SJM
jan26 Macau casino operator SJM Holdings Ltd is likely to report it had negative free cash flow in 2025 due to its acquisition of the L’Arc Hotel complex on the city’s peninsula, as well as the firm’s pledged purchase of certain gaming space at its historic Hotel Lisboa next door. That is according to Lucror Analytics, a Singapore-based specialist in credit research. But the institution added that SJM Holdings should have “adequate” liquidity, given it has funding in place to repay its bonds maturing this year . SJM Holdings is paying an aggregate of HKD1.75 billion (US$224.8 billion) for the acquisition of Casino L’Arc Macau – formerly a satellite gaming venue – and its associated hotel. The complex became a company-managed venue with effect from December 30. SJM Holdings – the predominant supplier of gaming rights to Macau’s legacy satellite-casino sector – saw the era of that business segment conclude at year-end . https://...