SJM swings from profit to a HK$62 mln loss in Q1

Macau casino operator SJM (0880) said on Thursday that it swung to a loss of HK$62 million in the first quarter this year, compared with a profit of HK$31 million from a year ago.

The company's adjusted earnings before interest, taxation, depreciation, and amortization declined 4.28 percent year-on-year to HK$917 million, according to an exchange filing.

Its total net revenue fell 21.1 percent to HK$5.9 billion during the period, among which net gaming revenue decreased by 22.8 percent to HK$5.36 billion.

Rolling gross gaming income rose 16.1 percent to 744.6 million, while non-rolling gross gaming and electronic game gross gaming revenue dropped 21.3 percent and 27.9 percent, respectively.

SJM's shares have fallen 13.2 percent so far.

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