SJM Holdings ( (SJMHF) ) has released its Q1 earnings. Here is a breakdown of the information SJM Holdings presented to its investors.
SJM Holdings Limited is a prominent player in the gaming and hospitality industry, primarily operating in Macau, with a diverse portfolio of casinos and integrated resorts.
In the first quarter of 2025, SJM Holdings reported a notable increase in net gaming revenue and a return to profitability, reflecting a positive shift from the previous year’s performance. The company highlighted significant growth in both gaming and non-gaming segments across its properties.
Key financial metrics for Q1 2025 showed a net gaming revenue of HK$6,949 million, a 7.5% increase from the previous year. The adjusted EBITDA rose to HK$958 million, marking a 10.9% improvement. The Grand Lisboa Palace Resort and Grand Lisboa both contributed significantly to the revenue, with the former showing a 36.2% increase in total revenue. Despite a slight decline in Grand Lisboa’s casino revenue, the overall performance was bolstered by strong non-gaming activities and electronic game revenue.
The company ended the quarter with HK$3,232 million in cash and bank balances, alongside a substantial debt of HK$26,739 million. The available undrawn credit facilities provide additional financial flexibility for future operations and investments.
Looking ahead, SJM Holdings remains cautiously optimistic about its growth trajectory, focusing on enhancing its integrated resort offerings and capitalizing on the recovery of the gaming sector in Macau.