SJM Holdings has made a significant change in its management team with the appointment of Christopher Shih Ming Ip as its new chief financial officer. Ip will be taking over from Ben Toh Hup Hock, who is transitioning to the role of chief operating officer at SJM. Both appointments are effective as of December 6.

Ip comes to SJM with a wealth of experience, having previously served as the CFO of The Hongkong and Shanghai Hotels and in various senior management roles at the Jardine Matheson Group, Morgan Stanley, and Deutsche Bank. He holds a degree in international relations from Brown University and a Master of Business Administration from the London Business School.

Toh, who has been serving as the CFO of SJM since early 2021, is making the move to the COO role. His experience includes a senior finance position at Sands China.

The restructuring of the management team comes on the heels of SJM’s impressive Q3 results. The company saw a 492.9% increase in net gaming revenue to HK$5.41bn, with gross gaming revenue up 502.0% to $5.73bn. This growth can largely be attributed to the easing of pandemic measures in Macau.

Adjusted EBITDA for Q3 amounted to $566m, a stark contrast to the negative $968m posted in the previous year. For the year-to-date, net gaming revenue increased 198.6% to $14.11bn, with gross gaming revenue also up 196.9% to $14.91bn.

The reorganisation of the management team and the appointment of a new CFO come at a time of significant growth for SJM, as the company continues to benefit from the easing of pandemic measures and reports impressive financial results.

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