Through its subsidiary SJM Resorts, hotel-casino operator SJM Resorts has agreed to acquire approximately 81,000 square feet of former gaming space within the Lisboa Hotel in Macau for 529 million Hong Kong dollars ($68 million).
The space's controlling shareholder is Sociedade de Turismo e Diversões de Macau S.A., according to an SJM Holdings news release issued on the Hong Kong Stock Exchange.
The acquired area in the Chinese autonomous region of Macau is to be reconverted into gaming space. SJM said the space will be integrated into the Lisboa Hotel Macau, which is connected to SJM Holdings’ sibling hotel, Grand Lisboa Palace Resort Macau. Combined, the resort complex currently offers more than 1,500 guest rooms, and the Hotel Lisboa’s west wing currently is being renovated.
“The acquisition, together with the enhancement of Hotel Lisboa and Grand Lisboa, represents a coordinated transformation of the two iconic Lisboa properties. This strategic development will strengthen the brand’s competitive positioning of the group by fostering deeper customer loyalty across both VIP and mass market segments,” Daisy Ho, chairman and executive director of SJM Holdings and managing director of SJM Resorts, said in a news release.
In its interim 2025 earnings results, SJM Holdings reported a net loss of HK$182 million, a 12.3% year-over-year decline. SJM executives said the loss stemmed from increased operational costs.
SJM Holdings' revenue for the first half of 2025 increased by 6.1% to HK$14.6 billion, but adjusted earnings before interest, taxes, depreciation and amortization decreased by 5.1% to HK$1.6 billion.
In July, SJM Holdings announced it acquired approximately 213,000 square feet of office space over 12 floors in Hengqin, China, which has the only land crossing between Macau and mainland China. The company said it paid 724 million Chinese yuan ($110 million) for the site, which it plans to convert into a 250-room hotel due to open “within around 24 months of obtaining the requisite construction work commencement permit.” According to CoStar, the hotel is projected to open in 2027 and be in the upscale segment.