SJM Holdings has issued US$540 million in senior notes due 2031, carrying a 6.5% coupon, as part of efforts to strengthen liquidity and enhance financial flexibility amid ongoing structural changes in Macau’s gaming sector. The issuance, reported by industry media, comes as SJM continues to rebalance its capital structure following the post-pandemic recovery and the transition away from satellite casino operations.
The city of Osaka has confirmed plans to sell a central parcel of land originally reserved for Expo-related use on Yumeshima island, located adjacent to the future MGM Osaka Integrated Resort. According to local officials, the move reflects a shift from short-term Expo utilisation toward longer-term urban and commercial development following the conclusion of Expo 2025, with the land expected to attract private-sector interest.
Investment bank JP Morgan has expressed surprise over the unexpected share price declines seen in Sands China and Melco Resorts & Entertainment, noting that the sell-off does not appear to be supported by any clear deterioration in fundamentals. In a recent research note, analysts said they were “baffled” by the sharp pullback, particularly as both operators continue to demonstrate stable operational trends within Macau’s recovering gaming market.
Century Entertainment International Holdings Limited has announced plans to develop online gaming applications through a newly established joint venture with a partner based in the Philippines, signalling a strategic move to diversify beyond its existing land-based casino exposure. According to disclosures, the joint venture will focus on the design, development and operation of online gaming platforms targeting regulated and permissible markets, aligning with broader digitalisation trends across the Asian gaming industry.
Analysts at Citigroup concluded that Macau’s major casino concessionaires saw less improvement in operating leverage during the December 2025 quarter than expected largely because of higher incremental operating expenses tied to external events and structural changes, despite underlying revenue growth trends.
Author: Janice Chew • Saturday, 10/01/2026
