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Parent STDM extends SJM HK$2B “disappointing” loan to support Macau tender  

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. 

SJM posts widened EBITDA loss for 2Q22, despite satellite casino push market share gain

Although SJM managed to achieve a market share gain 3.8% for 2Q11, largely from satellite casinos, the operator reported a widened loss of HK$702mm, still better than consensus, leading brokerage Bernstein writes.

SJM Holding’s Grand Lisboa shutdown after Covid cluster discovered

SJM Holding’s Grand Lisboa Hotel in Macau has been locked down after 13 Covid cases were tracked to the property. 

SJM Holdings ratings outlook cut to negative by Moody’s

SJM Holdings’ credit rating has been confirmed at its current level after the operator managed to refinance its loans, but the outlook was cut to negative by Moody’s.

SJM announces successful refinancing of HK$19b in loan facilities

SJM Holdings said its creditors have agreed to refinance syndicated loan facilities worth up to HK$19 billion ($2.4 billion). The loans consist of a $9 billion term loan and a $10 billion revolving credit facility, the company said in a statement.

SJM, LVS downgraded due to reduced confidence in Macau recovery: Fitch

SJM Holdings and Las Vegas Sands’ credit ratings have been cut by Fitch, which said it has reduced confidence in the Macau market’s recovery.

SJM payroll cost to increase up to HK$600m in 2H22 on satellite absorption: Fitch

SJM Holdings payroll costs may increase by up to HK$600 million ($76.4 million) in the second half as the company absorbs staff from satellite casinos, Fitch Holdings said.

SJM to continue operating Emperor casino for six months, to pay US$2.6m in fees

SJM Holdings will continue to run the satellite casino in Macau’s Grand Emperor Hotel for another six months and will pay HK$21 million ($2.6 million) in fees for hotel rooms and other services.

Galaxy & SJM EBITDA margins tell two different stories [Infographic]

This week’s infographic and write-up continues our in-depth examination of Macau’s gaming industry performance in 1Q22, this time looking at EBITDA margins.

SJM daily cash burn HK$22m, loan refinancing to provide HK$6b liquidity: MS

SJM Holdings is currently burning through about HK$22 million ($2.8 million) cash a day and if its loan refinancing is approved it will get another HK$6 billion in liquidity, Morgan Stanley said.

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