Thursday, June 13, 2024

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Galaxy Entertainment Group sees net revenue reach $1.1 billion in 2Q23

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 partners with DSAL on youth talent in tourism

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 sees adjusted EBITDA reach $244mln in 1Q23

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).

Macau gaming operators’ EBITDA growth expected to reaccelerate with opex stabilizing: Citigroup 

Following Citigroup’s Macau Gaming Corporate Day, where all six casino operators were hosted, the investment bank maintains a bullish stance on Macau gaming companies' oulook. 

Sands and Galaxy joint Macau GGR market share drops to almost 42% in 1Q24: Deutsche Bank

Sands China and Galaxy Entertainment Group controlled about 41.6 percent of Macau's GGR in the first quarter of 2024, while the other four concessionaires all increased market share from the same quarter last year, say analysts.

Galaxy delivers strong 1Q24 with GGR up 59%, reaching $1.23B

Macau gaming operator Galaxy Entertainment Group (GEG) has announced strong financial results for the first quarter of 2024, with gross gaming revenue (GGR) growing by 59 percent year-on-year, $1.23 billion, a 4 percent increase compared to 4Q23.

Galaxy and Sands China likely most benefited from holiday: Citigroup 

According to a recent Labor Day edition of the Premium Mass table survey from Citigroup, Macau gaming operators Galaxy Entertainment and Sands China, with the largest hotel room inventory, 'seem to benefit the most from the holiday crowd.’

Galaxy Entertainment announces new Capella Hotel to open in mid-2025

Macau gaming operator Galaxy Entertainment Group has announced a new partnership with operator Capella Hotels and Resorts to launch its first property in Macau.

Morgan Stanley cuts Galaxy’s earnings outlook due to market share loss

The investment bank Morgan Stanley has lowered Galaxy Entertainment’s earnings forecast due to market share loss.

Galaxy dividend distribution displays strong financials, Phase 4 still set for 2027 opening

Galaxy Entertainment Group indicated that its recently announced dividend is to be paid out in April is a sign of the group's strong financial situation.