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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
SJM
SJM (880) investor relations material
SJM Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 2026 total net revenue was HK$5,287 million, down 24.8% YoY; net gaming revenue was HK$4,758 million, down 27.2%.
Q3 2026 loss attributable to owners was HK$397 million, versus a HK$9 million profit in Q3 2025; 9M loss was HK$692 million versus HK$173 million.
Financial highlights
9M 2026 total net revenue was HK$16,877 million, down 22.1% YoY; net gaming revenue was HK$15,318 million, down 24.0%.
Adjusted EBITDA was HK$705 million in Q3, down 20.0% YoY, and HK$2,406 million in 9M, down 4.8%.
Segment performance
Grand Lisboa Palace Resort Macau Q3 revenue was HK$1,712 million, including HK$1,368 million gaming and HK$344 million non-gaming; Adjusted Property EBITDA was negative HK$38 million versus HK$111 million.
Grand Lisboa Macau Q3 revenue was HK$1,808 million; Adjusted Property EBITDA was HK$357 million, down from HK$471 million. 9M EBITDA was HK$1,217 million versus HK$1,334 million.
Other properties Q3 revenue rose 77.4% YoY to HK$2,447 million and Adjusted Property EBITDA rose 46.0% to HK$438 million; 9M revenue increased 82.2% to HK$7,613 million.
9M 2026 Grand Lisboa Palace Resort Macau revenue was HK$5,650 million, up 2.0% YoY, while Adjusted Property EBITDA was negative HK$16 million versus HK$194 million.
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Latest events from SJM
- Net revenue declined 20.8% and gaming revenue dropped 22.5%, but EBITDA margin improved to 14.7%.880
Q2 2026 - Net gaming revenue fell 22.8% and the group posted a net loss amid mixed segment results.880Q1 2026
- Revenue and EBITDA declined amid satellite casino closures and portfolio consolidation.880Q4 2025
- Q3 2025 saw lower gaming revenue and profit, with mixed segment results and higher capex.880Q3 2025
- Revenue and EBITDA rose year-over-year, with a return to profit and strong segment growth.880Q1 2025
- Revenue up 6.1% but EBITDA and losses worsened; major expansion and restructuring ongoing.880Q2 2025
- Q3 2024 profit turned positive as gaming revenue and margins surged across key properties.880Q3 2024
- Revenue and EBITDA surged, losses narrowed, and non-gaming and tourism expansion support growth.880H1 2024
- SJM Holdings returned to profit in 2024, driven by strong gaming and hospitality growth.880H2 2024
Next SJM earnings date
Q4 20265 Mar, 2027
SJM
Next SJM earnings date
Q4 20265 Mar, 2027
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Frequently asked questions
SJM Holdings Limited is a Macau-based company engaged in the development, ownership, and operation of casinos and integrated entertainment resorts. The company’s properties include a variety of gaming facilities, hotels, and entertainment venues catering to both gaming and non-gaming customers. SJM Holdings is a significant player in Macau's tourism and hospitality sector, offering services that range from casino gaming to accommodation, dining, and retail. The company operates popular resorts, contributing to Macau’s status as a global gaming and leisure destination. The company is headquartered in Macau, China, and its shares are listed on the Hong Kong Stock Exchange.