Galaxy Entertainment Reports 10% Profit Growth in Macau
Casino operator outperforms regional market trends despite a broader industry decline in Macau.
1Quarterly Financial Performance
Galaxy Entertainment Group reported a 10% increase in profit before interest, taxes, depreciation, and amortization for the third quarter of 2026. The company reached 3.7 billion Hong Kong dollars in EBITDA between July and September. Total revenue for the period rose by 4% to 12.7 billion Hong Kong dollars compared to last year.
2Outperforming Regional Trends
The company's growth occurred despite a challenging environment for the broader Macau gaming sector. Total industry revenue in the semi-autonomous region fell by 4% to 60.2 billion patacas during the same three-month period. Galaxy’s ability to increase earnings while the market contracted highlights its specific operational resilience within the competitive Macau landscape.
3Strategic Financial Position
Chairman Francis Lui Yiu Tung confirmed the company maintains a strong balance sheet with 34.4 billion Hong Kong dollars in cash reserves. Debt levels remain manageable at 2 billion Hong Kong dollars. This financial stability allows the group to continue funding ongoing development projects while returning capital to shareholders despite persistent global economic uncertainty.
4Diversification Beyond Gaming
In alignment with government mandates for license renewals, Galaxy has shifted focus toward non-gaming attractions. The company hosted over 80 concerts, shows, and sporting events during the third quarter. These initiatives are designed to attract international visitors and diversify revenue streams beyond traditional casino operations, which were previously the primary income source.
5Major Infrastructure Projects
The company is actively expanding its physical footprint in Macau. The Capella hotel opened in February, and renovations for 40% of the StarWorld hotel rooms are expected to conclude by early 2027. Furthermore, the fourth phase of the Galaxy Macau resort is scheduled to launch next year, adding five luxury hotels and theaters.
6International Sporting Events
Galaxy successfully co-organized the Women's Volleyball Nations League finals in late July, marking the first time the event was held in Macau. Turkey secured the championship title by defeating Brazil in the final match. Such high-profile international events serve as key drivers for tourism and support the company's broader non-gaming strategy.
7Global Expansion Ambitions
While Macau remains the core focus, leadership is exploring international investment opportunities. Earlier this year, the company identified Japan and Thailand as potential markets for future expansion. However, legislative efforts to legalize casino gaming in Thailand faced significant delays in parliament due to internal political opposition within the ruling coalition government earlier this year.
8Long-term Market Outlook
Despite geopolitical tensions and slower global economic growth, management maintains confidence in Macau's long-term prospects. The company continues to prioritize its ten-year license obligations, which began in January 2023. By balancing infrastructure investment with event-driven tourism, Galaxy aims to sustain its market position amidst a complex and evolving external regulatory environment.
Original article: RTP Notícias — Galaxy Entertainment Reports 10% Profit Growth in Macau