posted net revenue of HK$9.7bn (US$1.24bn)<\/a>\u00a0for the third quarter.\u00a0The figure was up by 11.4 per cent sequentially and 374.4 per cent from the prior-year period.<\/p>\n\n\n\nThe report also disclosed positive news about the casino operator, highlighting the management team’s positive outlook for 2024 based on several indicators, including a noticeable recovery in mass GGR, strong hotel room bookings for the upcoming Chinese New Year holidays, and the renovations of gaming floors.<\/p>\n\n\n\n
Galaxy Macau’s recent addition of a 40-table premium mass area at the Southside in mid-December, along with the scheduled completion of gaming floor renovations by Chinese New Year, are also expected to contribute to GGR growth.<\/p>\n\n\n\n
Furthermore, the Starworld hotel is currently undergoing a revamp, which involves closing down non-performing tables and relocating them to Galaxy Macau. <\/p>\n\n\n\n
Additionally, stadium games or electronic table games are being introduced to the gaming floor. It was also revealed that this year, GEG intends to change the fa\u00e7ade of the building and add non-gaming facilities.<\/p>\n\n\n\n
Last November, the company\u2019s chief operating officer Kevin Kelley <\/strong>said the operator will host 50 major concerts and 250 MICE (meetings, incentives, conferences, and exhibitions) events in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"Analysts at Goldman Sachs expect the introduction of a “40-table” premium mass gambling area at the Southside of Galaxy Macau to contribute to the casino operator’s growth in the coming months.<\/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":"Goldman Sachs analysts project a positive 2024 growth trajectory for Galaxy Entertainment Group, driven by strategic initiatives including a new 40-table premium mass area at Galaxy Macau, extensive gaming floor renovations, and expanded non-gaming MICE and entertainment offerings. Despite potential Q4 2023 headwinds from 'bad luck' and increased operational costs, the outlook is bolstered by strong property visitation and a recovery in mass GGR.","focusai_entities":"Galaxy Entertainment Group, Goldman Sachs, Kevin Kelley, Galaxy Macau, Andaz hotel, Starworld hotel","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.92), product_ux (0.7), marketing_crm (0.7), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Market Share Impact","query":"What is the projected impact of GEG's premium mass expansion and non-gaming diversification on its GGR market share and EBITDA margins in 2024, considering the Q4 2023 market share decline?"},{"label":"Operational Cost Analysis","query":"How will the increased operational costs from the Andaz hotel opening and expanded MICE events influence GEG's net profit margins and capital allocation strategy in the upcoming fiscal periods?"}],"footnotes":""},"categories":[157,16338],"tags":[23959],"class_list":["post-777012398","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\/777012398","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=777012398"}],"version-history":[{"count":1,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012398\/revisions"}],"predecessor-version":[{"id":777012399,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012398\/revisions\/777012399"}],"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=777012398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}