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Daily Asia Gaming eBrief: Galaxy 4Q23 EBITDA nears $358 million

Good Morning

Macau operators are benefiting from the massive resurgence in gaming, with Galaxy now announcing that its 4Q23 results yielded nearly $358 million in EBITDA, prompting the group to be Macau’s first to give out a dividend for the period. Meanwhile, The Star has released its much-delayed results, indicating just $6 million in profit for 2023, amongst its remediation woes. Meanwhile, Sands China is doubling down on its non-gaming spend, with some $1.4 billion allocated to tricking out its Londoner property and revamping its Cotai Arena, as it focuses on MICE and entertainment.

What you need to know


On the radar


AGB Intelligence

MACAU

Galaxy sees EBITDA reach nearly $358M in 4Q23

Macau gaming operator Galaxy Entertainment Group saw strong financials in its fourth quarter of 2023, with its most recent results showing EBITDA levels reached nearly $358 million during the period. The impressive metrics led GEG to become ‘the first Macau operator’ to release a dividend for the period, likely to appease shareholders. This was helped by nearly $4 billion in GGR over the course of 2023, as the group surged back.


The Star inquiry likely to have a negative impact on Queen’s Wharf Brisbane

Ben Lee

The announcement that The Star would be the subject of a second Royal Commission inquiry doesn’t bode well for its financing, having already undergone multiple equity-raising rounds to help fund its Queen’s Wharf Brisbane project. But while regulatory issues are heavy in New South Wales, the group’s Brisbane project could be “too big to fail”, notes expert Ben Lee.


Corporate Spotlight

Basketball player Kai Sotto is the new 1xBet ambassador in Asia

Kai Sotto, Basketball player, 1xBet ambassador, Asia

1xBet, a leading global betting company, proudly announces its partnership with rising basketball star Kai Sotto. Hailing from the Philippines, Kai Sotto will serve as the brand ambassador, championing basketball in his homeland and across various Asian nations, extending the 1xBet brand presence across Asia.


Industry Updates


ASEAN Gaming Summit, 2024

Registrations for the 2024 ASEAN Gaming Summit, the calendar conference of excellence of the gaming industry in the region, are officially open. Scheduled from 19th to 21st March 2024, the Summit is the gateway to the Next-Gen of gaming in Asia.


Asia Gaming Awards 2024 recognizing excellence on March 20th in Manila

Daily Asia Gaming eBrief: Galaxy 4Q23 EBITDA nears $358 million

The Asia Gaming Awards, hosted by Asia Gaming Brief, is set to once again recognize and celebrate the outstanding achievements in the Asian gaming industry. The Awards ceremony will take place on the evening of Wednesday, 20th March 2024, at the Grand Ballroom of the Shangri-La The Fort, Manila.

Asia-Gaming-Awards 2024

MEET THEM AT ASEAN 2024


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AGBrief Editorial
AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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