HK Stock Market Move | SJM Holdings (00880) closed down more than 3% in the final trading session, which affected the short-term performance due to the closure of its various satellite entertainment venues.

SJM HOLDINGS (00880) fell more than 3% at the close, dropping 2.67% to 2.19 Hong Kong dollars with a turnover of 30.626 million Hong Kong dollars. In terms of news, Macau's gambling regulatory policies are becoming stricter. SJM Holdings stated that last year, in compliance with regulations, they orderly closed their various satellite entertainment venues which has put short-term pressure on performance, leading to transitional adjustments in overall profitability and market share. However, they pointed out that the structural impact of satellite venue closures has been largely eliminated, resources have been reallocated, and they will continue to focus on improving operational efficiency, driving profit growth, and strengthening product offerings to expand their high-quality customer base. Goldman Sachs released a research report stating that it had previously anticipated that SJM Holdings' performance in the fourth quarter of 2025 may significantly decline, reflecting operational disruptions and loss of total gaming revenue due to the closure of satellite casinos, as well as additional costs incurred in taking over approximately 3,000 employees, combined with the continued performance fluctuations at the Grand Lisboa Integrated Resort.