Tag Archives: Galaxy Entertainment
China – Galaxy’s 2023 GGR spikes by 322 per cent as both mass and VIP make comeback
Macau casino operator Galaxy Entertainment continue to bounce back from the pandemic generating revenue of $35.7bn in 2023, up a staggering 211 per cent year-on-year. The Group’s total GGR on a management basis in 2023 was $31.7bn, up 322 per cent year-on-year. Mass GGR was $26.5bn, up 328 per cent year-on-year. VIP GGR was $3.4bn, up…
China – Galaxy shows sequential improvement of 97 per cent in mass and 164 per cent in VIP
Macau casino operator Galaxy Entertainment posted revenue of $11.5bn, down 42 per cent year-on-year. Adjusted EBITDA was $0.6bn versus $3.5bn in 2021, leading to a loss of US$433m. The good news came in the improved performance in the fourth quarter with revenues of US$229m, up 99 per cent on the previous quarter with mass GGR…
China – Galaxy falls 52 per cent with 12 days of closures taking its toll
Macau’s troubles continued to weigh heavily on Galaxy Entertainment Group with net revenue down 52 per cent from last year and 16 per cent quarter-on-quarter with VIP play contributing little. Adjusted EBITDA was HK$581m versus HK$503m in Q3 2021 and HK$384m in Q2 2022. Galaxy Macau is the primary contributor to the group’s revenue and…
China – Galaxy bounces back with 53 per cent year-on-year improvement in 2021
Macau operator Galaxy Entertainment posted Net Revenue of $19.7bn, up 53 per cent year-on-year. Adjusted EBITDA was $3.5bn versus $1bn in 2020, which included a one-off expense reversal benefit of $0.2bn in Q4 2021. Net profit attributable to shareholders was $1.3bn versus $4bn in 2020. Galaxy Macau’s Adjusted EBITDA was $2.9bn versus $0.9bn in 2020….
China – SJM and Galaxy to maintain current deals with junket operators
Macau casino operators SJM Holdings and Galaxy Entertainment Group have both confirmed they will honour their existing agreements with junket operators at least until the end of their current deals. Morgan Stanley has said that more casino groups could terminate their arrangements with junkets. Tak Chun, the second-biggest junket operator in Macau, confirmed that some casinos have…
China – Hotels less than half full as Galaxy falls by 23 per cent
With hotel occupancy running at 45 per cent, Macau operator Galaxy Entertainment saw a dip in revenues over its third quarter by 23 per cent from the previous quarter but up 176 per cent year on year. Group Net Revenue was $4.3bn, Vs $1.6bn in Q3 2020 and $5.6bn in Q2 2021. Group Adjusted EBITDA…
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…
