Asia Casino News
Meadows Village - Las Vegas:
SJM Holdings, the operator of Macau’s famous Grand Lisboa and Casino Lisboa, posted its Q2 performance, which is up 241% year-on-year and up 35% co...
SJM Holdings, the operator of Macau’s famous Grand Lisboa and Casino Lisboa, posted its Q2 performance, which is up 241% year-on-year and up 35% compared to Q1 this year; table games returning to 70-90% of pre-COVID levels; non-gaming revenue at double of pre-COVID levels.
Original article by Ben Blaschke for Inside Asian gaming
Macau concessionaire SJM Holdings reported gross gaming revenues of HK$5.66 billion (US$722 million) in the three months to 30 June 2023, up 241% year-on-year and 35% higher than the March quarter.
However, gaming revenues were still at just 56% of pre-COVID levels, largely due to the collapse of the junket industry. Group-wide VIP GGR was just 15% of 2Q19 levels at HK$512 million (US$65 million), while mass table games were back to 72% at HK$4.35 billion (US$555 million) and slot machines and ETGs back to 97% at HK$421 million (US$54 million).
Non-gaming revenue of HK$372 million (US$47 million) was up 26% quarter-on-quarter and more than double the HK$172 million (US$22 million) recorded in 2Q19.
Adjusted EBITDA of HK$430 million (US$55 million) reversed a 2Q22 loss and compared with Adjusted EBITDA of just HK$31 million (US$4 million) in Q1, representing 43% of pre-COVID levels. By property, Grand Lisboa reported Adjusted EBITDA of HK$317 million (US$40 million), up 103% quarter-on-quarter, while self-promoted casinos – Casino Lisboa and Casino Oceanus at Jai Alai – improved by 26% to HK$329 million (US$42 million).
Cotai property Grand Lisboa Palace (GLP) narrowed its Adjusted EBITDA loss from HK$230 million (US$29 million) in Q1 to HK$62 million (US$8 million) in Q2, although management told analysts during its earnings call overnight that GLP had turned profitable in July.
Notably, the company’s satellite casinos reported an Adjusted EBITDA loss of HK$103 million (US$13 million) – largely flat with Q1 – with JP Morgan’s DS Kim explaining that “the pace of rationalization of excess staff (from five satellite casinos that ceased operation last year) was much slower than expected.”
Read Here : https://asiacasino.org/2023/08/22/mass-table-games-and-etgs-push-macaus-sjm-q2-ggr-to-usd-722m/?utm_source=hubbiz&utm_medium=article082223c&utm_campaign=casino&utm&fbclid=IwAR25j0jQhgdMBQidsvWo3ASKkTZgFe8EqZgY2mUPqpKBWwF59WokhsntfpE
Who’s holding the purse strings?
While the venture capital world is swarming with players looking for the next hot company to invest in, it has long ignored real estate. But starting
7 Amazon Performance Metrics You Should Be Tracking
‘Knowing your numbers’ has never been more critical. Whether you are an Amazon or eBay seller, whether you have a…
5 Common Inventory Mistakes and How to Avoid Them
Save time and money by avoiding common inventory mistakes, like untrained employees and a lack of performance tracking.
7 Device Management Facts Warehouse Operators Should Know
Seven important facts warehouse managers should know about device management software and how these tools can help improve their mobile environment.
3 Famous People Who Bounced Back After Bankruptcy
Whether you have big business goals in mind or are just
Council Post: Why And How To Raise Capital Before You Have A Deal
While finding the right deal in the right market is critical to achieving success as a syndicator, the ability to raise capital is equally, if not more, important.
Find Out Which Famous Celebrity Is From Your State
How to Measure & Monitor Your Supplier’s Performance
Supplier performance measurement evaluates supplier performance against set parameters to achieve the highest level of reliability, quality, and performance while limiting risk.
Understanding IMSA's Balance of Performance and Why It's Necessary
Unchecked diversity in sports car racing would lead to disparity among manufacturers.
The Big Data Driving Formula 1 Performance
It’s the small things that matter in allowing a high-speed enterprise to stay in pole position.
Council Post: Six Ways To Increase Cash Flow As A Fix-And-Flip Investor
Profits are important, but not nearly as important as cash flow.
Impact Investors Work to Ensure Lasting Impact Post-Exit, Report Finds
The report from the Global Impact Investing Network outlines the strategies investors employ throughout the investment lifecycle to ensure the long-term success and sustainability of the projects in which they have invested....
US Grand Prix, through a novice’s eyes: Do these always feel like a parade?
I did my best to appreciate smooth racing lines and a nicely designed event space.
How to create performance marketing KPIs
Performance marketing KPIs are hard to come by. And that's a travesty. Let us show you the seven steps that lead to metrics that drive your business forward.
How Would You Rate Your Online Marketing Performance?
How would you grade your digital marketing efforts? Let's see if your SEO, social media, online advertising, and content efforts are making the grade.
How Creative and Innovative Social Campaigns Can Help Maximize Performance
In this post, social media expert Julio Viskovich looks at how brands can use the creative and social elements of social media to boost campaign performance.
Top 4 Benefits of Performance Marketing for Small Businesses
Performance marketing is a performance-based form of paid marketing and advertising where a business only pays once a desired action…
Selling Through a Third Party? How to Maintain Your Brand's Integrity, Post-Sale
The relationship between a brand and its third-party sellers is a vital one: Distributors, retailers, dealerships, and e-commerce platforms are the faces that greet consumers. They bridge the gap between creator and customer, and in that privileged role, they become the conduits for a brand’s values, features, and aesthetics. Because of the crucial position they …
Council Post: Outside Looking In: Why You Should Do A Marketing Audit
It's easy to throw on our rose-colored glasses and give an answer liberally sprinkled with personal bias.
How famous company got their name
Ever wondered where your favorite companies got their name from?<br>Print Works is constantly looking to hire outstanding individuals with a track record of achievement in their area of specialization. We have career opportunities for technicians, sales executives and many more fields of specialty.
