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GGRAsia – SJM 1Q loss US$111mln, adjusted EBITDA turns positive ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.
Grand Lisboa Palace, a $5 billion undertaking, is seen complete on the Cotai Strip. The Macau resort is SJM Holdings’ largest investment ever. (Image: Inside Asian Gaming) During the company’s first-quarter 2021 earnings call this week, executives said they are still waiting on their table games allocation from the Macau Gaming Inspection and Coordination Bureau (DICJ). SJM said it wishes to have approximately 300 table games and more than 1,000 slot machines when it welcomes its first guests.
The 300-table target is considerably more than what the DICJ typically allows for new integrated resorts. The gaming regulator’s standard for new large-scale casinos is usually around 150 to 200 table games. ....
The average daily number of visitor arrivals to Macau during the upcoming Labour Day Golden Week holiday period is likely to increase by around 20 percent compared with a previous peak earlier this month, and is therefore likely to surpass the 40,000 mark. That is according to a forecast from the city’s police. A police representative explained in a press conference that one reason for the positive forecast was that authorities in mainland China had not introduced any additional travel restrictions nor issued statements advising people to avoid travelling during the upcoming holiday period. China’s State Council has designated the first five days of May as the Labour Day break for this year. Mainland China currently has a quarantine-free travel bubble with Macau, and is presently the main source of Macau’s tourists. ....