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    880   HK0880043028

SJM HOLDINGS LIMITED

(880)
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Delayed Hong Kong Stock Exchange  -  10:32 2022-06-26 pm EDT
3.380 HKD   +6.62%
06/23Macau Extends Casino Licenses Until End of 2022
MT
06/23Macau extends COVID shutdown of city, casinos stay open
RE
06/21Macau Lawmakers Approve Landmark Casino Reform Bill
MT
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SJM Gains on Proposed Macau Gaming Law Changes

05/15/2022 | 11:44pm EDT

By Ben Otto


SJM Holdings Ltd. shares are higher in early trade following news that Macau is weighing changes to gaming laws that could help casinos hard hit by a dearth of visitors during the pandemic.

SJM rose as much as 9.7% before paring its gains to 5.8% at 3.26 Hong Kong dollars (42 U.S. cents). The stock is down about 38% this year and 62% over the past 12 months.

One of the proposed changes floated by Macau officials Friday would allow so-called satellite casinos linked to the gaming hub's cash-strapped concessionaires to be run by management companies rather than face a need to be acquired by the concessionaries, a requirement that officials had previously considered.

Citi analysts said the proposal would particularly benefit SJM, which has ties to the majority of the city's satellite casinos.

"The proposed changes directed towards satellite casinos should alleviate investors' concerns on SJM's potential shouldering of the significant staff costs at the satellite casinos," Citi analysts said in a research note. "More important, the changes should clear up the last hurdle for its refinancing."

Another change in the law could reduce taxes on casinos, which Citi described as "good news for all concessionaires."

Melco International Development Ltd. adds 3.2% in mid-morning trade, while Wynn Macau Ltd. gains 0.5% and Galaxy Entertainment Group Ltd. gains 0.8%. Sands China Ltd. slides 0.5%.


Write to Ben Otto at ben.otto@wsj.com


(END) Dow Jones Newswires

05-15-22 2343ET

Stocks mentioned in the article
ChangeLast1st jan.
GALAXY ENTERTAINMENT GROUP LIMITED 4.52% 43.95 Delayed Quote.3.96%
MELCO HOLDINGS INC. 0.14% 3470 Delayed Quote.-14.86%
MELCO INTERNATIONAL DEVELOPMENT LIMITED 10.86% 5.81 Delayed Quote.-44.80%
SANDS CHINA LTD 6.49% 16.1 Delayed Quote.-16.85%
SJM HOLDINGS LIMITED 6.31% 3.38 Delayed Quote.-39.62%
WYNN MACAU, LIMITED 6.96% 4.92 Delayed Quote.-27.79%
All news about SJM HOLDINGS LIMITED
06/23Macau Extends Casino Licenses Until End of 2022
MT
06/23Macau extends COVID shutdown of city, casinos stay open
RE
06/21Macau Lawmakers Approve Landmark Casino Reform Bill
MT
06/21Macau legislators pass landmark casino reform bill
RE
06/21STANLEY HO : Macau hotel locked down after COVID case, 700 people to be quarantined-media
RE
06/19Hong Kong-Listed Casino Stocks Fall on Macau Covid-19 Outbreak
DJ
06/16SJM Gets Clearance for Refinancing of $2.4 Billion Syndicated Loans
MT
06/16SJM to Take Charge of Casino at Grand Emperor Hotel in Macau
MT
06/15SJM Holdings Limited Announces Directorate and Committee Changes
CI
06/14Macau to sign off on 6-month casino operator licence extensions -media
RE
More news
Analyst Recommendations on SJM HOLDINGS LIMITED
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Financials
Sales 2022 12 150 M 1 548 M 1 548 M
Net income 2022 -4 032 M -514 M -514 M
Net Debt 2022 23 194 M 2 955 M 2 955 M
P/E ratio 2022 -4,57x
Yield 2022 -
Capitalization 18 010 M 2 295 M 2 295 M
EV / Sales 2022 3,39x
EV / Sales 2023 1,53x
Nbr of Employees 20 300
Free-Float 33,2%
Chart SJM HOLDINGS LIMITED
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Technical analysis trends SJM HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 3,17 HKD
Average target price 4,88 HKD
Spread / Average Target 53,8%
EPS Revisions
Managers and Directors
Shu Fai So Vice Chairman & Chief Executive Officer
Hup Hock Toh Chief Financial Officer
Deputada Leong On Kei Co-Chairman
Tsun Ting Fok Co-Chairman
Chao Feng Ho Co-Chairman
Sector and Competitors
1st jan.Capi. (M$)
SJM HOLDINGS LIMITED-39.62%2 295
LAS VEGAS SANDS CORP.-11.18%25 543
MGM RESORTS INTERNATIONAL-32.62%12 884
WYNN RESORTS, LIMITED-31.46%6 707
GENTING SINGAPORE LIMITED-6.45%6 314
KANGWON LAND, INC.6.65%4 029