SJM Holdings is the oldest gaming operator in Macau, listed in Hong Kong under the code 880. It descends from the monopoly held for four decades by Stanley Ho, and is now chaired by his daughter Daisy Ho. It received an eighteen-year concession when the market opened in 2002, extended twice before being replaced by a new ten-year concession from 1 January 2023. Its properties include the Grand Lisboa, which opened in downtown Macau in February 2007 and remains its flagship, alongside Grand Lisboa Palace on Cotai, L'Arc, Casino Lisboa and Casino Oceanus. SJM is the operator with the deepest roots in the peninsula's older downtown gaming district rather than the Cotai resorts that came after liberalisation.
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Galaxy Entertainment Group's chairman bought 4.6 million shares for cash on the first trading day after Macau's weakest monthly gaming revenue of the year, paying less than the stock traded for on the exchange that day. The filing shows the price; it does not show who sold.
SJM Holdings' 2026 interim report shows what Macau's end of satellite casinos did to Macau's longest-established operator: less revenue and a smaller share of the market, but a better margin and more gaming revenue in the casinos it now runs itself. The loss still widened, debt rose to HK$30.2 billion, and management says the job now is productivity.
A Hong Kong filing puts the half-year loss at about HK$136.8m against HK$1.42bn. Strip out last year's impairment and the comparison is HK$148.6m, an improvement of roughly 8%.
While the broader Macau gaming market is enjoying a strong recovery, legacy operator SJM Holdings has reported a weak first half for 2025, with widening net
A consensus is forming among leading investment banks that Macau’s casino industry is poised for stronger-than-expected growth, with both Morgan Stanley and