SJM Holdings posted net game revenue of HK$913 million in the last quarter, down 59.9% year-on-year, according to an announcement from the game company today (Monday).
Ambrose So, vice chairman and chief executive officer of SJM Holdings, attributes the decline in gaming net revenue to existing “travel restrictions” and “quarantine requirements.” The third quarter figure contrasted with last year’s he’s HK$2.276 billion.
Gross VIP gaming revenue decreased 91% to HK$29 million in the third quarter from HK$324 million in the same period last year, while gross market gaming revenue decreased 57.2% from HK$2,001 million to HK$857 million. did. As for slot machines, he fell 52.9% from HK$140 million to HK$66 million.
“Additionally, following the localized outbreak of COVID-19, all casinos and gaming areas in Macau were closed for 12 days by government order in July. We look forward to the beginning of further liberalization, the awarding of new gaming concessions and SJM’s commitment to continuing its long-term presence in Macau.”
The Group’s Adjusted EBITDA for the July to September period was HK$(968) million, down 110.4% compared to HK$(460) million in Q3 2021.
The Group’s Cotai integrated resort, Grand Lisboa Palace, opened in July last year and recorded gross gaming revenue of HK$46 million, down 33.3% from HK$69 million in the same period last year.
After recording pre-opening charges of HK$95 million, Adjusted Property EBITDA4 was negative HK$227 million, down 29% from negative HK$176 million in the previous year.
For Grand Lisboa, total gaming revenue was HK$101 million, down 83.3% from HK$607 million a year earlier.
Its Adjusted Property EBITDA was negative HK$223 million, down 93.9% from negative HK$115 million in the same period last year.