Good Morning. Macau is undergoing its phoenix moment, with operators pulling in profits that hadn’t been seen for some sad time. Looking at one of the particular underdogs, SJM finally shifted into the black in the first quarter, posting strong profit and finally leveraging its potential. What can happen in the future remains to be seen. Meanwhile, from South Korea, visitation is keen for the SAR, with tourism numbers booming as the jurisdiction aims to find foreign markets.
In observance of the Labor Day holiday, AGB will return to its normal publishing on Friday, May 2nd.
What you need to know
- SJM posts $4 million profit in 1Q25, reversing losses on the back of 8.1% revenue growth and strong showing at Grand Lisboa Palace.
- South Korean tour visitors to Macau surge by 43.5% in 1Q25, showing strong demand from foreign markets.
On the radar
- Entain reports strong 1Q25 financial results.
- Macau relaunches free cross-border transport for international visitors.
- Kangwon Land reports mixed business performance for 1Q25.
AGB Intelligence
MACAU
SJM comes back into the black
SJM, one of Macau’s laggard gaming operators, has finally seen the sunlight, as it pushes back into the black after a long period of downturn. The new results highlight how the operator has been pushing its flagship property, hopefully now achieving the results the operator is looking for. But headwinds still blow, as expectations for the rest of the year weigh on the conscience.
Industry Updates
- Melco releases annual sustainability report “Rise to go Above & Beyond”.
- Waterhouse VC invests in Maincard, revolutionizing online betting.
- Habanero discovers hidden riches in Love and Riches: Eldorado.
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