SJM Macau hit by another loss

Revenues at the oldest Macau operator, SJM Holdings, were badly hit by the pandemic restrictions in its first-half, leading to a net loss.

The casino owner suffered a loss of HK$2.76bn (US$351.2m), compared with a loss of HK$1.47bn in the first half of last year.

Revenue had declined by 20.9 per cent, says GGRAsia, to HK$4.13bn because of poor performance in the sector. EBITDA was minus HK$1.18bn in the half-year, compared with a minus HK$510m in 2021.

The group said that it did not expect to return to pre-pandemic levels of income this year.