SJM Holdings Ltd

00880: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	G.X	LOCK\|Fh!?	LOCK\|&^Zk&j

SJM Earnings: Margin and Market Share Miss; Valuation Cut by 5%

Jennifer Song

Aug 29, 2025

SJM's share price plummeted 13% following the release of lackluster second-quarter results. Gross gaming revenue, or GGR, fell 4% quarter on quarter, trailing the industry's 6% growth. Adjusted EBITDA dropped 28%, in stark contrast to the 5% average increase reported by peers.

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SJM Holdings Ltd

SJM Earnings: Margin and Market Share Miss; Valuation Cut by 5%

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