Macau gaming operator Sociedade de Jogos de Macau (SJM) has announced its third quarter results for 2017. Gaming revenue for the group was HK$10,015 million, a 0.6 percent increase from the third quarter of 2016.
Adjusted EBITDA was HK$726 million, a decrease of 10.4 percent over Q3 2016, and for the nine months ended 30 September 2017, Adjusted EBITDA was HK$2,233 million, a decrease of 8.6 percent from the first nine months of 2016.
Gaming revenue from SJM’s flagship Casino Grand Lisboa was HK$3,709 million, an increase of 19.3 percent from Q3 2016.
According to their latest announcement, Typhoon Hato that hit Macau in August 2017 affected the construction of the Grand Lisboa Palace, SJM’s integrated resort in Cotai, though they still continued construction in Q3. Another factor for the delay in construction was the fire incident in September 2017 at the construction site. The Group is aiming to complete the project by the end of 2018 with a budget of HK$36 billion.