SJM Holdings Slips to Q1 Loss as Gaming Revenue Declines but Margins Improve

SJM Holdings ( (HK:0880) ) has issued an update.

SJM Holdings reported a decline in net gaming revenue to HK$5.36 billion for the first quarter of 2026 from HK$6.95 billion a year earlier, while Adjusted EBITDA eased slightly to HK$917 million but saw margin improvement to 15.5% from 12.8%. The group swung to a loss attributable to owners of HK$62 million versus a prior-year profit of HK$31 million, reflecting softer top-line performance despite better operating efficiency.

At the property level, Grand Lisboa Palace Resort Macau posted gross revenue of HK$2.07 billion with weaker Adjusted Property EBITDA of HK$58 million, while Grand Lisboa Macau generated HK$2.00 billion in gross revenue and relatively stable Adjusted Property EBITDA of HK$425 million. The group ended March 2026 with HK$3.41 billion in cash and equivalents against HK$30.21 billion of debt, with HK$3.4 billion of its HK$22.4 billion syndicated banking facilities still available, underscoring a leveraged but liquid balance sheet as it navigates a softer gaming revenue environment.

The most recent analyst rating on (HK:0880) stock is a Sell with a HK$1.80 price target. To see the full list of analyst forecasts on SJM Holdings stock, see the HK:0880 Stock Forecast page.

More about SJM Holdings

SJM Holdings Limited is a Macau-based gaming and entertainment operator focused on casino gaming and integrated resort services. The group operates flagship properties including Grand Lisboa Macau and Grand Lisboa Palace Resort Macau, generating revenues from gaming activities alongside hotel, catering, retail, leasing and related non-gaming services.

Average Trading Volume: 10,649,643

Technical Sentiment Signal: Sell

Current Market Cap: HK$14.56B

For detailed information about 0880 stock, go to TipRanks’ Stock Analysis page.