• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 9 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Pandemic challenges see SJM’s Grand Lisboa Palace open to US$54 million EBITDA loss in 2021

Ben Blaschke by Ben Blaschke
Mon 28 Feb 2022 at 20:14
SJM reveals eco-friendly features of new Cotai IR

Grand Lisboa Palace

31
SHARES
771
VIEWS
Print Friendly, PDF & Email

SJM’s Grand Lisboa Palace (GLP) recorded an Adjusted Property EBITDA loss of HK$423 million (US$54 million) in its first five months of operation, with revenues restrained by COVID-19 and the delayed launch of some key facilities.

Opened into the teeth of the pandemic on 30 July 2021, the HK$39 billion (US$5 billion) Cotai integrated resort produced gross revenue of HK$370 million (US$47 million) through 31 December 2021, of which HK$200 million (US$26 million) was GGR and HK$170 million (US$22 million) was non-gaming revenue. In the absence of any VIP operations, gaming revenue comprised HK$170 million (US$22 million) from mass gaming tables and HK$30 million (US$4 million) from slots, according to SJM’s 2021 results announcement.

The company told analysts on Monday’s earnings call that GGR at GLP had reached HK$161 million (US$21 million) in the December quarter although EBITDA loss also widened to HK$247 million (US$32 million), from HK$176 million  (US$22.5 million) in its two months of operations in Q3.

SJM also reported a 48.7% hotel occupancy rate, having opened with only one of its three hotels – the 1,350-room Grand Lisboa Palace Macau – accepting guests. The Karl Lagerfeld launched in December while the Palazzo Versace has been expected to open within the next month, although brokerage Bernstein said in a Monday note that this could now be delayed due to current COVID-19 outbreaks in Hong Kong and Guangdong Province.

GLP aside, SJM’s group-wide results showed year-on-year improvement in 2021, with GGR up 25.3% to HK$10.37 billion (US$1.33 billion) and Adjusted EBITDA loss of HK$1.58 billion (US$202 million) narrowed from a loss of HK$2.09 billion (US$267 million) in 2020.

The results included a 4.1% increase in GGR at peninsula property Grand Lisboa to HK$2.15 billion (US$275 million), while SJM’s other self-promoted casinos – Casino Lisboa, Casino Oceanus at Jai Alai, Casino Eastern and Casino Taipa – saw GGR rise 10.1% to HK$1.49 billion (US$191 million). Revenue at the 14 satellite casinos running under SJM’s license saw revenues up 34.4% year-on-year to HK$6.53 billion (US$836 million).

In line with Macau market trends, growth was driven by the mass market with group-wide mass GGR up 44.6% year-on-year to HK$8.47 billion (US$1.08 billion) and slot machine GGR up 41.6% to HK$537 million (US$69 million). VIP GGR fell 33.3% to HK$1.36 billion (US$174 million).

SJM said it has not recommended payment of a final dividend for FY21 with loss attributable to owners of the company widened by 37.0% to HK$4.14 billion (US$530 million) on additional costs.

RelatedPosts

Ministry says foreign workers comprised majority of 2,000 laid-off RWS workers

JP Morgan highlights “strikingly large” gap between Singapore’s two IRs as Resorts World Sentosa falls to all-time low market share

Sat 9 Aug 2025 at 10:04
Large-scale events center at Wynn Palace part of US$750 million worth of Macau project investments planned by Wynn through end-2026

Large-scale events center at Wynn Palace part of US$750 million worth of Macau project investments planned by Wynn through end-2026

Fri 8 Aug 2025 at 05:54
Filipino maintenance worker passes away in Wynn Palace work-related accident

Low VIP hold hurts Wynn Macau’s 2Q25 results as operating revenues hit US$883 million

Fri 8 Aug 2025 at 05:17
MGM China lives up to new 50% dividend payout policy as total 1H25 interim dividend payout declared at US$152 million

MGM China lives up to new 50% dividend payout policy as total 1H25 interim dividend payout declared at US$152 million

Fri 8 Aug 2025 at 04:59
Load More
Tags: covid-19Grand Lisboa Palacegross gaming revenueMacaurevenueSJM Holdings
Share12Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Ministry says foreign workers comprised majority of 2,000 laid-off RWS workers

JP Morgan highlights “strikingly large” gap between Singapore’s two IRs as Resorts World Sentosa falls to all-time low market share

by Ben Blaschke
Sat 9 Aug 2025 at 10:04

Investment bank JP Morgan on Friday whacked Singapore’s Resorts World Sentosa (RWS) for what he described as a “strikingly large” gap in market share and profit share in the three months to 30 June 2025. It also noted that the...

Licensed online operators respond to regulatory push by forming PlaySafe Alliance of the Philippines

Licensed online operators respond to regulatory push by forming PlaySafe Alliance of the Philippines

by Newsdesk
Sat 9 Aug 2025 at 10:01

A group of 19 licensed online gaming operators in the Philippines have come together to form the PlaySafe Alliance of the Philippines – a unified industry association they say is committed to responsible gaming, regulatory compliance, consumer protection and combatting...

IGT to unveil comprehensive game portfolio, new jackpots at Australasian Gaming Expo

IGT to unveil comprehensive game portfolio, new jackpots at Australasian Gaming Expo

by Newsdesk
Fri 8 Aug 2025 at 12:56

IGT will showcase 10 new game families as well as a revamped jackpot strategy for the local ANZ market at the upcoming Australasian Gaming Expo (AGE) taking place at ICC Sydney from 12 to 14 August 2025. This will also...

Large-scale events center at Wynn Palace part of US$750 million worth of Macau project investments planned by Wynn through end-2026

Large-scale events center at Wynn Palace part of US$750 million worth of Macau project investments planned by Wynn through end-2026

by Ben Blaschke
Fri 8 Aug 2025 at 05:54

Wynn Macau Ltd is looking to spend up to US$750 million through the end of 2026 on a series of upgrade and expansion projects at its Macau resorts, including development of a new large-scale events center at Wynn Palace. The...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English