SJM Holdings

SJM Holdings (Sociedade de Jogos de Macau) is Macau's oldest and most historic casino operator, founded in 1962 and headquartered in Macau. Listed on the Hong Kong Stock Exchange (HKEX: 880), SJM is the successor to the STDM (Sociedade de Turismo e Diversões de Macau) monopoly held by Stanley Ho from 1962 to 2002, giving SJM a unique 40-year heritage as Macau's original gaming operator. SJM is one of Macau's "Big Six" casino concessionaires, operating the iconic Grand Lisboa, Lisboa Casino, and the new Grand Lisboa Palace on the Cotai Strip.

SJM's flagship property, Grand Lisboa, is one of Macau's most recognizable landmarks — a 258-meter-tall lotus-shaped tower on the Macau Peninsula, featuring 430+ hotel rooms, 300+ gaming tables, and 800+ slot machines. The newer Grand Lisboa Palace on the Cotai Strip (opened 2021) is SJM's first Cotai Strip integrated resort, with 1,900+ hotel rooms across three luxury hotel brands (Palace, Grand, and Versailles), 300+ gaming tables, and extensive non-gaming facilities.

SJM is licensed and regulated by the Macau Gaming Inspection and Coordination Bureau (DICJ) under Macau's new 10-year gaming concession (2022-2032). The company is controlled by the Ho family (Stanley Ho's successors), with Daisy Ho (Stanley Ho's daughter) serving as Chairperson. SJM is known for its deep Macau roots, historic legacy, and transition from a traditional VIP-focused operator to a modern integrated resort company.

Grand Lisboa

Grand Lisboa is SJM's iconic flagship property on the Macau Peninsula — a 258-meter-tall lotus-shaped tower that is one of Macau's most recognizable landmarks. The property features 430+ hotel rooms and suites, 300+ gaming tables, 800+ slot machines, 14 restaurants (including the 3-Michelin-star Robuchon au Dôme), and the famous Star of Stanley Ho 218-carat diamond display. Grand Lisboa targets the premium mass-market and VIP segments, and is known for its central Macau Peninsula location.

Grand Lisboa Palace (Cotai Strip)

Grand Lisboa Palace is SJM's first Cotai Strip integrated resort, opened in phases from 2021. The property features 1,900+ hotel rooms across three luxury hotel brands — Palace Grand (European palace style), Grand Lisboa Palace (contemporary Macau), and Versailles (French palace-inspired) — 300+ gaming tables, 700+ slot machines, extensive retail and dining, and MICE facilities. Grand Lisboa Palace represents SJM's modernization and expansion to the Cotai Strip, competing directly with Galaxy, Sands, Wynn, MGM, and Melco.

Lisboa Casino (Historic)

Lisboa Casino is SJM's historic original casino, opened in 1970 on the Macau Peninsula. The property was Macau's primary casino for decades under Stanley Ho's monopoly and remains operational today, offering traditional gaming in a classic Macau setting. Lisboa Casino is connected to the Grand Lisboa via a walkway and serves as a historic landmark of Macau's gaming heritage.

Satellite Casinos

SJM historically operated numerous satellite casinos — smaller casinos operated under SJM's license but located in third-party hotels across Macau. Following Macau's 2022 gaming law reform, SJM has been transitioning satellite casinos to direct operation or closure, reducing its satellite footprint in line with new regulatory requirements.

VIP & Premium Mass Gaming

SJM historically relied heavily on VIP junket operations, partnering with major junket promoters to attract high-roller customers from mainland China. Following Macau's junket crackdown (2021-2022) and the collapse of Suncity Group (Macau's largest junket), SJM has shifted toward premium mass-market and direct VIP operations, significantly reducing its reliance on third-party junket operators.

1962 — STDM Gaming Monopoly

Stanley Ho, through STDM (Sociedade de Turismo e Diversões de Macau), was awarded Macau's exclusive gaming concession in 1962, establishing a monopoly that would last 40 years. STDM operated all casinos in Macau, including the iconic Lisboa Casino (opened 1970), and built Macau's modern gaming industry from the ground up.

1962-2002 — Monopoly Era

For 40 years, STDM (and its gaming arm SJM) held a monopoly over Macau's casino industry. During this period, SJM developed Macau's gaming infrastructure, opened numerous casinos, and established Macau as a regional gaming destination. The monopoly era was marked by Stanley Ho's dominant influence over Macau's economy and politics.

2002 — Macau Gaming Liberalization

Macau liberalized its gaming industry in 2002, ending STDM's monopoly. SJM was awarded one of three gaming concessions (alongside Sands and Wynn), marking the end of Stanley Ho's exclusive control and the beginning of Macau's transformation into the world's largest gambling market. SJM retained its historic properties and legacy customer base.

2006 — SJM Holdings IPO

SJM Holdings was incorporated and listed on the Hong Kong Stock Exchange (HKEX: 880), separating SJM's gaming operations from STDM's other businesses. The IPO raised capital for SJM's modernization and Cotai Strip development.

2008 — Grand Lisboa Opening

SJM opened Grand Lisboa, its iconic lotus-shaped flagship property on the Macau Peninsula. Grand Lisboa established SJM as a modern integrated resort operator, featuring the Michelin-starred Robuchon au Dôme restaurant and the famous Star of Stanley Ho diamond display.

2010-2018 — Cotai Strip Development

SJM began developing its first Cotai Strip property, Grand Lisboa Palace, to compete with Galaxy, Sands, Wynn, MGM, and Melco on the Cotai Strip. The project faced delays, cost overruns, and construction challenges, but represented SJM's strategic shift to the Cotai Strip.

2018 — Stanley Ho Retirement & Succession

Stanley Ho retired from active management, and the Ho family succession was formalized. Daisy Ho (Stanley Ho's daughter) became Chairperson of SJM Holdings, marking the transition to second-generation leadership. Stanley Ho passed away in 2020 at age 98.

2021 — Grand Lisboa Palace Opening

SJM opened Grand Lisboa Palace on the Cotai Strip in phases from 2021. The property, with 1,900+ rooms and three luxury hotel brands, represented SJM's long-awaited entry to the Cotai Strip and its modernization as an integrated resort operator.

2022 — New 10-Year Gaming Concession

SJM was awarded a new 10-year gaming concession (2022-2032) by the Macau government, one of six concessionaires. The new concession includes increased non-gaming investment commitments, stricter regulatory requirements, and the transition of satellite casinos to direct operation or closure.

SJM Holdings is committed to responsible gambling in compliance with Macau's strict gaming regulations, with comprehensive player protection measures across all properties.

Macau Regulatory Compliance

SJM operates under license from the Macau Gaming Inspection and Coordination Bureau (DICJ) and complies with Macau's gaming regulations, including age verification (21+), self-exclusion, anti-money laundering, and strict regulatory reporting. The new 10-year concession (2022-2032) includes enhanced responsible gambling and non-gaming investment requirements.

Player Protection Measures

• Age Verification: Strict 21+ age verification at entry to all SJM casinos, per Macau law.
• Self-Exclusion: Players can voluntarily exclude themselves from SJM casinos. Macau also operates a government-run self-exclusion registry for problem gamblers.
• Staff Training: All customer-facing staff complete responsible gambling training, including identification of problem gambling behavior and intervention procedures.
• Information Resources: Responsible gambling information is displayed prominently throughout SJM properties, with contact details for Macau's problem gambling support services.

Anti-Money Laundering (AML) & VIP Reforms

SJM implements comprehensive AML and KYC procedures in compliance with Macau's strict financial regulations, including transaction monitoring, suspicious activity reporting, and customer due diligence. Following Macau's junket crackdown (2021-2022) and the collapse of Suncity Group, SJM has significantly reduced reliance on third-party junket promoters and strengthened direct VIP operations.

Satellite Casino Transition

Under Macau's 2022 gaming law reform, SJM is transitioning its satellite casinos (third-party-operated casinos under SJM's license) to direct operation or closure. This reform enhances regulatory oversight and responsible gambling practices across SJM's entire portfolio.