SJM
mar26: SJM recovery trails Macau market, turnaround unlikely until 2H26 Macau gaming operator SJM Holdings is expected to lag the broader recovery of Macau’s casino sector, according to analysts at CBRE. The brokerage indicated a meaningful turnaround is unlikely before the second half of 2026 as the company continues to restructure operations following the closure of its satellite casinos . Analysts John DeCree and Max Marsh said the company remains in a transition period after shutting down its satellite casino network and shifting resources to its self-promoted properties. The process involves repositioning its assets to better target mass and premium-mass customers, reorganizing its marketing team, modernizing promotional strategies, and improving cost efficiencies as tables, slot machines and employees are redeployed from former satellite operations. Additional disruptions are also expected in the near term, including room renovations at Hotel Lisboa and adj...