TLDR SJM Holdings outlined a plan in its 2026 Interim Report to raise asset productivity and grow premium gaming in Macau. The strategy follows the Macau government’s required closure of satellite casinos last year, which led SJM to a direct management model. SJM opened the second phase of Hotel Lisboa’s Crystal Palace gaming area in August and refurbished 400 hotel rooms. At Grand Lisboa Palace in Cotai, the company added table capacity and opened the Sky Phoenix West Tower VIP area. SJM reported a net loss of HK$295 million for the first half of 2026 and has cut staff by 5% this year, according to CBRE.
SJM Holdings says it is working to raise asset productivity and grow its premium gaming business in Macau. The casino operator laid out the plan in its 2026 Interim Report, published on Monday.
The company is also focused on running more efficiently. These changes follow its move to a direct management model.
SJM said it has started a coordinated program across its gaming, hotel, and non-gaming operations. The work includes upgrades on the Macau peninsula and changes to gaming areas at Grand Lisboa Palace Resort Macau in Cotai.
Shift to Direct Management Weighs on Margins
The direct management model came after the Macau government required satellite casinos to close last year. Eight satellite casinos had operated under the SJM concession.
Casino L’Arc was acquired by the group and added to its fully owned operations.
The change put pressure on the company. SJM was required to keep all staff from the former satellite operations, which it said led to lower margins and a drop in market share.
The company said it has since made progress in improving the appeal of its properties.
On the peninsula, SJM operates Grand Lisboa, Hotel Lisboa, L’Arc,