Galaxy Entertainment Reports 21% Revenue Growth in Q3

Galaxy Entertainment Group (GEG) has reported a strong performance for the third quarter, with gross gaming revenue (GGR) climbing to HK$12.2 billion (US$1.57 billion) , a 21% year-on-year increase and a 2% gain over Q2.
Net revenue also grew 14% year-on-year to HK$12.16 billion (US$1.56 billion), driven by sustained demand from the mass gaming segment and a sharp rebound in VIP play.

Mass Market Momentum and VIP Rebound

GEG’s mass gaming division remained the cornerstone of its success, generating HK$9.5 billion (US$1.22 billion) , up 13% year-on-year and 7% sequentially. The VIP segment saw even stronger growth, soaring 86% compared with the same period last year to reach HK$2 billion (US$257 million), although it slipped 15% from Q2 as operations normalized following Typhoon Ragasa.

Electronic gaming contributed HK$738 million (US$94.9 million), up 11% year-on-year but 6% lower quarter-on-quarter. Overall, adjusted EBITDA rose 14% to HK$3.3 billion (US$424 million), underscoring consistent recovery across business lines.

Galaxy Macau Remains the Core Driver

The company’s flagship property, Galaxy Macau, continued to lead performance with net revenue of HK$10.09 billion (US$1.3 billion)  , a 20% increase compared with last year.
Gaming revenue accounted for HK$8.54 billion (US$1.09 billion), representing a 23% annual rise.

Rolling chip volume reached HK$64.03 billion (US$8.24 billion), up nearly 50% year-on-year, while mass table drop climbed 13.6%.

Chairman Francis Lui noted that despite temporary disruptions from Typhoon Ragasa, operations rebounded swiftly:

“The storm caused a short-term closure, but activity resumed quickly once conditions stabilized. Our teams responded efficiently, ensuring minimal long-term impact.”

Mixed Trends Across StarWorld and Broadway Macau

At StarWorld Macau, net revenue reached HK$1.26 billion (US$162 million) slightly below last year’s level but 8% higher than Q2, aided by increased electronic gaming volumes after a property refresh.

Meanwhile, Broadway Macau generated HK$62 million (US$8 million) in net revenue, flat year-on-year but up 22% quarter-on-quarter. Its adjusted EBITDA dipped to HK$1 million (US$129,000), reflecting higher costs linked to storm recovery efforts.

Outlook: Maintaining Growth Through 2026

GEG said it will continue to focus on operational upgrades, property enhancements and financial discipline to sustain recovery momentum.
With visitor arrivals rising and mainland China travel improving, management remains optimistic that GEG’s diversified Macau portfolio can balance mass-market growth and VIP resurgence through the next phase of Macau’s expansion.