SJM narrows loss to $410m

Staff reporter

Macau casino operator SJM Holdings (0880) reported that its net loss fell 78.4 percent year-on-year to HK$410 million for the third quarter ended September, compared to a HK$1.9 billion loss in the same period of last year.

Adjusted earnings before interest, taxation, depreciation and amortization reached HK$566 million, contrasting with a negative figure of HK$968 million the previous year.

The third-quarter net gaming revenue surged by 492.9 percent year-on-year, reaching HK$5.41 billion.

Daisy Ho Chiu-fung, the chairperson of SJM, said that throughout the quarter, they remained actively committed to supporting the economic diversification of Macau through their investments and sponsorships in cultural, educational, gastronomic and sports activities.

Meanwhile, Macau's real gross domestic product in the first half reached 71.5 percent, with the overall economic output rebounding to 71 percent of pre-pandemic levels in the same period of 2019. During the first eight months, tourist arrivals increased by 3.6 times compared to the same period last year.