Galaxy Entertainment Group (GEG) generated HK$15.7 billion in net revenue in the first half of 2023, an increase of 141 percent compared to the same period last year.
In a media release, the gaming concessionaire added that adjusted group-wide property earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at HK$4.4 billion for the year’s first half.
Net profit attributable to shareholders during the period stood at HK$2.9 billion, versus an $850 million loss a year earlier.
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In quarterly terms, group net revenue in the second quarter of 2023 stood at HK$8.7 billion, up 23 percent from the first, while the second quarter’s group adjusted EBITDA stood at $2.5 billion, up from the first quarter’s $1.9 billion.
Chairman Lui Che Woo said “Our balance sheet continues to be exceptionally liquid and healthy” and added that Galaxy Entertainment Group “continued to be very active into [the second quarter] in expanding our resort offering and enhancing our service standards.”
He also noted that the group believes “non-gaming is the future of Macao” and was committed to creating “a longer staying and more diverse visitor base which aligns with Macau Government’s vision of building Macao into a world centre of tourism and leisure.”
