Summary by Moomoo AI
SJM Holdings Limited (SJM Holdings) released its mid-year report for 2024, showing a 47.4% increase in total net profit compared to the same period in 2023, reaching 13.801 billion Hong Kong dollars. Gambling net profit increased by 48.3% year-on-year to 12.897 billion Hong Kong dollars. Adjusted EBITDA increased significantly by 275.9% to 1.734 billion Hong Kong dollars. Although the company's attributable loss decreased to 0.162 billion Hong Kong dollars, the loss per share was still 2.3 Hong Kong cents. Entertainment at the MGM accounted for 12.5% of the gross gambling revenue in Macau, with mass market table games contributing 15.2% and VIP gambling contributing 4.4%. The occupancy rates at Grand Lisboa Integrated Resort and New Lisboa Hotel increased to 94.8% and 98.5% respectively, indicating a recovery in the tourism business. As of June 30, 2024, the group had a cash and bank balance of 3.433 billion Hong Kong dollars, with debts amounting to 26.967 billion Hong Kong dollars.
