Tuesday, July 16, 2024

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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.

Galaxy all-in in mass and entertainment, Phase 4 to open in 2027 – CFO

The management of Galaxy Entertainment Group underlined its strong belief in the "future of mass gaming and entertainment" as the main focus sectors for the gaming operator, while confirming that the development of Galaxy Macau's Phase 4 is 'well underway' and scheduled to be completed in 2027.

Construction services contracted for Galaxy Macau Phase 4

Galaxy Entertainment Group has entered into an agreement with China Construction for construction services at the Galaxy Macau Phase 4 development. The cost is MOP13 billion (US$1.63 billion).

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.

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.

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.

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

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.