• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 9 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

SJM Resorts reports flat sequential GGR of US$885 million in 2Q24 as Cotai IR continues to ramp

Ben Blaschke by Ben Blaschke
Tue 27 Aug 2024 at 18:22
Less than one month remaining to MGS Summit 2022
20
SHARES
494
VIEWS
Print Friendly, PDF & Email

Macau concessionaire SJM Holdings has reported group-wide gross gaming revenues of HK$6.90 billion (US$885 million) in the three months to 30 June 2024, flat compared with the March 2024 quarter but up 30.5% versus the same period in 2023. Non-gaming revenue of HK$448 million (US$57.4 million) was down 1.8% sequentially but up 20.7% year-on-year, while Adjusted EBITDA of HK$871 million (US$112 million) more than doubled the 2Q23 result.

Net loss for the first six months of the year came in at HK$162 million (US$20.8 million), narrowed from HK$1.26 billion (US$162 million) a year earlier.

SJM’s 2Q24 result included steady growth at Cotai integrated resort Grand Lisboa Palace, where GGR grew by 9.3% quarter-on-quarter and 67.5% year-on-year to HK$1.21 billion (US$155 million) – enough to grow the property’s market share to 2.2%. Adjusted Property EBITDA reached HK$104 million (US$13.3 million).

Peninsula property Grand Lisboa was more subdued as GGR declined 5.0% quarter-on-quarter to HK$1.78 billion (US$228 million) on declines in all gaming segments. Adjusted Property EBITDA of HK$475 million (US$60.9 million) was down 11.2% quarter-on-quarter but still 50.1% higher than the same period last year.

At self-promoted casinos Jai Alai and Sofitel at Ponte 16, GGR was flat quarter-on-quarter at HK$1.26 billion (US$162 million) – up 11.3% year-on-year – while Adjusted Property EBITDA was slightly down both quarter-on-quarter and year-on-year to HK$315 million (US$40.4 million).

And at SJM’s satellite casinos, GGR was again flat quarter-on-quarter but up 26.3% year-on-year to HK$2.64 billion (US$338 million), with Adjusted Property EBITDA of HK$22 million (US$2.8 million).

Group-wide, SJM said its mass gaming segment enjoyed a slight 1.1% sequential and 32.7% year-on-year increase in GGR to HK$5.78 billion (US$741 million), with Electronic Gaming Machines performed strongly, up 10.1% and 39.9% respectively to HK$589 million (US$75.5 million). Rolling GGR was more challenged, down 17.5% quarter-on-quarter and up just 4.0% year-on-year to HK$532 million (US$68.2 million).

For the first six months of 2024 combined, group-wide GGR grew by 50.3% year-on-year to HK$13.8 billion (US$1.77 billion) while market share climbed from 11.8% to 12.5%.

RelatedPosts

Japan Credit Rating Agency affirms Konami’s A+ rating due to “high earning capacity”

Stability in Australia, North America drives 7.4% revenue growth for Konami’s gaming segment in FY25

Fri 9 May 2025 at 06:48
Winds of change

Melco says working with potential buyers on bidding process for City of Dreams Manila

Fri 9 May 2025 at 06:16
Melco prices US$750 million Senior Notes offering

Melco smashes revenue and profit estimates in 1Q25, gains market share on powerful performance of Macau resorts

Fri 9 May 2025 at 05:36
Galaxy Macau to host 2025 Annual Conference of the FIA – world motorsport’s governing body

Favorable VIP hold pushes Galaxy Entertainment Group’s 1Q25 profit to US$412 million

Thu 8 May 2025 at 14:03
Load More
Tags: 2024Gaminggross gaming revenueMacauSJM HoldingsSJM Resorts
Share8Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Japan Credit Rating Agency affirms Konami’s A+ rating due to “high earning capacity”

Stability in Australia, North America drives 7.4% revenue growth for Konami’s gaming segment in FY25

by Newsdesk
Fri 9 May 2025 at 06:48

Global gaming supplier Konami reported a 7.4% increase in revenue in its Gaming & Systems segment to JPY42.7 billion in the year ended 31 March 2025, with operating profit up by 16.3% to JPY7.3 billion, according to financial statements published...

MGM’s Hornbuckle bullish on “unique” Macau as China stimulus uncertainty sees gaming stocks dive

MGM’s Bill Hornbuckle extends employment contract through end-2028

by Ben Blaschke
Fri 9 May 2025 at 06:34

MGM Resorts CEO and President Bill Hornbuckle has renewed his employment contract with the company through to the end of 2028, after which time he will assume an advisory role to assist with the pre-opening phase of its US$9 billion...

Winds of change

Melco says working with potential buyers on bidding process for City of Dreams Manila

by Ben Blaschke
Fri 9 May 2025 at 06:16

Melco Resorts & Entertainment said Thursday that it is currently in discussions with potential buyers of its stake in Philippines integrated resort City of Dreams Manila and will soon have a shortlist of interested parties that will partake in a...

Melco prices US$750 million Senior Notes offering

Melco smashes revenue and profit estimates in 1Q25, gains market share on powerful performance of Macau resorts

by Ben Blaschke
Fri 9 May 2025 at 05:36

An impressively strong performance in Macau was enough to see Melco Resorts & Entertainment comfortably beat consensus in 1Q25, with the company reporting a 10.8% year-on-year increase in total operating revenues to US$1.23 billion including a 12.2% rise in gaming...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English