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SJM Holdings ( (HK:0880) ) just unveiled an announcement.
SJM Holdings Limited announced plans to acquire properties for Casino L’Arc Macau and Casino Ponte 16 as part of its strategy to align with revised Macau gaming laws. The company will cease operations at seven satellite casinos by the end of 2025, reallocating gaming resources to its directly owned casinos. SJM is committed to maintaining local employment, offering job opportunities within its portfolio to affected workers. The Board does not foresee any significant adverse effects on the company’s operations or profitability due to these changes.
The most recent analyst rating on (HK:0880) stock is a Sell with a HK$2.85 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, through its principal subsidiary SJM Resorts, S.A., operates in the gaming industry, primarily focusing on casino games of fortune in Macau. The company owns and operates several casinos, including Casino Lisboa, Casino Grand Lisboa, Casino Grand Lisboa Palace, and Casino Oceanus at Jai Alai, and manages nine satellite casinos.
YTD Price Performance: -13.01%
Average Trading Volume: 11,660,090
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$16.62B
See more insights into 0880 stock on TipRanks’ Stock Analysis page.