SJM Report 194% Fall In Profits For Year

Macau casino operator SJM Holdings has announced its full year earnings for 2020, the company founded by the late Stanley Ho said it recorded a loss of HK$3.03 billion, which is a fall of 194% compared to the previous year’s figures.

Net gaming revenues were no better showing a 78% drop to HK$7.3 billion, with adjusted EBITDA showing a loss of HK$2.1 billion.

SJM is the largest casino operator in Macau with a market share of 14% of all gross gaming revenues, 205 of all mass market revenues and 85 of VIP gambling.

SJM said of the results: “The Group was severely impacted by the COVID-19 outbreak, which led to closure of Macau casinos for 15 days in February, as well as ongoing restrictions on entry from the Mainland, Hong Kong and other locations, curtailment of transportation channels and quarantine requirements.”