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Galaxy Entertainment’s Phase 3 aims to create a cultural landmark in Macau
Macau gaming operator Galaxy Entertainment Group (GEG) officially opened Phase 3 on Wednesday, with the goal of establishing a new cultural landmark in the gaming hub.
Galaxy earnings set to return to 2019 levels on the back of Phase 3 opening – Jefferies
Earnings reported by Galaxy Entertainment Group could return to to 2019 levels with the help of the now fully opened Phase 3 Galaxy Cotai expansion, brokerage Jefferies indicated
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 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.
CLSA projects Macau GGR to grow 34% this year, reaching $30.3B
Macau’s 2024 gross gaming revenue (GGR) is likely to be up 34 percent from 2023, according to the brokerage CLSA, which says the forecast is 3.5 percent higher than its prior estimates after a positive Chinese New Year.
Galaxy triples marketing team amid premium mass competition
Macau gaming operator Galaxy Entertainment Group (GEG) has bolstered its marketing team amidst intensifying competition in the high-end premium mass segment, says Goldman Sachs.
Daily Asia Gaming eBrief: NagaCorp in gradual recovery, Naga 3 scheduled for 2029
NagaCorp was hit hard by COVID, with the company still experiencing a gradual recovery, notes Chairman Timothy McNally. The group is working hard to restructure its finances to figure out the scope of Naga 3, which is likely to only open in 2029.
Galaxy market share declined in Q4 2023 compared to pre-pandemic period – CBRE
CBRE analysts point out in a recent report that Galaxy Entertainment Group (GEG) market share in the Macau SAR gaming and hospitality sector experienced a decline in the fourth quarter of 2023 compared to the same period in 2019.