Good Morning. Entertainment is my middle name. In the case of Macau operator Galaxy, that is more than true, as displayed by the positive impact that high-profile concerts have had on both its gaming and non-gaming segments. The group posted a 14 percent increase in EBITDA for 1H25, evidencing how its long-term investment strategy is paying off. Also in Macau, Wynn is hoping to edge into the events space, planning hundreds of millions in capex for a new venue that it’s hoping to support with a new bond issuance topping $500 million.
What you need to know
- Galaxy Entertainment’s 1H25 adjusted EBITDA hits $881M, up 14% YoY, driven by record traffic and entertainment strategy.
- Wynn Macau seeks $500M through bond market for expansion and refinancing, driving plans for $250M investment in Macau this year.
On the radar
- The Star to sell Queen’s Wharf Brisbane stake to JV partners.
- SkyCity Adelaide retains casino license amongst ‘significant failings’.
- Philippines eyes general tax amnesty, tighter online gambling rules.
- Entain 1H25 results ‘ahead of expectations’, despite Australian softness.
AGB Intelligence
RESULTS
Entertainment boost drives Galaxy to new heights
As one of Macau’s top-tier mass-focused operators, Galaxy Entertainment Group saw strong returns on its investment on entertainment in the first half of the year, with EBITDA up by 14 percent, hitting $881 million. Breaking new records for same-day visitation, the group’s focus on high-profile concerts has not only driven up hotel occupancy, but appears to also be ushering visitors to the casino floor, helping to increase its market share amongst a highly competitive environment.
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