Summary by Moomoo AI
SJM Holdings announced its unaudited interim performance for the six months ended June 30, 2024, with a total net income of HKD 13.801 billion, an increase of 47.4% compared to the same period last year. Gambling net income also saw significant growth, reaching HKD 12.897 billion, an increase of 48.3%. Adjusted EBITDA increased significantly to HKD 1.734 billion, a year-on-year increase of 275.9%. Despite a narrowing loss attributable to owners of the company to HKD 0.162 billion, it improved significantly compared to a loss of HKD 1.264 billion in the same period last year. SJM Holdings accounted for 12.5% of the gross gambling revenue in Macau, with 15.2% from mass gaming tables and 4.4% from VIP gaming. The gross revenue of Grand Lisboa and New Lisboa were HKD 2.956 billion and HKD 3.8 billion respectively, with positive adjusted property EBITDA. The group had cash and bank balances of HKD 3.433 billion and liabilities of HKD 26.967 billion during the reporting period. In addition, the group did not declare an interim dividend during the reporting period.
