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Tag Archives: Galaxy Entertainment

Philippines – Leisure and Resorts World ‘looking forward’ to resuming Boracay talks with Galaxy

Leisure and Resorts World Corp (LRWC) has said it has yet to talk to its former project partner Galaxy Entertainment over relaunching its bid to build a casino-resort on the Philippine holiday island of Boracay. Leisure and Resorts World said: “We would like to clarify that the company has yet to talk to our partner,…

Philippines – Galaxy on alert as Philippines lifts ban on new casino projects

In an unexpected move, PAGCOR, the Philippine’s gaming regulator, has confirmed it is lifting the moratorium introduced by President Rodrigo Duterte in 2018 to ban new casino project, and that it will start looking at new applications for casinos, including any for holiday island Boracay. With the government keen to boost the economy following the…

China – Galaxy forced to delay opening of Galaxy Macau Phase 3 despite GGR bouncing back

Whilst delighted that second quarter revenues were rebounding, Macau operator Galaxy Entertainment has confirmed that COVID has delayed the unveiling of Galaxy Macau Phase 3 until 2022. The company said limitations on workforce access due to the COVID-19 pandemic has caused the delay to the project, that will include the Galaxy International Convention Center, several…

Japan – Galaxy and SBM pull out of race for Yokohama’s preffered casino partner

Galaxy Entertainment and Société des Bains de Mer have pulled out of the race to be Yokohama’s preferred casino partner for one of Japan’s three initial casino licences, although Galaxy has said it remains interested in other opportunities in Japan. Their withdrawal leaves three remaining candidates; Melco Resorts and Entertainment, Genting Singapore and Sega Sammy…

China – Galaxy sees 5.6 per cent quarter-by-quarter increase in GGR

Macau casino operator Galaxy Entertainment was ‘pleased with the outcome’ of its first quarter financials, which saw quarter by quarter GGR growth of 5.6 per cent, and a plateauing of performance compared to last year. In Q1 2021, the group posted net revenue of $5.1bn, up one per cent year-on-year and flat quarter-on-quarter. Adjusted EBITDA…

China – Galaxy sees quarterly increase of 34 per cent in Macau

With revenue up 34 per cent month to month, Macau operator Galaxy Entertainment is confident that the recovery is finally underway in the SAR. The casino operator posted net revenue of $1,550m, down 88 per cent year-on-year. Galaxy Macau, the primary contributor to the group’s revenue and earnings generated revenue of $626m, down 93 per…

China – Galaxy’s Q1 revenues fall by 61 per cent

Macau casino giant Galaxy Entertainment saw its first quarter revenue fall by 61 per cent year-on-year and quarter-on-quarter coming in at $5.1bn due of course to the coronavirus. Adjusted EBITDA was $283m, down 93 per cent year-on-year and down 93 per cent quarter-on-quarter. Galaxy Macau’s Adjusted EBITDA was $329m, down 89 per cent year-on-year and…

China – A ‘range of geo-political and economic issues’ hamper Galaxy’s results

‘A slowing world economy, introduction of the VIP smoking ban, RMB fluctuation, continuing competition from regional markets, the pneumonia outbreak and disruption in Hong Kong,’ all affected Galaxy Entertainment’s 2019 financial year. The normally resilient Macau powerhouse reported an 8.4 per cent year-on-year decline in net revenue to HK$13bn in the three months to 31…

Japan – Genting and Galaxy pull out of Osaka IR race leaving MGM in pole position

Both Genting Singapore and Galaxy Entertainment have pulled out of the race to and a casino IR licence in Osaka, leaving MGM Resorts and its local partner Orix in sole position if the Osaka Prefectural Government is awarded a licence. Las Vegas Sands, Melco Resorts & Entertainment and Wynn Resorts have all previously left the…