Latest news with #SJMHoldings
Nikkei Asia
10-06-2025
- Business
- Nikkei Asia
Macao 'satellite casinos' to close as China cracks down on dark money
HONG KONG -- Nearly a dozen off-premises "satellite casinos" in Macao will shut down by the end of the year as local and mainland Chinese authorities seek to cut off the flow of questionable funds. Major integrated-resort operators have agreed to close 11 satellite casinos under plans announced Monday. Nine are operated by SJM Holdings, while Galaxy Entertainment Group and Melco Resorts & Entertainment operate one apiece.
South China Morning Post
10-06-2025
- Business
- South China Morning Post
As Macau seeks economic diversification, 11 satellite casinos to cease operations
By the end of the year, 11 satellite casinos in Macau will cease operations, as the government seeks an economic diversification away from gambling and into exhibitions, entertainment and technology. Satellite casinos are small casinos operated by third parties but under concessionaires' licences. Analysts said the impact on concessionaires was 'broadly neutral', but some firms should see a more immediate increase in table yields. SJM Holdings said it would shut down seven of its nine satellites this year and buy the two others, Ponte 16 and L'Arc Macau, before directly managing them. Galaxy Entertainment Group said it would close the Waldo Casino 'due to commercial considerations', and Melco Resorts & Entertainment said it would shut down the Grand Dragon Casino along with three Mocha Club slot venues: the Mocha Hotel Royal, Mocha Kuong Fat, and Mocha Grand Dragon Hotel. On Monday, Tai Kin Ip, Macau's secretary for economy and finance, said there were around 5,600 local employees at the satellite casinos. He said 4,800 were employed by the concessionaires and 800 worked for the satellite casino operators. In 2022, the Macau government amended its gaming laws before granting six new 10-year casino concessions. It gave satellite casinos three years to shift from a profit-sharing model to a structure where they are directly owned by licensees.
Business Insider
02-06-2025
- Business
- Business Insider
J.P. Morgan upgrades SJM Holdings (SJMHF) to a Hold
In a report released today, Ds Kim from J.P. Morgan upgraded SJM Holdings (SJMHF – Research Report) to a Hold, with a price target of HK$2.20. The company's shares closed last Thursday at $0.30. Confident Investing Starts Here: According to TipRanks, Kim is a 4-star analyst with an average return of 8.0% and a 46.74% success rate. Kim covers the Consumer Cyclical sector, focusing on stocks such as Melco Resorts & Entertainment, SJM Holdings, and Melco International. SJM Holdings has an analyst consensus of Hold, with a price target consensus of $0.30. The company has a one-year high of $0.42 and a one-year low of $0.23. Currently, SJM Holdings has an average volume of 1,100.
