Retendering21-22

nov24 Macau gaming operator  SJM Holdings  may only resume dividend payments in 2026, as its top priority remains deleveraging, according to a report from  Morgan Stanley . The information follows the Asia Pacific Summit 2024, where the Morgan Stanley research team met with SJM Holdings’ management. Morgan Stanley notes that, despite expectations for SJM’s net income to turn positive in 2024, the company’s dividend policy is closely tied to its efforts to reduce debt. With net debt still at a high level, SJM aims to reduce its net debt-to-EBITDA ratio to 5x over the next 18 months. As of the end of the third quarter of 2024, SJM’s net debt-to-hold-adjusted EBITDA stood at 6.5x, and the company has projected capital expenditures of approximately HK$1 billion ($129 million) per year from 2024 to 2026. While the company is expected to return to profitability in 2024, with third-quarter net income turning positive at HK$101 million ($13 million), compared to a loss of HK$60 m...

jan25 Macau’s tourism boss said in Friday comments that Macau might be able to draw “38 million to 39 million” visitors this year, a level “very close” to the pre-pandemic trading year of 2019, with  additional volume of arrivals   from neighbouring city Zhuhai – amid mainland exit-visa policy easing – being a key factor. Maria Helena de Senna Fernandes (pictured in a file photo), director of the Macao Government Tourism Office (MGTO), was speaking on the sidelines of a public event. She also stated that visitor volume specifically during an eight-day mainland holiday encompassing Chinese New Year was forecast to reach “185,000″ daily on average. Of that tally, around “8,000″, i.e., 4.3 percent, were expected to come from international markets, a segment she noted was seeing “satisfactory” post-pandemic growth. https://www.ggrasia.com/macau-govt-ups-2025-visitor-forecast-to-almost-2019-levels/ apr24 Macau’s Chief Executive,  Ho Iat Seng , expresses his confidence that Mac...

mar25 mar25 The ramp up of business at the Grand Lisboa Palace resort in Cotai, run by Macau concessionaire SJM Holdings Ltd, has been slower than expected by investment analysts, but should continue as the company makes “targeted investments” to improve operations at the complex, say two separate brokerages. CBRE Capital Advisors Inc suggested in a Wednesday memo that any closure of a satellite casino in Macau operated under SJM Holdings could eventually contribute to lift business volumes at Grand Lisboa Palace (pictured). Satellite casinos operate under the gaming licence of a Macau concessionaire, but are usually promoted by third parties. Under a new gaming regulatory framework – coinciding with the current 10-year concessions of the six Macau operators – third-party investors in satellite casinos will only be permitted to earn a “management fee” via a ‘management company’ from 2026. Macau has 11 satellite casinos that continued to operate under the new 10-year gaming concessions ...