SJM
jan26 Jogo: Agência Fitch avalia novas obrigações da SJM como especulativas A agência de notação financeira acredita que o grupo tem um longo caminho para percorrer para reduzir o endividamento. Um dos problemas identificado é a incerteza sobre os resultados do Grand Lisboa Palace e a falta de atração a nível do mercado de massas https://www.plataformamedia.com/2026/01/08/jogo-agencia-fitch-avalia-novas-obrigacoes-da-sjm-como-especulativas/ jan26 Vitaly Umansky Seaport Research SJM (UNICA COM Sell; rating under review): SJM remains poorly positioned in a very competitive Macau market, in our view. We expect SJM to lose market share during the rest of 2025 and in 2026 as the satellite businesses go away and GLP continues to struggle with share gain. While SJM will likely pick up some of that business (at a higher margin) at its peninsular operations, it will unlikely be able to pick up all of it. SJM is in a difficult position with inferior product offering, poor location on Cotai,...