Tag Archives: Galaxy Entertainment
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…
Philippines – Leisure & Resorts World no longer looking at Boracay casino
Leisure & Resorts World Corporation (LRWC) appears to have pulled the plug on its partnership with Galaxy Entertainment to build the $550m Galaxy Boracay Casino on Boracay Island in the Philippines. Chairman Eusebio Tanco confirmed that a casino there was no longer on the company’s horizon. “We are not looking at casino. But we’re keeping…
Japan – Galaxy Entertainment confirms ninth expression of interest in Japan IRs
Macau casino operator Galaxy Entertainment has gone all in on expansion in Japan with confirmation it has lodged its interest in eight Japanese localities with a ninth to come Galaxy Entertainment Group Vice Chairman Francis Lui said: “Galaxy remains fully supportive of the Japanese Government’s goals to introduce a globally renowned IR and MICE industry…
Japan – Osaka casino tender to start in earnest in December
Hirofumi Yoshimura, the Governor of Osaka Prefecture, has confirmed that Osaka will launch the next stage of its formal tender process for an IR operator in December. With a series of big-name, international casino operators pulling out of Osaka, the tender is now believed to include just three casino names: MGM Resorts, Genting Singapore and…
