---
title: "\"Big Banks\" UBS: SJM Holdings' Q3 EBITDA meets expectations, rating \"Sell\""
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/265635519.md"
description: "UBS published a research report stating that SJM Holdings' EBITDA for the third quarter was HKD 881 million, a year-on-year decrease of approximately 15%, but a quarter-on-quarter increase of about 28%, in line with the bank's and market's forecast of HKD 856 million to HKD 898 million. The bank has given the company a \"Sell\" rating with a target price of HKD 2.8. The bank mentioned that SJM's management plans to close the remaining four satellite casinos by the end of the year, while integrating its customer and marketing teams, and expects next year's capital expenditure to be HKD 1.5 billion"
datetime: "2025-11-13T03:38:50.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265635519.md)
  - [en](https://longbridge.com/en/news/265635519.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265635519.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/265635519.md) | [繁體中文](https://longbridge.com/zh-HK/news/265635519.md)


# "Big Banks" UBS: SJM Holdings' Q3 EBITDA meets expectations, rating "Sell"

UBS published a research report stating that SJM Holdings (00880.HK) had an EBITDA of HKD 881 million in the third quarter, a year-on-year decrease of approximately 15%, but a quarter-on-quarter increase of about 28%, in line with the bank's and market's forecast of HKD 856 million to HKD 898 million. The bank has given the company a "Sell" rating with a target price of HKD 2.8.

The bank mentioned that SJM's management plans to close the remaining four satellite casinos by the end of the year, while also integrating its customer and marketing teams, and expects next year's capital expenditure to be HKD 1.5 billion

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