SJM Resorts revenue at HKD9.6b in 2021

The net gaming revenue earned by SJM Resorts was HKD9.608 billion in 2021, compared to HKD7.304 billion for 2020, according to a recent financial report. 

The company lost HKD4.144 billion, compared to a loss HKD3.025 billion for 2020.
Gross revenue of the Grand Lisboa Palace was HKD370 million, including gross gaming revenue (GGR) of HKD200 million and non-gaming revenue of HKD170 million. 

Meanwhile, Grand Lisboa’s gross revenue was HKD2.322 billion, including GGR of HKD2.152 billion and non-gaming revenue of HKD170 million, compared to GGR of HKD2.067 billion and non-gaming revenue of HKD111 million for the year 2020.

Ambrose So, vice-chairman and CEO of SJM Holdings Limited, commented, “During 2021 SJM achieved annual increases in business volumes, although subject to the challenges of the pandemic for the full year. Since July 30 our Grand Lisboa Palace Resort has been welcoming patrons with a premium array of new attractions.”

The group has a revolving credit facility of HKD10 billion, of which HKD1.3 billion was undrawn as of December 31, 2021.

On February 28, the group extended the maturity of its syndicated banking facilities until February 28, 2023. These originally consisted of a HKD15 billion term loan and a HKD10 billion revolving credit, of which HKD13.3 billion was outstanding. According to the announcement, the group expects to complete a refinancing of these facilities in the coming quarter.

SJM had a 12.3% share of Macau’s GGR, including 16.3% of mass market table gaming revenue and 4.9% of VIP gaming revenue. LV