SJM Holdings braces for bigger loss in FY22

It expects to record a loss of $7.8b.

Casino operator SJM Holdings has informed its shareholders that it will likely incur bigger losses for FY22.

In a bourse filing, SJM Holdings said it expects a loss attributable to owners of $7.8b for FY22, which is bigger than its $4.14b loss in FY21.

The casino operator explained that the loss expected for FY22 includes an impairment charge of approximately $1.21b  linked to refurbishments made to the Jai-Alai Building.

The operator added that it has also been operating “at a considerable loss due primarily to the travel restrictions and social distancing regulations which were in force in Macau due to the COVID-19 pandemic.”

In the nine months ended 30 September (9M22), the operator’s loss was already $4.6b, much higher than the $2.7b in 9M21.