SJM reports Q1 revenue of HK$5.90bn as EBITDA margin improves to 15.5%
Strategic shift to self-operations drives efficiency despite lower gaming revenue.
1 min read • May 8 • By
Keih Ma
Kanggiten
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AMATIC Online
Kanggiten
bet365 Partners
Bally’s Intralot
GammaPlus
BetConstruct
Galaxsys
SmartSoft
JDB Gaming
DYG
GammaSweep
N1 Partners
GR8_TECH
Z-Gaming
Global Gaming Awards
Imagine Live
OMNIPLAY
ReferOn
Logifuture
GammaStack
1spin4win
AMATIC Online
Strategic shift to self-operations drives efficiency despite lower gaming revenue.
Despite the fall in net revenue year-over-year, Full House Resorts witnessed 14.7% adjusted EBITDA growth to nearly $13.2m, while the operator’s net loss improved by 16.5% to $8.2m.
The operator also managed to increase adjusted EBITDAR by 5.5% to $562.4m, including 4.1% year-over-year growth from Las Vegas operations' EBITDAR for a total of $232.5m.
The operator’s Q1 2026 net income represents an increase from the $33.9m loss reported for the prior year period, while DraftKings’ adjusted EBITDA rose 63.6% to nearly $167.9m.
Codere Online reported record quarterly net gaming revenue of €64.4m in Q1 2026, up 13% year-over-year, while adjusted EBITDA more than tripled to €6.0m.
The operator expects 2026 adjusted EBITDA to reach the top end of guidance after online bets rose 15% year-on-year.
Melco’s City of Dreams Mediterranean generated the largest share of earnings, accounting for 86% of total GGR in 2025.
Operating income rebounds sequentially, while early Q2 gaming activity strengthens.
The supplier’s consolidated AEBITDA for Q1 2026 increased 5% to $327m, mainly driven by gaming AEBITDA which accounted for $271m and rose 7% from the prior year period.
The operator’s adjusted EBITDA managed to rise 2% for a total of $631m, while FanDuel revenue increased 6% to nearly $1.8bn, despite handle falling 9% to $13.4bn.