Galaxy Entertainment sees 11% rise in Q1 revenue

Galaxy Macau net revenue was up 13 per cent year-on-year.

Macau.- The hospitality and gaming operator Galaxy Entertainment Group has reported net revenue of HK$12.4bn (US$1.59bn) for the first quarter of 2026, up 11 per cent year-on-year. In a filing to the Hong Kong Stock Exchange on May 12, the company reported that adjusted EBITDA reached HK$3.6bn (US$462m) for the three months ended March 31, 2026, an increase of 8 per cent from a year earlier but down 17 per cent from the previous quarter.

Galaxy Macau remained the group’s main earnings contributor, generating net revenue of HK$10.3bn (US$1.32bn), up 13 per cent year-on-year. Adjusted EBITDA at the resort increased 11 per cent to HK$3.3bn (US$423m).

Mass gaming revenue at Galaxy Macau rose 18 per cent year-on-year to HK$8.3bn (US$1.06bn), while VIP gaming revenue increased 20 per cent to HK$2.3bn (US$295m). Non-gaming revenue climbed 11 per cent to HK$1.5bn (US$192m), including HK$400m (US$51m) in rental income.

At StarWorld Macau, net revenue rose 8 per cent year-on-year to HK$1.3bn (US$167m), while adjusted EBITDA increased 9 per cent to HK$383m (US$49m). Hotel occupancy reached 100 per cent.

During the quarter, the group hosted more than 80 concerts, sporting events and entertainment shows at its Macau properties, including the ITTF World Cup Macao and performances by artists including Dylan Wang, Jimmy O. Yang and DAY6. The company said it expects continued strong tourism demand following the May Golden Week holiday but warned that the upcoming FIFA World Cup could temporarily affect customer visitation patterns and gaming revenue in the second quarter.

GEG added that work continues on the fit-out of its Phase 4 development in Cotai, which will include a 5,000-seat theatre, expanded dining and retail space, additional gaming areas and new family-focused attractions.

The company said its balance sheet remained strong, with cash and liquid investments of HK$39.2bn (US$5.03bn) as at March 31, 2026. Net cash stood at HK$36.5bn (US$4.68bn) after debt of HK$2.7bn (US$346m). GEG also confirmed that a final dividend of HK$0.80 per share will be paid in June 2026

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Galaxy Macau net revenue was up 13 per cent year-on-year. Macau.- The hospitality and gaming operator Galaxy Entertainment Group has reported net revenue of HK$12.4bn (US$1.59bn) for the first quarter of 2026, up 11 per cent year-on-year. In a filing to the Hong Kong Stock Exchange on May 12, the company reported that adjusted EBITDA…