SJM consolidates satellite casinos into expanded Lisboa floor

SJM Holdings Limited announced yesterday that its subsidiary, SJM Resorts, will acquire about 7,504 square metres of floor space at Hotel Lisboa for HKD529 million to support the expansion of Casino Lisboa.

The deal, reached with the company’s controlling shareholder, Sociedade de Turismo e Diversões de Macau (STDM), will also allow the transfer of gaming assets from satellite casinos scheduled to close by the end of 2025.

The newly acquired property consists of former gaming areas and will accommodate additional gaming tables and slot machines transferred from SJM’s smaller satellite venues.

The company said the move is designed to improve operating efficiency and generate stronger returns by concentrating high-volume gaming activity in a flagship location.

Hotel Lisboa and Grand Lisboa have been undergoing renovation and upgrade programs since late 2024.

Grand Lisboa has converted former junket spaces into premium suites, villas, and mansions, while Hotel Lisboa has refreshed accommodations and attractions.

In a statement, Daisy Ho, chairman and executive director of SJM Holdings and managing director of SJM Resorts, said the acquisition is part of a broader strategy to strengthen the brand’s competitiveness and retain customers from closed satellite casinos.

Back in June, amid the closure announcements of satellite casinos, SJM Holdings announced plans to close seven of its nine satellite casinos – Casa Real, Emperor Palace, Fortuna, Grandview, Kam Pek Paradise, Landmark, and Legend Palace – while it also intends to acquire Ponte 16 and L’Arc Macau, pending government approval.

JP Morgan described the closures as a “negative surprise” in a memo, noting that the transition will be more complex for SJM Holdings than for Galaxy and Melco – the other two gaming operators that also operate satellite casinos.

Meanwhile, SJM Holdings reported a 6% increase in net revenue for the first half of 2025, reaching HKD14.63 billion.