SJM HOLDINGS: ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2025

SJM Holdings reported a net loss of HKD 4.29 billion for the fiscal year 2025, compared to a profit of HKD 3 million in 2024. Total net revenue for the year amounted to HKD 28.17 billion, representing a year-on-year decrease of 2.1%; gaming net revenue stood at HKD 26.203 billion, down 2.4% year-on-year; and adjusted EBITDA was HKD 3.198 billion, reflecting a 15.0% year-on-year decline. The Group has not recommended the payment of a final dividend.The Group cooperated with Macau's updated gaming regulations during the year by systematically closing its satellite casinos and completing two strategic acquisitions: designated areas of Hotel Lisboa and the Venetian Macao property. The Grand Lisboa Palace integrated resort generated annual revenue of HKD 7.373 billion, up 12.1% year-on...Show More

SJM Holdings reported a net loss of HKD 4.29 billion for the fiscal year 2025, compared to a profit of HKD 3 million in 2024. Total net revenue for the year amounted to HKD 28.17 billion, representing a year-on-year decrease of 2.1%; gaming net revenue stood at HKD 26.203 billion, down 2.4% year-on-year; and adjusted EBITDA was HKD 3.198 billion, reflecting a 15.0% year-on-year decline. The Group has not recommended the payment of a final dividend.The Group cooperated with Macau's updated gaming regulations during the year by systematically closing its satellite casinos and completing two strategic acquisitions: designated areas of Hotel Lisboa and the Venetian Macao property. The Grand Lisboa Palace integrated resort generated annual revenue of HKD 7.373 billion, up 12.1% year-on-year, but its adjusted property EBITDA fell 66.9% to HKD 165 million. Revenue from the New Lisboa Casino amounted to HKD 7.697 billion, down 1.8% year-on-year, while its adjusted property EBITDA decreased by 16.0% to HKD 1.758 billion.As of the end of 2025, the Group held cash and bank balances of HKD 3.01 billion, with total debt amounting to HKD 29.252 billion. Management stated that the structural impacts of closing satellite casinos have been largely mitigated, and resources have been reallocated. Going forward, the Group will continue to focus on enhancing operational efficiency, driving profit growth, and strengthening its product portfolio to expand its base of high-quality customers.