SJM Holdings has reported unaudited Q3 results showing profit of HK$9m (US$1.15m) attributable to shareholders, marking a 91.1% year-on-year decline as the group continued the phased cessation of satellite casino operations.
Total net revenue stood at HK$7.03bn, down 6.2% from the same period last year, while gross gaming revenue (GGR) slipped 4.7% to HK$7.14bn.
Adjusted EBITDA reached HK$881m, a 15% year-on-year decrease but up 28% quarter-on-quarter, reflecting cost optimisation and improved operational efficiency.
According to SJM Chairwoman and Executive Director Daisy Ho, the group faced "significant headwinds" during the transition, but resource realignment and restructuring efforts are "laying a stronger foundation for 2026."
Self-promoted casinos, however, achieved HK$4.79bn in GGR, up 0.9% year-on-year and recorded non-rolling GGR at 98.8% of pre-pandemic 2019 levels.
At Grand Lisboa Palace Resort Macau, total revenue grew to HK$1.91bn, with non-gaming contributions of HK$329m and property EBITDA rebounding to HK$111m. Meanwhile, Grand Lisboa Macau recorded HK$2bn in total revenue and HK$471m in adjusted EBITDA.
SJM closed the quarter with HK$3.45bn in cash and deposits and HK$27.31bn in total debt.
The group is advancing strategic projects including the HK$529m acquisition of former gaming areas at Hotel Lisboa and the purchase of properties near Hengqin Port for hotel conversion, aimed at enhancing cross-border tourism and diversifying revenue streams.
Market share declined from 13.9% to 11.8%, primarily due to reduced satellite casino activity
