Socideade de Jogos de Macau rebrands to SJM Resorts

In Portuguese, the subsidiary will now be referred to as SJM Resorts, S.A., or simply “SJM”.

The name of the parent company remains as SJM Holdings Limited.

SJM’s board said it believes that the new name better reflects the group’s prominent position in the tourism and leisure business, and its dedication to the development and operation of integrated resorts in Macau.

The operator said it will soon open its newest flagship Grand Lisboa Palace integrated resort on Cotai, Macau, extending the traditions of its other resorts, Hotel Lisboa and Grand Lisboa and, it said, setting a new milestone in Macau’s development.

Results published in February showed that SJM’s revenue dropped 77.8% in 2020 to HK$7.51bn (£686.6m/€799.0m/USD$967.9m), after Macau’s gaming industry suffered widespread disruption throughout the year.

Casino operators in the region have shown signs of recovery since travel restrictions were lifted, with results for May 2021 across the jurisdiction showing revenue figures of MOP10.45bn (€1.0bn/£920m/$1.3bn), representing a 492.2% increase on the same month in 2020.