Good Morning. Satellites can’t stay in orbit forever. And Macau legacy gaming operator SJM is seeing the stark impact of what happens when they begin to be decommissioned. The group saw a stark 91 percent decline in profit for 3Q25, losing market share and seeing a drop in GGR, despite better results at the Grand Lisboa Palace. Looking to the Philippines, Solaire operator Bloomberry saw a significant increase in its loss for the past quarter, despite resilience from its latest property, Solaire North. Softness in VIP play and increased costs from the new online platform were, however, contrasted by strong local play during the period.
What you need to know
- SJM posts sharp 91% profit drop in 3Q25, citing “inevitable” satellite phaseout and market share slide to 11.8%.
- Bloomberry reports a $28.8M net loss in 3Q25, pressured by a decline in VIP revenue and new online platform costs.
On the radar
- Newport World Resorts: GGR hit nearly $298M in first 9 months of 2025.
- Macau Grand Prix expected to attract 500,000 visitors over four days.
- Galaxy could raise payout ratio to 69% on strong cash flow: CLSA.
- Paradise Co. approves $87M collateral for Sega Sammy loan.
- Macau’s neighboring city launches subsidy scheme to boost economy.
- Thailand extradites alleged online gambling kingpin She Zhijiang to China.
AGB Intelligence
MACAU
SJM sees sharp 91% drop in profit in 3Q25
The end of an age indeed. And the consequences are becoming apparent. The shuttering of Macau’s satellite casinos was always going to largely affect legacy gaming operator SJM, given its proliferation of sub-licensed operators. But its third-quarter results showed the stark reality of the impact, with profit down 91 percent and the company facing “significant headwinds”. Despite this, the group’s Cotai flagship performed better, even as the company lost market share and GGR declined.
Industry Updates
- Ludo Land enters the iGaming arena with innovative fast and slot games.
- Evoplay debuts in US lottery market, expanding its North American presence.
- QTech Games hires Joel Anyaegbu to drive West Africa business growth.
Corporate Spotlight
90-Day Playbook for Winning Asia’s Gaming Market | GR8 Tech
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