Galaxy Entertainment Group (GEG) announced an encouraging second quarter of 2023, with net revenue rising to HK$8.7 billion ($1.1 billion), representing a 257 percent year-on-year increase and a 23 percent quarter-on-quarter increase.
Galaxy Entertainment Group (“GEG”) proactively supports the Macau SAR Government’s policy of “Building Macau through Talent Training” through multi- pronged approaches to support holistic development and priority employment of local talents and to contribute to the sustainable development of the integrated resort industry.
Galaxy Entertainment Group (GEG) has announced a strong first quarter of 2023, with adjusted EBITDA rising to HK$1.91 billion - $244.22 million - (reversing a loss in the previous quarter), as net revenue rose by 72 percent yearly and 142 percent quarterly to HK$7.05 billion ($901.45 million).
Citigroup reaffirms that Macau's gaming industry shows no signs of slowing down. Despite the decline in total wagers in the premium mass market, average wagers remain strong and unaffected by seasonality.
Galaxy Entertainment Group has officially opened its new 700-room Andaz Hotel - the largest of the brand worldwide - in Macau on September 15th.
Galaxy Entertainment Group (GEG) will allow certain grantees to subscribe to approximately 0.09 percent of its share capital to fulfill the requirements of the Share Award Scheme 2021.
The mass-led recovery in Macau is persisting, with the mass market table drop surpassing 2019 levels by 5.7 percent at the integrated resorts of Galaxy Macau in 2Q23. Additionally, the mass table win was approximately 1 percent higher than in 2Q19, according to a report by CBRE Securities.
Andaz Hotel, a luxury hotel part of Cotai casino resort Galaxy Macau, is planning its official opening on September 15th, following the launch of Raffles Hotel in the same integrated resorts (IR) in mid-August.
Investment bank Citigroup notes Galaxy Macau Phase 3 has a "solid debut" of its premium mass room, recording a 52 percent higher average wager per player compared to pre-COVID levels.