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<Results>SJM HOLDINGS (00880.HK) 1Q24 Net GGR Hikes 74.5% to $6.46B; Loss Narrows to $74M
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SJM HOLDINGS (00880.HK) announced its operating data for 1Q24. Total net revenue was about $6.92 billion, surging 73% YoY, of which revenue from hotels, catering, retail, leasing and related services reached about $456 million. Net loss was $74 million, narrowing from $869 million in the same period last year. Adjusted EBITDA during 1Q24 was $864 million, rocketing nearly 26.9x YoY. The adjusted EBITDA ratio improved by 11.7 ppts to 12.5% compared to 1Q23. Net GGR for 1Q24 was $6.464 billion, hiking 74.5% YoY. Rolling GGR was $645 million in 1Q, a YoY surge of 2.21x, while Non-Rolling GGR also spiked 71.9% to $5.712 billion. Electronic Game GGR lifted 47% to $535 million. The Group's Grand Lisboa Palace recorded quarterly gross revenue of $1.418 billion, an increase of nearly 2x, with adjusted property EBITDA turning around to positive $88 million. Meanwhile, Grand Lisboa's quarterly gross revenue mounted 97.4% to $1.958 billion, and its adjusted property EBITDA soared more than 2.4x to $535 million. Cash, bank balances, short-term bank deposits and pledged bank deposits of SJM amounted to $4.952 billion as at 31 March 2024, while debt amounted to $28.488 billion. SJM's capital expenditure in 1Q24 was approximately $73 million, which was mainly spent on furniture, fixtures and equipment, and leasehold improvements. AAStocks Financial News |
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