Galaxy Entertainment Group (GEG) is poised to report an adjusted EBITDA of HK$3 billion ($385.3 million), reflecting a 5 percent increase quarter-over-quarter and a 10 percent rise year-over-year, brokerage Jefferies estimates.
Sales are anticipated to rise by 12 percent from the previous quarter, driven by robust demand in the gaming and entertainment sectors.
The company’s gross gaming revenue (GGR) is expected to reach HK$10.9 billion ($1.9 billion), marking a 7 percent increase from the third quarter and surpassing the broader industry growth rate of 3 percent.
This growth is attributed to a diverse array of events and concerts scheduled for the quarter, featuring notable performances from artists such as Andy Lau, Dao Lang, and (G)I-DLE.
Moreover, the continuous ramp-up of Phase 3 at Galaxy Macau, alongside enhancements at StarWorld’s level 3—home to the largest Live Table Games terminals in Macau—has significantly contributed to the anticipated growth.
With results set to be announced in February, investors are keen to see if GEG is making strides in the premium mass segment, especially with the impending launch of the Capella hotel, which will offer around 100 luxury suites in mid-2025.
In light of these developments, Jefferies has slightly adjusted its forecasts, lowering the 2024 net profit estimate by 2.4 percent, while maintaining projections for 2025 and 2026.