SJM (0880) said it recorded a net loss of HK$3.03 billion last year, compared to a net profit of HK$3.21 billion in 2019. Its flagship Casino Grand Lisboa saw a 84 percent fall in gross gaming revenue for the year. The Grand Lisboa Hotel's occupancy rate fell to 17.9 percent for the full year, and the average room rate fell 2.9 percent to HK$1,465. But it added that the construction of the Grand Lisboa Palace, an integrated resort on Cotai, has been completed. SJM recorded a 7.9 percent increase, while Galaxy Entertainment (0027) rose nearly 9 percent after the Macau said ti would reopen quarantine-free travel from mainland China, effective today.

Source: The Standard February 23, 2021 19:07 UTC