Macau casino operator SJM Holdings reports FY22 loss

# Macau casino operator SJM Holdings reports FY22 loss Macau legacy gaming concessionary SJM Holdings Ltd SJM reported FY22 financial results representing a loss of HK$7.8 billion (EUR 941.3 million) in 2022. The loss was attributed to a 37.7% drop in game revenue due to multiple forced closures and significant cost of damage to property costs and closures. Revenue fell to HK$6.46 billion (EUR 779.4 million), including a 64.2% drop in VIP gross gaming revenue (GGR) to HK$486 million (EUR 58.7 million), according to the report. The report also states that the mass market GGR fell 34.5% to HK$5.55 billion (EUR 669.5 million) and the slot GGR fell 22.5% to HK$416 million (EUR 50 million). This resulted in an adjusted EBITDA loss of HK$3.1 billion (EUR 374 million) in 2022 from a loss of HK$1.58 billion (EUR 193 million) reported in 2021. In a statement released with the results, SJM Holdings Chairman Daisy Ho said: "The year 2022 is also a milestone because we successfully bid for a 10-year concession. With unwavering confidence in Macau's future, we have committed to a $14 billion MOP (EUR 1.68 billion) investment blueprint, of which $12 billion (EUR 1.44 billion) has been earmarked to expand international tourism and non-game tourism elements. SJM is committed to protecting Macau's unique heritage and innovating for the future, combining our strategic tourism assets with network benefits to provide a truly immersive Macau experience, promote an ecosystem that supports omnidirectional diversification across a wide range of sectors of the economy, and solidify Macau's status as a world center of tourism and leisure." The report also segmented revenue from individual properties, with the recently opened Grand Lisboa Palace in Kotai posting revenue of HK$346 million (EUR 41.6 million), up 73% year-on-year. However, it should be noted that 2022 is the first year of operation on this property. Meanwhile, IR Grand Lisboa reported a 50.4% decrease in the GGR to HK$1.07 billion (EUR 128.7 million). [릴게임](https://www.slotmachinesite.com)