Galaxy Entertainment Group has reported its best quarter since before the pandemic with GGR of $10.3bn for the three months to 30 June 2024, up 35 per cent year-on-year and up seven per cent quarter-on-quarter.
Mass GGR was $8.3bn, up 32 per cent year-on-year and up seven per cent quarter-on-quarter. Rolling
chip GGR was $1.4bn, up 49 per cent year-on-year and up seven per cent quarter-on-quarter. Electronic GGR was $657m, up 48 per cent year-on-year and up 10per cent quarter-on-quarter.
Galaxy Macau’s Adjusted EBITDA was $2.8bn, up 28 per cent year-on-year and up 6six per cent quarter-on-quarter. StarWorld Macau’s Adjusted EBITDA was $390m, up eight per cent year-on-year and down 10 per cent quarter-on-quarter. Broadway Macau’s Adjusted EBITDA was $8m versus $10m in
Q2 2023 and $4m in Q1 2024.
Dr. Lui Che Woo, Chairman of GEG said: “For the first half of 2024, Group Net Revenue up 37 per cent year-on-year to $21.5bn and Adjusted EBITDA up 37 per cent year-on-year to $6bn. In Q2 2024, Group
Adjusted EBITDA of $3.2bn, up 28 per cent year-on-year and up 12 per cent quarter-on-quarter. We continued to drive every segment of our business and further improve our resorts. We are very pleased to report that for both Q2 and the first half 2024, our resort hotels reported virtually 100 per cent occupancy.
“During the quarter, the Central Government continued to show support for Macau by expanding the Individual Visit Scheme (IVS) to 59 eligible cities with a total combined population of approximately 500 million people. Additionally, the Government relaxed visa requirements to allow multiple entries into Macau for group tour visitors from Hengqin and for people from various sectors. We are well advanced with the implementation of smart tables. Recently we completed the backend systems integration and customer database transfer. We also successfully completed live back-of-house pilot testing of smart tables. And in early July, we commenced the rollout of smart tables across Galaxy Macau’s main gaming floor. We anticipate to complete the full rollout by year end. On the development front, we continue to move forward with the fitting out of the Capella at Galaxy Macau and Phase 4, which has a strong focus on non-gaming, primarily targeting entertainment, family facilities and also includes gaming.”