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SJM Holdings (880) investor relations material
SJM Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Net gaming revenue for Q3 2025 was HK$6,537 million, down 6.5% year-over-year; nine-month net gaming revenue rose 1.4% to HK$20,165 million.
Adjusted EBITDA for Q3 2025 was HK$881 million, a 15% decrease year-over-year; nine-month Adjusted EBITDA fell 8.8% to HK$2,527 million.
Profit attributable to owners in Q3 2025 was HK$9 million, down from HK$101 million in Q3 2024; nine-month loss widened to HK$173 million.
Financial highlights
Total net revenue for Q3 2025 was HK$7,034 million, a 6.2% decrease year-over-year; nine-month total net revenue increased 1.8% to HK$21,674 million.
Adjusted EBITDA margin for Q3 2025 was 12.5%, down from 13.8% in Q3 2024; nine-month margin was 11.7%, down from 13.0%.
Cash, bank balances, and deposits totaled HK$3,448 million, with debt at HK$27,312 million as of 30 September 2025.
Outlook and guidance
Syndicated banking facilities include a HK$9 billion term loan and HK$10 billion revolving credit, with HK$2.7 billion undrawn.
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Next SJM Holdings earnings date
Q4 20254 Mar, 2026
Next SJM Holdings earnings date
Q4 20254 Mar, 2026
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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.
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