{"id":6592,"date":"2024-08-21T10:23:44","date_gmt":"2024-08-21T09:23:44","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=6592"},"modified":"2024-08-21T10:23:48","modified_gmt":"2024-08-21T09:23:48","slug":"galaxy-group-in-macau-reports-revenue-increase-for-h1-2024","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/08\/21\/galaxy-group-in-macau-reports-revenue-increase-for-h1-2024\/","title":{"rendered":"Galaxy Group in Macau Reports Revenue Increase for H1 2024"},"content":{"rendered":"\n

Macau\u2019s Galaxy Entertainment Group<\/strong> has published its results for Q2 and the H1 of 2024.<\/p>\n\n\n\n

For the H1 of the year, the group\u2019s net revenue reached HK$ 21.5 billion (USD 2.76 billion), a 37% increase compared to the same period last year. Net profit attributable to shareholders rose by 52%, reaching HK$4.4 billion, while adjusted EBITDA grew by 37% to HK$ 6.0 billion compared to the previous year.<\/p>\n\n\n\n

In Q2, net revenue amounted to HK$10.9 billion, a 26% increase from the same period last year and a 12% increase from the previous quarter. Adjusted EBITDA rose by 28% year-over-year and 12% quarter-over-quarter, reaching HK$ 3.2 billion.<\/p>\n\n\n\n

Among the companies showing significant growth were Galaxy Macau with revenue of HK$ 17 billion, StarWorld Macau<\/strong> with HK$ 2.7 billion, and Broadway Macau,<\/strong> which had an adjusted EBITDA of HK$ 8 million.<\/p>\n\n\n\n

In addition to financial reports, Galaxy announced plans to open Capella<\/strong> in Galaxy Macau<\/strong> by mid-2025, as well as the completion of Cotai Phase 3<\/strong>, which includes GICC<\/strong>, Galaxy Arena<\/strong>, Raffles <\/strong>at Galaxy Macau<\/strong>, and Andaz Macau<\/strong>. The company also revealed plans for Cotai Phase 4,<\/strong> focused on non-gaming entertainment and family-oriented venues.<\/p>\n\n\n\n

Besides Galaxy, Melco<\/strong> also reported a 22% increase in its Macau business revenue. MGM China reported a 52% rise in net revenue for Q2, coinciding with Macau’s announcement of a 11.6% year-over-year increase in gross gaming revenue for July.<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Macau\u2019s Galaxy Entertainment Group has published its results for Q2 and the H1 of 2024. For the H1 of the year, the group\u2019s net revenue reached HK$ 21.5 billion (USD 2.76 billion), a 37% increase compared to the same period last year. Net profit attributable to shareholders rose by 52%, reaching HK$4.4 billion, while adjusted […]<\/p>\n","protected":false},"author":10,"featured_media":6593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[2994,2658,2818,2757,9470,8457,3675],"class_list":["post-6592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-financial-results","tag-galaxy-entertainment-group","tag-gaming-industry","tag-macau","tag-melco","tag-mgm-china"],"yoast_head":"\nGalaxy Group in Macau Reports Revenue Increase for H1 2024 - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/08\/21\/galaxy-group-in-macau-reports-revenue-increase-for-h1-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Galaxy Group in Macau Reports Revenue Increase for H1 2024 - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Macau\u2019s Galaxy Entertainment Group has published its results for Q2 and the H1 of 2024. For the H1 of the year, the group\u2019s net revenue reached HK$ 21.5 billion (USD 2.76 billion), a 37% increase compared to the same period last year. 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