Macau concessionaire SJM Holdings reported gross gaming revenue of HK$6.89 billion (US$881 million) in the three months to 31 March 2024, up 77.3% year-on-year and continuing the company’s steady recovery since borders reopened in early 2023.
SJM also reported a narrowed loss attributable to owners of the company of HK$74 million (US$9.5 million) compared with a HK$869 million (US$111 million) loss a year earlier, while Adjusted EBITDA increased to HK$864 million (US$110 million) versus HK$31 million in 1Q23.
The improved performance was evidenced across the board but nowhere more so than at SJM’s Cotai integrated resort, Grand Lisboa Palace, where GGR grew by 258% year-on-year to HK$1.11 billion (US$142 million).
