Galaxy Entertainment Group Reports First-Half Profit of HKD5.28 Billion With Dividend Increase

Galaxy Entertainment Group Ltd posted a first-half profit attributable to shareholders of HKD5.28 billion (US$672.9 million). The result reflects a 0.8 percent year-on-year increase. The Macau casino operator declared an interim dividend of HKD0.9 per share, up from HKD0.7, payable on September 15 following a Hong Kong Stock Exchange filing.

Net revenue for the six months to June 30 totaled HKD24.23 billion, a 4.2 percent rise. Group-wide adjusted EBITDA reached nearly HKD6.96 billion, up 1.3 percent. First-half net gaming revenues grew 5.1 percent to just over HKD19.52 billion. Non-gaming revenues increased 7.4 percent to nearly HKD3.40 billion. As reported by GGRAsia, second-quarter net revenue fell 2.0 percent to circa HKD11.8 billion while adjusted EBITDA dropped 5.0 percent to HKD3.4 billion.

Quarterly Results Show Impact From FIFA World Cup

Galaxy Entertainment chairman Francis Lui Yiu Tung called the period a solid performance. Macau stayed resilient with robust visitation, healthy hotel occupancy and sustained demand for gaming and non-gaming offerings despite external macroeconomic headwinds and geopolitical tensions in the Middle East. The FIFA World Cup 2026, held from June 11 to July 19, tempered industry results. Major sporting events have historically influenced customer behaviour and gaming revenue in Macau due to diverted attention and increased competition from sports betting activity. The extended schedule temporarily affected customer traffic and revenue. Targeted marketing and promotions offset part of the impact. Gaming revenue recovered toward the end of the tournament and momentum continued into August. Up to 40 percent of StarWorld Macau room inventory was under renovation in the quarter. This reduced adjusted EBITDA by HKD14 million.

Balance Sheet and Property Plans Signal Continued Investment

Lui stated the balance sheet remains healthy and liquid with cash and liquid investments of HKD37.7 billion as of June 30, 2026. Strong demand at the all-suite Capella at Galaxy Macau prompted expansion of the premium gaming area at Horizon Plus, lifting private salons from six to 10. Phase 4 development at Galaxy Macau advances and will include five ultra-luxury hotels with approximately 1,350 rooms and suites, a casino, a 5,000-seat theatre, dining, retail and a water resort deck. StarWorld Macau refurbishment includes completed gaming floor and food and beverage updates on levels 1 and 3 plus new dining offerings. Hotel room and suite renovation has started, with some rooms combined into larger premium suites. Full completion is scheduled for the first quarter of 2027.

Reporting: GGRAsia

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