{"id":31698,"date":"2022-07-13T03:23:24","date_gmt":"2022-07-13T06:23:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=31698"},"modified":"2026-04-23T06:55:42","modified_gmt":"2026-04-23T09:55:42","slug":"galaxy-could-see-non-gaming-revenue-recover-faster-than-ggr","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/galaxy-could-see-non-gaming-revenue-recover-faster-than-ggr","title":{"rendered":"Galaxy could see non-gaming revenue recover faster than GGR"},"content":{"rendered":"\n<p>Analysts at Sanford C. Bernstein predict that the company\u2019s non-gaming revenue could surpass pre-pandemic levels in 2023.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Sanford C. Bernstein analysts Vitaly Umansky, Louis Li, and Shirley Yang have forecast that Galaxy Entertainment could see its non-gaming revenue recover to pre-pandemic levels more quickly than its gaming revenue.\u00a0\u00a0<\/p>\n\n\n\n<p>They believe that Galaxy Entertainment&#8217;s gaming revenue could get back to pre-pandemic levels in 2024, and rise to 118 per cent of 2019 levels by 2025, with the &#8220;vast majority&#8221; coming from the mass market. However, analysts believe non-gaming revenue could surpass pre-pandemic levels in 2023 and rise 55 per cent higher than 2019 levels in 2025.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-shuts-all-casinos-for-a-week-amid-rise-in-covid-19-cases\" target=\"_blank\">Amid the current outbreak<\/a>\u00a0of Covid-19 cases, Galaxy Entertainment is the only gaming operator in Macau that has seen a strong rebound in its retail business. Analysts suggest that this could help hedge some of the risks of &#8220;a constrained core gaming business&#8221;.<\/p>\n\n\n\n<p>The brokerage added that the HK$50bn (US$6.37bn) expansion of&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/galaxy-macau-phase-iii-could-open-by-the-end-of-this-year\" rel=\"noreferrer noopener\">Galaxy Macau in Phases III<\/a>&nbsp;and IV could generate &#8220;moderate incremental overall gaming expenditures by customers\u2026 but strongly enhance the leisure and entertainment offerings\u201d.<\/p>\n\n\n\n<p>For the first quarter of the year,&nbsp;<strong>the casino operator reported that revenue was down 20 per cent year-on-year<\/strong>&nbsp;to HK$4.1bn (US$520m). Net gaming revenue plunged 24.8 per cent to HK$2.90bn when compared to last year and 10.9 per cent sequentially.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts at Sanford C. Bernstein predict that the company\u2019s non-gaming revenue could surpass pre-pandemic levels in 2023.<\/p>\n","protected":false},"author":176,"featured_media":25861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Analysts at Sanford C. Bernstein forecast Galaxy Entertainment's non-gaming revenue to surpass pre-pandemic levels in 2023, outpacing gaming revenue recovery which is projected for 2024, primarily driven by the mass market. The report highlights the operator's strong retail business rebound in Macau, mitigating risks from a constrained core gaming business, and notes the significant HK$50bn investment in Phases III and IV expansion to enhance leisure offerings.","focusai_entities":"Sanford C. Bernstein, Vitaly Umansky, Louis Li, Shirley Yang, Galaxy Entertainment","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.98), investor_analyst (0.99), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Non-Gaming Revenue Drivers","query":"What specific non-gaming verticals are projected to drive Galaxy Entertainment's revenue beyond pre-pandemic levels, and what is the anticipated ROI on the HK$50bn Phases III and IV expansion?"},{"label":"Mass Market Recovery Impact","query":"Given the forecast for mass market to drive the 'vast majority' of gaming revenue recovery, what specific strategies is Galaxy Entertainment implementing to capture this segment, and what are the associated yield expectations?"}],"footnotes":""},"categories":[157,16338],"tags":[23959],"class_list":["post-31698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-galaxy-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=31698"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31698\/revisions"}],"predecessor-version":[{"id":31733,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31698\/revisions\/31733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25861"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}