SJM Holdings Limited, a casino gaming company based in Macau, is hoping to reopen the renewed Casino Jai Alai situated nearby the main ferry terminal in Macau in mid 2016 according to a report in GGRAsia based on note from Analysts Sanford C. Bernstein Limited.
The message from Vitaly Umansky and his coworkers Bo Wen and Simon Zhang reads that Jai Alai next to Casino Oceanus, another SJM Holdings property, would perhaps reopen in the middle of 2016 and would feature 130 hotel rooms and 45 table games. Earlier indications coming from a time when the Macau market was more robust indicated that the Jai Alai operations would be combined with those of Casino Oceanus.
Last week it was reported that the group announced a profit decline of 54.1 percent in the first six months of 2015 compared to the same time last year. According to several analysts, SJM Holdings Limited is striving to increase it mass market after seeing the casino gross gaming revenue in Macau decrease slowly in 2015.
Sanford Bernstein Ltd is said to have noted that SJM Holdings is doing its best to deal with the shift to mass in Macau, but the company is still very much focused on satellite and VIP sectors. Firstly, it refers to the changes in the Macau gaming structure in the long run and, secondly, it refers to satellite casinos which depend on the gaming license of SJM Holdings but are operated by third parties.
After the results statement of SJM Holdings, Union Gaming Securities Asia Limited said that the company’s flagship property in Macau, Casino Grand Lisboa, in the fourth quarter would become a mass market gaming zone. This zone would include 11 to 14 gaming tables adding to the casino’s total of 273 mass market tables.
In May 2015, SJM Holdings told Daiwa analysts that it hoped to see Casino Jai Alai reopen its doors in a year’s time.