Macau gaming concessionaire Sociedade de Jogos de Macau S.A. has announced it is changing its name to SJM Resorts Ltd.
In a statement, board chairwoman Daisy Ho said, “The new name better reflects our prominent position in the tourism and leisure business and our dedication to the development and operation of integrated resorts in Macau, further underscoring our continued support to Macau’s role as a ‘world center of tourism and leisure.”
SJM’s parent company, SJM Holdings Ltd. listed on the main board of the Hong Kong Stock Exchange, will remain unchanged.
SJM’s long-awaited Cotai integrated resort, Grand Lisboa Palace, is expected to open in the third quarter of this year. According to Macau Business, the company, which reported HK$647 million (US$83.3 million) in losses during the first quarter, is counting on the Cotai project to boost its performance.
Since the death of founder Stanley Ho in January 2020, SJM has undergone a restructuring of its management, with Daisy Ho at the helm. Frank McFadden became the company’s new chief operating officer in June 2020, with co-chairman and executive director Timothy Fok Tsun Ting reducing his stake.
