Galaxy Entertainment Reports 4% Revenue Growth in Third Quarter

China.- 10 November 2026 | www.zonadeazar.com Galaxy Entertainment Group (GEG) reported net revenue of HK$12.7 billion for the third quarter of 2026, representing year-on-year growth of 4% and a 7% increase compared with the previous quarter.

The Macau casino operator also recorded adjusted EBITDA of HK$3.7 billion, an increase of 10% compared with the same period in 2025.

The results reflect stronger tourism activity and the performance of the group’s principal integrated resorts.

Key Financial Results

Between July and September 2026, Galaxy Entertainment reported:

  • Net revenue: HK$12.692 billion, up 4% year-on-year.
  • Adjusted EBITDA: HK$3.688 billion, an increase of 10%.
  • Net gaming revenue: HK$10.324 billion.
  • Non-gaming revenue: HK$1.698 billion.
  • Construction materials revenue: HK$670 million.

The results were supported by growth across the group’s gaming and entertainment operations.

Gross Gaming Revenue Increases 5%

The company generated gross gaming revenue (GGR) of HK$12.875 billion, representing year-on-year growth of 5%.

Performance varied across the principal gaming segments:

  • Mass-market gaming: HK$9.194 billion, down 3%.
  • VIP gaming: HK$2.883 billion, up 41%.
  • Electronic gaming: HK$798 million, an increase of 8%.

Growth in VIP gaming helped offset weaker mass-market table performance.

Galaxy Macau Drives Group Performance

Galaxy Macau, the company’s flagship integrated resort, continued to make the largest contribution to financial performance.

The property recorded approximately HK$3.5 billion in adjusted EBITDA, representing year-on-year growth of 15%.

By comparison, StarWorld Macau generated HK$279 million in adjusted EBITDA, a decline of 24%.

Broadway Macau recorded HK$7 million, compared with HK$1 million during the third quarter of 2025.

The figures highlight differing trends across the group’s major properties.

Favourable Gaming Results Support EBITDA

Galaxy Entertainment reported that favourable gaming outcomes contributed significantly to its quarterly performance.

These results added approximately HK$584 million to adjusted EBITDA.

Excluding this effect, normalised adjusted EBITDA reached HK$3.104 billion, representing a 7% year-on-year decline.

The difference highlights the importance of distinguishing reported financial performance from underlying results adjusted for gaming volatility.

Macau Welcomes 11.2 Million Visitors

Tourism recovery was another important factor supporting the group’s operations.

During the third quarter, Macau welcomed approximately 11.2 million visitors, an increase of 8% compared with the previous year.

Of these, 8.6 million arrived from mainland China, representing growth of 10%.

Higher visitor numbers supported hotel occupancy, entertainment activities and other services offered across integrated resorts.

Francis Lui Highlights Tourism Recovery

Francis Lui, Chairman of Galaxy Entertainment Group, explained that the quarter initially experienced some disruption due to the FIFA World Cup, which concluded on 19 July.

However, the impact was temporary, with business recovering as tourism increased during the summer holiday period.

The executive also highlighted the group’s cooperation with Macau’s tourism authorities and efforts to attract more international visitors.

Investment and Expansion at Galaxy Macau

Galaxy Entertainment continues investing in projects designed to expand its tourism and entertainment offering.

Key priorities include:

  • The continued development of Capella at Galaxy Macau.
  • Additional hotel facilities.
  • Expanded convention and event infrastructure.
  • New cultural and sporting attractions.
  • Progress on Galaxy Macau Phase 4, scheduled for completion in 2027.

These developments support Macau’s wider strategy of diversifying its tourism and entertainment industry.

Strong Financial Position

As of 30 September 2026, Galaxy Entertainment held HK$36.4 billion in cash and liquid investments.

After accounting for HK$2 billion in debt, its net position stood at HK$34.4 billion.

The company also paid an interim dividend of HK$0.90 per share in September.

This financial position supports continued investment in existing resorts and future development projects.

Industry Impact and Next Steps

The third-quarter results demonstrate Galaxy Entertainment’s revenue growth while highlighting differences across its operating segments.

VIP gaming and Galaxy Macau contributed to stronger reported performance, although normalised adjusted EBITDA declined.

With HK$12.7 billion in revenue, HK$3.7 billion in adjusted EBITDA and further investments planned for 2027, Galaxy Entertainment is strengthening its presence in Macau’s gaming and tourism market.

Edited by: Cristobal R.

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