SJM Swings to Loss in Third Quarter as Grand Lisboa Palace Turns Loss-Making

SJM Holdings announced its third-quarter results for the period ended end-September, swinging to a loss with a loss attributable to shareholders of $397 million and adjusted property EBITDA of $705 million, down 20 per cent year on year. Flagship project Grand Lisboa Palace swung to a loss during the quarter, with adjusted property LBITDA of $38 million; Grand Lisboa's adjusted property EBITDA fell 24.2 per cent year on year to $357 million. Adjusted property EBITDA at other properties rose 46 per cent year on year to $438 million, offsetting part of the decline in the business.

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