The Macau recovery continued for Galaxy Entertainment Group, which generated revenue of $43.4 billion in 2024, marking a 22 percent increase year-on-year, with gaming revenue up 30 percent to $41.1 billion.
The company is now focusing on revamping its StarWorld casino, with major upgrades planned for the main gaming floor, the lobby, and its food and beverage options.
Mass GGR rose to $33.1 billion, up 25 percent year-on-year, while VIP GGR increased by 55 percent to $5.3 billion. Electronic GGR reached $2.7 billion, up 52 percent from the previous year. Galaxy Macau’s Adjusted EBITDA was $10.8 billion, up 18 percent year-on-year. StarWorld Macau’s Adjusted EBITDA was $1.6 billion, a 24 percent increase year-on-year. Broadway Macau’s Adjusted EBITDA was $24 million, compared to $36 million in 2023. In 2024, GEG faced unfavorable outcomes in its gaming operations, reducing its Adjusted EBITDA by approximately $157 million.
Francis Lui, Chairman of GEG, stated: “Throughout 2024, we continued to drive every segment of the business, particularly the premium mass, which remains the main profit driver. In a competitive market, we continue to allocate resources with discipline and focus on their most efficient use. During the year, we have seen entertainment and events play an important role in attracting new and repeat customers to Macau.
“On the development front, we continue to progress with the fitting out of Capella at Galaxy Macau and the construction of Phase 4, which has a strong focus on non-gaming, primarily targeting entertainment and family facilities, and also includes gaming. During the year, we deployed smart tables across all of our casinos. We expect this technology to enhance overall operating efficiency and customer management. In addition, we continue to make enhancements to our resorts, including adding new food and beverage and retail offerings at Galaxy Macau. In the recently announced Forbes Travel Guide 2025 List, Galaxy Macau maintained its unrivaled position as the integrated resort with the most Five-Star hotels under one roof of any luxury resort company worldwide for the third consecutive year.
“At StarWorld Macau, we are evaluating a range of major upgrades, including the main gaming floor, the lobby arrival experience, and increasing the food and beverage options. We have completed the upgrade of Level 3 and StarWorld Macau now hosts one of the largest scale Live Table Games (LTG) terminals in Macau.”
The article originally appeared on G3 Newswire.