SJM Holdings reports 47% rise in H1 revenues

Casino operator SJM Holdings has announced a significant increase in net revenue for the first half of 2024, reporting a year-on-year growth exceeding 47%, along with a 50% rise in gross gaming revenue (GGR).

The results were cited in an unaudited statement released yesterday, revealing that the total net revenue for the first half reached HKD13.8 billion, compared to HKD9.36 billion during the same time frame in 2023.

When evaluating the results against the same period in 2019, the figures indicate a recovery of 81%.

The “hotel, catering, retail and leasing operations” segment also posted a promising growth of 35.7% in revenue, vis-à-vis the last six months of 2023. The average occupancy rate for the period was 94.2%, and 85.9% for the last six months of 2023.

Daisy Ho, chairman of SJM Holdings Limited and managing director of SJM Resorts, S.A., remarked: “Throughout the first half of 2024, the Group made significant progress in both gaming and non-gaming sectors, achieving steady growth through continuous innovation and service optimization.

“Moving into the latter part of the year, we will intensify our efforts to broaden our food and beverage portfolio, launching a variety of new destination dining outlets and exclusive gastronomic events, alongside advancing the initial phase of the Kam Pek Market revitalization plan,” she added.

The gaming operator added it will be hosting various branded sporting competitions, in the realms of wushu, golf, and tennis.