SJM Holdings, the parent company of Macau concessionaire SJM Resorts, S.A., says it has now shifted its focus to optimizing asset productivity, strengthening its premium customer proposition and enhancing the group’s overall competitiveness and operational resilience following the recent transition to a direct management model.
Providing an update on recent developments in its 2026 Interim Report, published Monday, SJM explained that this has already seen it advance a coordinated program of enhancements across its gaming, hospitality and non-gaming experiences, including facility upgrades at its peninsula properties and enhancing its gaming offering and floor optimization at Grand Lisboa Palace Resort Macau in Cotai.
The move to a direct management model is reference to the mandated closure by the Macau government of all satellite casinos last year, of which eight had been operating under the SJM concession. A ninth, Casino L’Arc, was acquired by SJM and brought into its full ownership mix at the end of 2026.
While the closure of its satellite operations has proved challenging given a government requirement to retain all staff – resulting in significantly compressed margins and declining market share – SJM said it has since made strides in regard to enhancing customer appeal.
On the Macau peninsula, where the company operates Grand Lisboa, Hotel Lisboa, L’Arc and Casino Oceanus at Jai Alai, SJM confirmed it had opened the second phase of its Crystal Palace gaming area at Hotel Lisboa in August as well as completing the refurbishment of 400 hotel rooms, while the refurbishment of its deluxe villas and mansion is expected to be completed ahead of the 2027 Lunar New Year holiday. These initiatives, the company explained, are intended to reinforce the competitiveness of the group’s established downtown portfolio.
At Grand Lisboa Palace in Cotai, SJM said it “remains focused on enhancing gaming mix, optimizing floor utilization and improving returns on invested capital.”
It added, “Following the redeployment of resources from the former satellite casinos, table capacity was increased and new gaming areas were introduced, including the Sky Phoenix West Tower VIP area. Dragon Pavilion was also reconfigured to support premium-mass operations.
“Further enhancement works to the main gaming floor have been rolled out progressively, with the objective of further improving productivity, increasing the property’s contribution to the group’s earnings and boosting overall property yields.”
SJM further stated that, as well as executing the portfolio enhancement program, it is placing equal emphasis on converting revenue growth into sustainable earnings.
“A comprehensive cost management and operational efficiency program has been implemented across the Group to optimise resource allocation, improve productivity and enhance operating leverage while maintaining high service standards and guest satisfaction,” SJM explained.
“Together with the ongoing enhancement of the group’s product offerings, these initiatives are expected to support operating efficiency and the group’s objective of improving profitability and creating long-term shareholder value.”
A recent report by CBRE Equity Research revealed that SJM had already reduced its staff count by 5% since the start of the year as it looks to improve operating efficiency.
The company previously reported a net loss of HK$295 million (US$37.6 million) for the six months to 30 June 2026.
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