{"id":33487,"date":"2022-09-14T04:49:38","date_gmt":"2022-09-14T07:49:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=33487"},"modified":"2026-04-23T04:54:55","modified_gmt":"2026-04-23T07:54:55","slug":"galaxy-entertainment-posts-net-revenue-of-hk6-5bn-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/galaxy-entertainment-posts-net-revenue-of-hk6-5bn-for-h1","title":{"rendered":"Galaxy Entertainment posts net revenue of HK$6.5bn for H1"},"content":{"rendered":"\n

The company says its balance sheet remains strong amid a decline in revenue in the first half.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Galaxy Entertainment Group\u00a0<\/strong>has shared its financial results for the first half of the year. Revenue was down 39 per cent year-on-year to HK$6.5bn.<\/p>\n\n\n\n

The company reported adjusted EBITDA of HK$191m, down 90 per cent year-on-year, and a net loss attributable to shareholders of HK$850m, versus a profit of HK$947m in the first half of 2021.<\/p>\n\n\n\n

Adjusted EBITDA for gaming was up by approximately HK$27m. As of June 30, cash and liquid investments were HK$29.0bn and net cash (including liquid investments) was HK$20.3bn.\u00a0Given the ongoing impact of Covid-19, the board decided not to declare a dividend.\u00a0<\/p>\n\n\n\n

Galaxy Macau\u2019s net revenue<\/strong>\u00a0was down 38 per cent year-on-year to HK$4.5bn. Adjusted EBITDA was HK$536m, down 68 per cent year-on-year.<\/p>\n\n\n\n

StarWorld Macau\u2019s net revenue<\/strong>\u00a0was HK$644m, down 67 per cent year-on-year. Adjusted EBITDA was HK$216m.\u00a0Broadway Macau\u2019s net revenue<\/strong>\u00a0was up 7 per cent year-on-year to HK$31m. Adjusted EBITDA was HK$36m.<\/p>\n\n\n\n

Gross gambling revenue in the first half of the year was HK$4.8bn, down 51 per cent when compared to last year. Mass GGR was HK$3.8bn, down 35 per cent year-on-year and rolling chip GGR was down 79 per cent to HK$719m. Electronic gaming volume GGR was down 29 per cent year-on-year to HK$238m.<\/p>\n\n\n\n

Chairman Lui Che Woo<\/strong> said: “A number of cities across China experienced travel restrictions for a significant part of the first half of 2022. These restrictions on inter-provincial travel impacted visitation to Macau and in turn, adversely impacted both revenue and profitability.\u00a0<\/p>\n\n\n\n

“In addition, Macau experienced a Covid-19 outbreak and the Macau Government requested suspension of all industries and commercial activities<\/a> from 11 to 22 July 2022 which further impacted visitation, revenue and profitability.”<\/p>\n\n\n\n

He said Galaxy was “well positioned to compete for one of Macau\u2019s gaming concessions, given our track record of introducing innovative non-gaming elements into our resorts, our strong operational history, significant investment into Macau\u2019s economy and our substantial CSR efforts including supporting SMEs.”<\/p>\n\n\n\n

Che Woo added: “Going forward in the medium to longer term, we remain confident in the future of Macau. However, we do acknowledge that further potential outbreaks of Covid-19 may impact our future financial performance.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The company says its balance sheet remains strong amid a decline in revenue in the first half.<\/p>\n","protected":false},"author":176,"featured_media":26454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Galaxy Entertainment Group reported a significant decline in H1 revenue and a net loss, primarily attributed to COVID-19 related travel restrictions and a local outbreak in Macau. Despite the operational headwinds, the company maintains a robust balance sheet and expresses confidence in its strategic positioning for the upcoming Macau gaming concession tender, emphasizing its non-gaming investments and operational track record.","focusai_entities":"Galaxy Entertainment Group, Lui Che Woo","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau Concession Strategy?","query":"What is the projected timeline and key criteria for the Macau gaming concession renewal process, and how might GEG's non-gaming diversification strategy influence its bid?"},{"label":"VIP Segment Mitigation?","query":"Given the significant decline in rolling chip GGR, what strategic adjustments is GEG implementing to mitigate VIP segment volatility and enhance mass market recovery?"}],"footnotes":""},"categories":[157,16338],"tags":[23959],"class_list":["post-33487","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\/33487","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=33487"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33487\/revisions"}],"predecessor-version":[{"id":33500,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33487\/revisions\/33500"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26454"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}