Macau’s SJM Resorts announces special bonus after strong 2024 performance

Rajashree Seal December 27, 2024

SiGMA news

Macau gaming operator SJM Resorts has announced a “special discretionary bonus” for its employees, equivalent to one month’s salary, to be paid on January 20, 2025. The announcement, shared via an internal memo by Daisy Ho, Managing Director of SJM Resorts, expresses gratitude for the staff’s “contribution and outstanding performance” over the past year.

According to the firm, the bonus will benefit approximately 98% of SJM Resorts’ employees. However, , there was no mention of any possible 2025 pay raises in the memo. In the statement, Ho recognised the hard work of the staff, and said, “SJM Resorts has consistently optimized and innovated its products and services in 2024, achieving steady business growth thanks to the hard work of every team member.”

The announcement was also posted on the social media page of the New Macau Gaming Staff Rights Association, a local gaming labour group. The memo, signed by Daisy Ho, reiterated the company’s gratitude to employees, saying the bonus reflects the firm’s appreciation for their efforts in ensuring “steady progress” in business performance throughout 2024.

SJM Resorts operates prominent gaming properties in Macau, including the iconic Lisboa and Grand Lisboa in downtown Macau, as well as Grand Lisboa Palace in the Cotai district.

The company’s memo encouraged employees to continue their efforts “with a positive attitude,” aiming to further “expand the company’s international reputation.”

This announcement marks the beginning of a period when Macau’s gaming operators typically disclose bonus and salary adjustments for their employees. SJM Resorts is the first among Macau’s six gaming operators to announce a discretionary bonus for 2025.

Meanwhile, SJM Holdings, the Hong Kong-listed parent company of SJM Resorts, reported significant financial progress earlier this year. For the three months ending September 30, 2024, the group reported a profit of HKD101 million (US$13.0 million), with adjusted EBITDA reaching nearly HKD1.04 billion, reflecting an 83.2% increase compared to the previous year.

Morgan Stanley recently revised its 2024 EBITDA estimate for SJM Holdings, increasing it by 4.9% to nearly HKD3.84 billion (USD491 million). However, its 2025 forecast has been decreased by 2.2% to HKD4.42 billion (USD566 million), citing increased market share estimates offset by higher operating expenses.

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