Gaming operator SJM Holdings announced yesterday a loss of HK$647 million in the first quarter of this year.
According to a statement by the Hong Kong-listed company, its loss in the first quarter of last year amounted to HK$409 million.
Macau confirmed its first COVID-19 case on January 22 last year.
Total net revenue fell by 28.8 percent to HK$2.47 billion in the first three months of the year. Net gaming revenue dropped by 29.2 percent to HK$2.41 billion.
The statement underlined that the company’s gross gaming revenue accounted for 11.6 percent of Macau’s casino gaming revenue in the first quarter, as compared with 13.3 percent in the same quarter of last year.
SJM Holdings said that it “anticipates” opening its Grand Lisboa Palace casino-hotel resort in Cotai in the first half of this year.
The statement quoted SJM Holdings Vice-Chairman and CEO Ambrose So Shu Fai as saying that “SJM’s results recently have begun responding to the resumption of leisure travel to Macau, and we look forward to further gradual improvement in market conditions for the rest of 2021.”
