.7% year-on-year increase and almost triple its 2019 recorded sum of HK$354m.
Adjusted EBITDA was at HK$1.73bn, a significant increase of 275.9% year-on-year, with an adjusted EBITDA margin of 12.6%, an increase of 7.7pts.
Average hotel occupancy was 94.2%, a percentage higher than 2023’s 85.9%, as well as 2019’s 88.4%.
Of SJM’s businesses, Grand Lisboa Palace’s gross revenue of HK$2.95bn, second to Grand Lisboa Macau’s revenue of HK$3,800m. Other contributing revenue included self-promoted casinos with a 135.4% increase in non-rolling GGR.
Daisy Ho, Chairman of SJM Holdings Limited and Managing Director of SJM Resorts, said the group has made significant progress in both gaming and non-gaming sectors and will be intensifying its efforts on its food and beverage portfolio.
It will also be advancing the initial phase of the Kam Pek Market revitalisation plan and hosting various branded sporting competitions to “elevate the Lisboa brand’s international profile to extend Macau’s influence in global markets.”
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