SJM Resorts has reportedly Chief Operating Officer Ben Toh will retire from his full-time role from next week. However, he will continue for a time in a consulting role with the company. The media has reported that Toh plans to pursue personal priorities, as the news was shared with staff this week via an internal memo.
Company to go through organisational restructure
The memo also noted that SJM will not seek a like-for-like replacement for his role. The company will instead undergo an organisational restructure. This restructure will include the appointment of a chief hospitality office, who will be directly reporting to SJM’s Managing Director Daisy Ho. Toh’s prior work background includes various financial roles with Sands China. He initially joined as chief operating officer (Finance and Development) of SJM in 2020. He has also served as the chief financial officer of SJM from early 2021. Later in 2023, he was appointed as the COO. SJM Holdings, the parent company of SJM Resorts, did not immediately respond to a request for comment from SiGMA News.
Last month, Macau-based SJM Holdings (US$967 million) for Q1 2025, reflecting an 8.1 percent year-on-year increase. The company posted a profit of HK$31 million, compared to a loss of HK$74 million in the same quarter last year. The group’s gross gaming revenue (GGR) climbed to HK$7.6 billion, up 9.6 percent from the same period last year. Net gaming revenue (NGR) also rose by 7.5 percent to HK$6.9 billion. Non-gaming income contributed further to the top line, with new culinary offerings introduced at SJM’s key resorts. This shift reflects the company’s broader strategy to diversify its appeal beyond the casino floor.
SJM Holdings’ recovery
Additionally, SJM Holdings made an impressive recovery in 2024, returning to profitability after experiencing significant losses in 2023. The company reported a profit attributable of HK$3.2 million for the year, a turnaround from a loss of HK$2.01 billion in 2023. The operator’s net gaming revenue for the full year reached about HK$26.85 billion, this marks an increase of 33.8 percent from the previous year.
As of the end of 2024, SJM Holdings held a 13.1 percent share of Macau’s gross gaming revenue (GGR). The company also saw strong performance in the mass-market gaming segment, where it held a 15.8 percent share of the GGR. However, the company’s performance in the VIP gaming segment was more modest, with a 5.1 percent share.
Turning to Macau’s satellite operator’s future, , which owns the majority of remaining satellite venues, has yet to issue a public statement on the looming translation deadline. With only a few months left in a government-imposed transition period, the fate of 11 satellite casinos remains uncertain. Satellite casinos have been resurfacing with concerns that gaming concessionaires or the government have not begun discussions about their future. In mid-April, Macau Chief Executive Sam Hou Fai clarified that the fate of the city’s satellite casinos now lies firmly with the six gaming concessionaires, not the government.
