Galaxy Ent 3Q EBITDA at US$471mln, up 10pct from a year ago

Macau casino operator Galaxy Entertainment Group Ltd reported third-quarter 2026 adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of just under HKD3.69 billion (US$470.6 million). The result was up 10.4 percent from the prior-year period, according to an announcement on Friday. Net revenue in the three months to September 30 rose by 5.1 percent from a year earlier to HKD12.02 billion. The group’s gross gaming revenue (GGR) in the July-to-September period stood at HKD12.88 billion, up 5.2 percent from a year ago. Galaxy Entertainment runs its flagship casino resort Galaxy Macau (pictured) on Cotai; the StarWorld Hotel, the group’s only venue on the Macau peninsula; and Broadway Macau, the mass-market-focused property next door to Galaxy Macau. Galaxy Macau recorded net revenue of HKD10.84 billion for the reporting period, a 7.4-percent increase from a year ago. The property’s adjusted EBITDA stood at HKD3.54 billion, up from HKD3.07 billion in the third quarter of 2025. Galaxy Entertainment Chairman Francis Lui Yiu Tung said in the announcement that the group had “delivered a solid performance” in the third quarter, despite market-wide GGR in Macau contracting by about 4 percent year on year. “Our premium offering continued to make good progress during the quarter. Capella at Galaxy Macau ramped up well and the expansion of Horizon Plus from six to ten private salons provided additional capacity to meet the demand from high-value customers and strengthened our position in the premium market,” Mr Lui said. Nonetheless, the executive acknowledged that “GGR growth has moderated in the near term, reflecting a combination of short-term factors, including possibly taxation policy changes, slower global economic growth and ongoing geopolitical uncertainty”. “Despite these near-term factors, we remain confident in the medium- to longer-term outlook for Macau,” he added. Galaxy Entertainment also said it was continuing work on the fit-out of Phase 4 of Galaxy Macau. Phase 4, scheduled for completion in 2027, is to include 1,350 suites and hotel rooms, a 5,000-seat theatre, retail outlets, a water resort deck and additional casino facilities.