SJM returns to profitability in 2024

Gaming operator SJM Holdings Limited has reported a return to profitability in 2024, marking a turnaround from previous pandemic-related losses.

The company’s audited financial results show a net profit of HKD3 million, reversing a loss of HKD2.01 billion in 2023.

“We are pleased to report a solid year for SJM, marking a significant inflection point as we return to profitability for the first time since the pandemic,” said Daisy Ho, chairman of SJM Holdings.

“This achievement reflects our disciplined execution, operational efficiencies, and commitment to long-term sustainable growth.”

SJM’s total gross gaming revenue (GGR) climbed to HKD28.82 billion, a 35.9% year-on-year increase. Its market share rose to 13.1%, driven in part by the success of Grand Lisboa Palace Resort Macau, which saw its share increase to 2.4%.

Meanwhile, in a statement, SJM said it plans further investments, including the expansion of its MICE (meetings, incentives, conferences, and exhibitions) facilities and the development of a three-star hotel in Hengqin.

The company is also enhancing its entertainment and dining experiences, with seven new restaurants set to open at Grand Lisboa Palace Resort.

“In the first half of 2025, SJM will expand its cultural offerings at Grand Lisboa Palace Resort with the launch of a resident show and a permanent art gallery, enriching the property’s entertainment and cultural portfolio,” the gaming operator said.