SJM Holdings shares fell 2.8% to HK$1.41 on Wednesday, underperforming a 1% advance in the broader Hang Seng Index.
The decline follows a 20.8% year-over-year drop in total net revenue for the first half of 2026, to HK$11.59 billion. Shareholder losses widened by 61.7% to HK$295 million, while basic loss per share reached HK$0.041.
Gross gaming revenue decreased 18.5% to HK$12.08 billion, reflecting the full closure of SJM’s satellite casino network in December 2025—a move that had supported comparables in the prior-year period. The company’s Macau casino market share fell to 9.8%, down from 12.9% a year earlier.
At its flagship Cotai resort, Grand Lisboa Palace, adjusted property EBITDA plummeted from HK$82 million to HK$22 million, weighed down by restructuring costs, elevated customer reinvestment spending and broader cost inflation across the sector. Investor sentiment toward Macau’s gaming market remains cautious amid these pressures.
