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SJM Holdings Swings to 2025 Loss as EBITDA Slips and Debt Looms

Story Highlights
  • SJM Holdings fell to a HK$429 million loss in 2025 as net gaming revenue and EBITDA declined and the board again skipped a final dividend.
  • Grand Lisboa and Grand Lisboa Palace saw solid revenue and hotel metrics but weaker property EBITDA, while high leverage continues to weigh on SJM’s financial flexibility.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
SJM Holdings Swings to 2025 Loss as EBITDA Slips and Debt Looms

Meet Samuel – Your Personal Investing Prophet

SJM Holdings ( (HK:0880) ) just unveiled an update.

SJM Holdings reported a weak 2025, as net gaming revenue slipped 2.4% to HK$26.2 billion and adjusted EBITDA fell 15% to HK$3.2 billion, swinging from a small profit to a HK$429 million loss attributable to shareholders. The board again opted against a final dividend, and while SJM retained an 11.9% share of Macau’s gross gaming revenue, profitability pressure at its flagship properties and a heavy HK$29.3 billion debt load underscore ongoing financial constraints.

Grand Lisboa Palace Resort generated HK$7.37 billion in gross revenue with improved gaming takings but a sharp drop in adjusted property EBITDA to HK$165 million, while Grand Lisboa delivered HK$7.70 billion in gross revenue and lower yet still robust property EBITDA of HK$1.76 billion. High occupancy and rising room rates at both hotels signal solid demand, but the limited HK$3.6 billion headroom on syndicated facilities highlights the need for tighter cost control and balance-sheet discipline in a still-normalizing Macau gaming environment.

The most recent analyst rating on (HK:0880) stock is a Hold with a HK$2.50 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 is a Macau-based gaming and hospitality group operating casinos and integrated resorts, including Grand Lisboa and Grand Lisboa Palace. Its core business is mass-market and VIP gaming alongside hotel, catering, retail and other non-gaming services, with a focus on capturing share in Macau’s competitive casino market.

Average Trading Volume: 12,740,391

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$16.9B

Find detailed analytics on 0880 stock on TipRanks’ Stock Analysis page.

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