Galaxy Entertainment Group (GEG) has announced strong financial results for the second quarter and first half of 2025, demonstrating significant year-on-year growth.
The positive performance reinforces the company’s leading position in the Macau market and highlights the success of its flagship Galaxy Macau resort.
For the second quarter of 2025, Galaxy Entertainment Group reported a net revenue of HK$12.0 billion. This figure represents a 10% increase compared to the same period in the previous year. The group’s adjusted EBITDA, a key measure of profitability, reached HK$3.6 billion, marking a 12% rise from the prior year.
The primary engine for this growth was the flagship Galaxy Macau property. The resort generated net revenue of HK$10.0 billion during the quarter, a remarkable 16% year-on-year increase. Its nine hotels achieved an impressive average occupancy rate of 98%, signaling strong visitor demand.
In contrast, the StarWorld Macau property faced a more challenging quarter, with its net revenue declining by 11% year-on-year.
To address this, GEG is implementing major upgrades to the property’s main gaming floor, lobby, and dining options. The company also announced the strategic closure of its Waldo Casino by the end of the year, with all affected employees being offered positions at other properties within the group.
A key pillar of GEG’s strategy remains its focus on non-gaming diversification. During the first half of the year, the Group hosted approximately 190 large-scale MICE events and concerts.
These events, featuring world-class performers, helped drive a 65% year-on-year increase in foot traffic at Galaxy Macau. The company continues to invest in its future, with its new ultra-luxury hotel, Capella at Galaxy Macau, expected to open fully in the coming months. Furthermore, the massive Phase 4 development in Cotai remains on track for its 2027 completion.
The company’s financial position is exceptionally strong, with a balance sheet showing HK$30.7 billion in cash and minimal debt. This stability supported the announcement of a new interim dividend for shareholders, underscoring the company’s confidence in the long-term prospects of the Macau market.
