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ste25 Macau casino operator SJM Holdings Ltd’s free cash flow is likely to remain negative in fiscal year 2025 due to its pledge to fund the acquisition of a portion of Hotel Lisboa (pictured) as well as two other satellite casino properties. The company’s liquidity is also “inadequate” as it is facing “material” financing needs in the next fiscal year, says a memo from Lucror Analytics, a Singapore-based specialist in credit research. SJM Holdings’ net debt has increased in the first half of the current fiscal year. That was in contrast to its Macau market peers, which mostly reported “stable or lower net debt”, observed Lucror Analytics, in a note carried on the Smartkarma platform. SJM Holdings reported gross debt of HKD27.26 billion (US$3.49 billion) as of June 30, according to its  interim results  filing lodged with the Hong Kong bourse on August 28. The casino operator’s cash balance as of June-end was HKD2.4 billion, and its net debt stood at circa HKD24.9 billion, the...

jun24 One of the Hong Kong government’s top tourism advisers – the leisure and entertainment mogul Allan Zeman – says the city is lagging behind Macao when it comes to attractions.  His comments will come as a stark warning to a Hong Kong tourism industry struggling to find its post-pandemic direction, with long-haul markets remaining sluggish and the domestic market shifting from affluent mainland Chinese travellers to penny-pinching day-trippers. In remarks  published  by the  South China Morning Post  over the weekend, Zeman said Macao has things “we don’t have” and praised the Macao government’s efforts to diversify away from gambling as a tourist draw. “Macao is becoming an exciting city. Every week there’s new names coming, putting on shows, and it’s competition for us,” he said. Zeman added: “The casinos earn a lot of money, so they can keep bringing out new things and reinventing themselves … Macao has suddenly become a very fun place to go to.” He said ...

may25 A DICJ pretende elevar a gestão “inteligente” do sector do jogo, através da introdução de tecnologia informática, indicou a nova dirigente do organismo, Ng Wai Han   A nova directora da Inspecção e Coordenação de Jogos (DICJ), Ng Wai Han, está apostada em “elevar o nível de gestão inteligente do sector, por forma a que este se desenvolva de forma saudável”. Para isso, “serão introduzidas tecnologias informáticas” na área do jogo, indicou, na cerimónia de tomada de posse. Com uma vasta experiência na área da Administração Pública, designadamente no desenvolvimento da governação electrónica e na optimização dos procedimentos administrativos, Ng Wai Han dirigiu anteriormente os Serviços de Administração e Função Pública (SAFP). Na toma de posse, prometeu ainda que irá empenhar-se “na coordenação e supervisão da implementação efectiva dos elementos não jogo, no sentido de contribuir para a diversificação adequada da economia de Macau e para o desenvolvimento articulado de diferen...