Shares of SJM Holdings fell 2.8% to HK$1.41 on Wednesday after the company reported a sharp decline in revenue and wider losses for the first half of 2026. The Hong Kong-listed casino operator cited the permanent closure of its satellite casino network in December 2025 as a primary driver of the downturn.
Total net revenue for the six months ended June 30 dropped 20.8% year-over-year to HK$11.59 billion, while the attributable loss to shareholders expanded by 61.7% to HK$295 million. Basic loss per share stood at HK$0.041.
Gross gaming revenue, a key metric for Macau operators, fell 18.5% to HK$12.08 billion. SJM’s market share in Macau’s casino sector declined to 9.8%, down from 12.9% a year earlier. The company’s flagship Cotai resort, Grand Lisboa Palace, saw adjusted property EBITDA plunge from HK$82 million to HK$22 million, reflecting broader pressures including restructuring costs, elevated customer reinvestment spending, and general cost inflation across the market.
The decline in SJM’s shares contrasted with a stronger broader market, as the Hang Seng Index advanced up to 1% on the same day.
