Macau casino operator SJM Holdings Ltd has proposed a significant increase in the annual caps of its service agreement with its parent company STDM. This move follows the surge in demand for tourism products in the gaming hub.

Macau legacy gaming operator SJM has renewed its services, leasing and chips agreements with parent company STDM for three years.

SJM Holdings Limited announced Wednesday that STDM agreed to extend an unsecured term loan of HK$2 billion in terms J.P. Morgan classifieds as disappointing. 

Fitch Ratings anticipates that SJM Holdings Limited will experience a positive free cash flow (FCF) in 2024, with further expansion in 2025-2026. This positive trend is expected to drive a reduction in debt balance from HK$ 29 billion ($2.7 billion) at the end of September 2023 to HK$ 26 billion ($3.3 billion) by the end of 2025 and HK$ 23 billion ($3 billion) by the end of 2026.

The former Macau Canidrome will be transformed into a new themed entertainment spot in December during the Macau Light Festival.

The end of an age. Macau's junkets are now truly shifting out of the territory, finding safer pastures in Southeast Asia, as the gaming hub no longer creates profits that it once had.

The operator of Macau's Ponte 16 casino, Success Universe, said it is discussing with the government about its future development projects, part of which include a floating casino.

The esteemed Dr. Ambrose So is set to retire from SJM in just a week’s time, after some 21 years with the legacy gaming operator. Internal politics have long plagued SJM and its parent company STDM, begging the question of who will step in to fill the void that the venerated Vice-Chairman and CEO leaves.

SJM Resorts recently organised a travel trade event in Hong Kong and showcased its latest integrated resort, Grand Lisboa Palace Resort Macau ("Grand Lisboa Palace"), as well as a variety of hotels and tourism offerings from SJM's parent company, Sociedade de Turismo e Diversões deMacau,S.A. ("STDM").

The MICHELIN Guide Hong Kong Macau held its 15th annual award ceremony today at Grand Lisboa Macau (“Grand Lisboa”) to unveil its 2023 award list. SJM Resorts, S.A. (“SJM”) is honoured to be awarded once again the highest accolade from the industry’s most authoritative review.