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Galaxy Entertainment Group Reports Surge in Revenue Following Gaming Floor Overhaul

May 15, 2024 Macau Casino & HotelIndustry Updates

Galaxy Entertainment Group’s performance has increased dramatically under the direction of chairman Dr. Lui Che Woo.

This can be credited to the thoughtful renovation of Galaxy Macau, the company’s flagship resort. According to the company’s first-quarter financial report, group-wide Gross Gaming Revenue (GGR) increased by an incredible 59% year over year to reach HK$9.63 billion (US$1.23 billion).

While acknowledging the initial disruptions, Dr. Lui emphasized the significance of “substantial adjustments” made to Galaxy Macau’s gaming floor and projected a following “significant improvement in the flow of customer traffic.”

Performance surged as a result of this change, with mass GGR rising by 57% annually.

The reconfiguration was particularly beneficial to Galaxy Macau, as evidenced by a 3% sequential increase in GGR to HK$8.14 billion (US$1.04 billion).

Remarkably, GGR at StarWorld on the Peninsula increased by a robust 9% to HK$1.43 billion (US$183 million).

Additionally, Galaxy Entertainment Group’s adjusted EBITDA rose to HK$2.84 billion (US$364 million) from US$359 million in the previous year, a 49% year-over-year growth that shows the success of its strategic goals.

Regarding upcoming enhancements, including as the addition of smart tables to increase operational effectiveness and modifications to StarWorld Macau, Dr. Lui expressed optimism.

The company’s comeback shows how resilient and adaptive it can be when faced with difficulties, opening doors for long-term success in Macau’s cutthroat gaming market.

See Related Articles: Galaxy Entertainment Group partners with Capella Hotels and Resorts to debut a luxurious property in Macau

Original Story by: Asian Gaming Brief

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