{"id":276,"date":"2024-06-28T12:02:34","date_gmt":"2024-06-28T09:02:34","guid":{"rendered":"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/28\/sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn\/"},"modified":"2024-06-28T12:02:34","modified_gmt":"2024-06-28T09:02:34","slug":"sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn","status":"publish","type":"post","link":"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/28\/sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn\/","title":{"rendered":"SJM Holdings Posts Huge Loss in 2020 Amidst Macau Gaming Downturn"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/Oc32QKYTVmk\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The year 2020 witnessed a substantial downturn in Macau&#8217;s gaming industry, leading to a considerable drop in SJM Holdings&#8217; earnings. The company&#8217;s total income reached 75.1 billion Hong Kong dollars (6.866 billion pounds\/7.99 billion euros\/9.679 billion dollars), representing a 77.8% year-on-year decline.<\/p>\n<p>SJM Holdings&#8217; gaming revenue also experienced a sharp decrease, falling by 78.0% year-on-year to 73.0 billion dollars. Macau&#8217;s overall gambling revenue declined by 79.3%, primarily attributed to travel restrictions and closure measures. However, the final restrictions on visitors from mainland China were lifted recently.<\/p>\n<p>Examining the gambling revenue further, non-VIP table game revenue amounted to 58.6 billion dollars, down 76.7%. VIP gambling revenue plummeted by 85.1% to 20.4 billion dollars, and slot machine revenue decreased by 68.0% to 3.793 billion dollars. After deducting prizes and commissions, SJM Holdings&#8217; total income was 82.8 billion dollars, of which 9.71 billion dollars was deducted.<\/p>\n<p>Hotel, food and beverage, and other revenue also experienced a substantial decline, decreasing by 71.3% year-on-year to 2.025 billion dollars.<\/p>\n<p>SJM Holdings&#8217; flagship casino, Casino Grand Lisboa, generated revenue of 20.7 billion dollars for the year, down 84.0%. Other casinos operated by SJM Holdings generated revenue of 13.5 billion dollars, down 78.5%, and satellite casinos witnessed a revenue decline of 84.5% to 48.5 billion dollars. Satellite casinos are operated through service agreements between SJM Holdings and third-party promoters.<\/p>\n<p>After paying 33.7 billion dollars in gambling taxes and levies, SJM Holdings&#8217; remaining income was 39.4 billion dollars, down 77.6%. Gambling taxes and levies decreased by 78.3%.<\/p>\n<p>SJM Holdings&#8217; operating expenses were 7&#8230; <\/p>\n<p>From the total of 260 billion yuan, a substantial portion, 71 billion yuan, was allocated to operational and administrative costs. The company also incurred 124.7 million dollars in promotional expenditures, a significant decline of 98% compared to the previous year.<\/p>\n<p>This led to a net deficit of 3.15 billion dollars, contrasting with a profit of 3.37 billion dollars in 2019.<\/p>\n<p>Following the payment of 22.5 million dollars in taxes, a reduction of 56.4% year-on-year, SJM&#8217;s post-tax loss amounted to 3.17 billion dollars, compared to a profit of 3.32 billion dollars in the preceding year.<\/p>\n<p>The company also experienced a loss of 313.7 million dollars due to fluctuations in the fair value of investments, resulting in a total comprehensive loss of 3.49 billion dollars, in contrast to a total comprehensive profit of 3.27 billion dollars in 2019.<\/p>\n<p>Stay informed about the latest developments in the iGaming industry. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The year 2020 witnessed a substantial downturn in Macau&#8217;s gaming industry, leading to a considerable drop in SJM Holdings&#8217; earnings. The company&#8217;s total income reached 75.1 billion Hong Kong dollars&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SJM Holdings Hit Hard by Macau Gaming Slump<\/title>\n<meta name=\"description\" content=\"SJM Holdings\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/28\/sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"SJM Holdings Posts Huge Loss in 2020 Amidst Macau Gaming Downturn\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"SJM Holdings\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/28\/sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Stay Ahead of the Curve with Our Licensed Online Casino News\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T09:02:34+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/28\/sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn\/\",\"url\":\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/28\/sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn\/\",\"name\":\"SJM Holdings Hit Hard by Macau Gaming Slump\",\"isPartOf\":{\"@id\":\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-28T09:02:34+00:00\",\"dateModified\":\"2024-06-28T09:02:34+00:00\",\"author\":{\"@id\":\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"SJM Holdings\",\"breadcrumb\":{\"@id\":\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/28\/sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/28\/sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/2024\/06\/28\/sjm-holdings-posts-huge-loss-in-2020-amidst-macau-gaming-downturn\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SJM Holdings Posts Huge Loss in 2020 Amidst Macau Gaming Downturn\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/#website\",\"url\":\"https:\/\/luckycharmssweepstakescasinonodepositbonus.icu\/\",\"name\":\"Stay Ahead of the Curve with Our Licensed Online Casino News\",\"description\":\"Indulge in the excitement of licensed online gambling with our up-to-date news, comprehensive reviews, and informative insights. 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