SJM to buy Hotel Lisboa space for $67.8 million to expand Casino Lisboa

Macau casino operator SJM Holdings announced it will acquire 7,504 square metres of former gaming space in Hotel Lisboa from its parent company Sociedade de Turismo e Diversões de Macau, S.A. (STDM) for HK$529 million ($67.8 million), integrating the property into Casino Lisboa as part of a broader strategy to strengthen its presence on the Macau Peninsula.

The company said the expansion would allow it to redeploy gaming tables and slot machines from satellite casinos scheduled to close by the end of 2025.

SJM said the close link between Hotel Lisboa and Grand Lisboa would make them the largest integrated resort on the Macau Peninsula.

The group said the acquisition aims to “consolidate a leadership position on the Macau Peninsula” and drive “enhanced asset productivity and sharper yield management.” It added that the enlarged footprint is expected to boost non-gaming spend, extend customer stays, and strengthen its positioning toward VIP and premium-mass segments.

The move comes as SJM streamlines its satellite casino portfolio. Seven satellite properties are expected to close this year, while the company is considering acquisitions of Casino L’Arc Macau and Casino Ponte 16. Casino Grandview closed in July.

The company posted a net loss of HK$182 million ($23.3 million) in the first half of 2025, up by 12.3% from a year earlier, as higher expenses offset revenue gains. Adjusted EBITDA loss narrowed 5.1% to HK$1.65 billion.

Total net revenue rose 6.1% to HK$14.6 billion, driven by a 5.7% increase in net gaming revenue. Electronic gaming gross revenue jumped 26.3% to HK$1.4 billion. Marketing and promotional expenses rose 8.7%, while operating and administrative costs climbed 6.8%. The company declared no interim dividend.

At its flagship properties, Grand Lisboa Palace Resort’s occupancy rate rose 3.3 percentage points to 98.1%, while the Grand Lisboa hotel recorded a 14% increase in average daily room rates to HK$1,398 with stable occupancy.

SJM has also invested in new dining concepts and completed major MICE facilities at Grand Lisboa Palace Resort, pending licensing approval.