Galaxy Entertainment Group net revenue climbs in H1
First-half net revenue was HK$23.2bn (US$2.96bn).
Macau.- Galaxy Entertainment Group has released its financial results for the first half of the year. Net revenue was HK$23.2bn (US$2.96bn), up 8.3 per cent in year-on-year terms. Earnings before interest, taxes, depreciation and amortisation (EBITDA) for H1 was HK$6.9bn (US$881m), up 14 per cent compared to the same period of 2024.
First-half net gaming revenue was up 10.7 per cent year-on-year, to nearly HK$18.58bn, while non-gaming revenue for the first six months was almost HK$3.17bn, a gain of 2.5 per cent from the prior-year period.
In H1, Galaxy Macau posted net revenue of HK$19.1bn (US$2.44bn), up 13 per cent year-on-year. Adjusted EBITDA was HK$6.3bn (US$805m). Occupancy across its seven hotels was 98 per cent.
StarWorld Macau posted net revenue of HK$2.4.2bn, down 10 per cent year-on-year. Adjusted EBITDA was HK$653m, down 21 per cent year-on-year. Hotel occupancy was 100 per cent.
Galaxy Macau’s second-quarter performance saw net revenue of HK$12bn (US$1.53bn), up 10 per cent year-on-year and 8 per cent quarter-on-quarter. Adjusted EBITDA for the quarter reached HK$3.6bn (US$460m), marking a 12 per cent year-on-year increase and 8 per cent quarter-on-quarter growth.
Gross gaming revenue for Q2 reached HK$10.7bn (US$1.36bn), up 20.5 per cent year-on-year and 11.9 per cent sequentially, of which mass tables contributed HK$7.67bn (US$977m).
GEG chairman Francis Lui said: “Today I am pleased to report solid performance for the Macau market and GEG in Q2 and the first half of 2025. Despite global tariff disruptions, continued economic slowdown and regional competition, Macau remained resilient in Q2 2025.
“GEG delivered solid results and growth in market share under competitive market conditions. We managed to drive every segment of the business, particularly the premium mass.”
Lui added: “The ultra-luxury Capella at Galaxy Macau, our latest addition to GEG’s hotel portfolio, offered exclusive previews in May and contributed to our strong performance over the Golden Week. In June we hosted K-pop star G-Dragon and Hong Kong acclaimed singer Jacky Cheung at our Galaxy Arena, which led to a record high number of a single-day visitation of over 123,000 to Galaxy Macau”.
GEG chairman said they continue to compete through their “exceptional products and service and ongoing property enhancements,” including their retail, food & beverage, multiple hotels and the Grand Resort Deck.
“More importantly, we continue to leverage the competitive edge of our MICE facilities and Galaxy Arena. Over the past two years, it was proven that entertainment shows and events played a key role in driving new and repeat customers to Macau. During the first half of 2025, we have held a total of approximately 190 entertainment, sports and MICE events, and experienced a 65 per cent year-on-year increase in the foot traffic at Galaxy Macau,” he said.
Lui said that a hotel recently added to Galaxy Macau – the all-suite Capella at Galaxy Macau had “offered exclusive previews in May to distinguished VIPs, offering stays by invitation only”.
Regarding Phase 4 of Galaxy Macau, Lui said work was “progressing well.” He added the superstructure and the external facade had been completed and the group was progressing toward fitting out the building.
