Tuesday, November 12, 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).

Daily Asia Gaming eBrief: Galaxy sees strong 3Q24 results, strong hotel occupancy

Results, results and more results. Looking at Macau, Galaxy Entertainment Group saw strong revenue growth, rising to $1.38 billion in 3Q24. This was boosted by steady hotel occupancy, which helped boost the group’s financial performance. Moving to Singapore, Genting Singapore saw its net profit plunge by 63 percent, with less visitation and more competition from MBS. And in the Philippines, Belle Corp’s share of gaming revenue from City of Dreams Manila dropped during the first nine months of the year, but its leasing revenue from the property increased.

Galaxy Entertainment revenue up 11% YoY to $1.38B in 3Q24

Galaxy Entertainment Group (GEG) reported strong financial performance for the third quarter of 2024, with an 11 percent year-on-year increase in group revenue to $1.38 billion.

Macau premium mass play hits record high during October Golden Week: Citigroup

According to a report from Citigroup, Macau’s premium mass wagers surged during the October Golden Week, shattering previous records.

Accelerating gaming spending in Macau amid China’s weak economy: Citigroup

A recent table survey from Citigroup reveals a significant acceleration in gaming spending in Macau, with the average wager for high-stakes players—commonly referred to as ‘whales’—increasing by 43 percent.

Galaxy’s strong finances fuel growth in Macau and potential entry into Thailand: CBRE

Galaxy Entertainment Group (GEG) is well-positioned to 'invest heavily' in growth opportunities in Macau and potentially other jurisdictions, such as Thailand, while still returning capital to shareholders through dividends, says CBRE.

Macau’s premium mass wager up with Galaxy gaining market share: Citigroup

Citigroup, in its August premium mass table survey, has observed that Macau continues to demonstrate resilience in gaming amid China’s economic headwinds, maintaining robust player demand.

Daily Asia Gaming eBrief: Galaxy books $2.57B in 1H24 GGR, profits up 52%

Galaxy Entertainment Group had much to be happy about when announcing its first half year results. The operator saw a 52 percent uptick in profit, on the back of a gross gaming revenue tally that reached $2.57 billion. The group is now focused on ramping up its newest offerings and preparing its Phase 4 - set to be more family-focused, but including gaming. Meanwhile, Thailand continues to see a push and pull regarding its proposed IR bill, as the removal of the casino-friendly Prime Minister raises succession questions.