Macau’s Galaxy Entertainment Group has announced its Q2 and H1 results. The group’s net revenue for H1 amounted to HK$21.5bn (US$2.76bn), a 37% year-on-year increase. Net profit attributable to shareholders was up 52% year-on-year at HK$4.4bn, with H1 group adjusted EBITDA of HK$6.0bn, also a 37% year-on-year increase. Q2 found its group net revenue at HK$10.9bn, a 26% increase year-on-year and a 12% increase quarter-on-quarter. Adjusted EBITDA was HK$3.2bn, up 28% year-on-year and up 12% quarter-on-quarter, respectively.
Among the businesses seeing an increase and growth were Galaxy Macau (HK$17bn), StarWorld Macau (HK$2.7bn), and Broadway Macau (Adjusted EBITDA at HK$8m).
Aside from its revenue reports, Galaxy also announced plans to open Capella at Galaxy Macau in mid-2025, the gearing up of Cotai Phase 3, which included the GICC, Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau, and the development of Cotai Phase 4, which focused on non-gaming entertainment and family facilities.
Aside from Galaxy, Melco also saw a 22% revenue growth in its Macau business. MGM China also saw a 52% increase in Q2 Net revenue, which coincided with Macau’s announcement of its July gross gaming revenue also seeing an 11.6% year-on-year rise.
