Galaxy Entertainment Group Selected Unaudited Q3 2022 Financial Data streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Continue Working Closely With Macau Community To Control COVID-19 Well Prepared to Submit Macau Gaming Concession Tender by 14 September Q2 2022 Group Adjusted EBITDA of $(0.4) Billion, Versus
Continue Working Closely With Macau Community To Control COVID-19 Full Year Group Adjusted EBITDA of $3.5 Billion Improves versus $(1.0) Billion in 2020 Full Year Group NPAS of $1.3 Billion Improves
Macau’s Galaxy Group posts Q4 earnings recovery and presses ahead with ICC plans
Macau-based gaming and hospitality holding company, Galaxy Entertainment Group (GEG) has reported its financial results for the three month and 12-month periods ended 31 December 2020, with net revenue down 75% from the previous year. The Group, however, pointed to a Q4 recovery and said it was continuing with its long term development plans, including its Galaxy International Convention Center, part of the Cotai Phase 3 project.
In 2020, visitor arrivals to Macau were 5.9 million, down 85% year-on-year.
The GEG chairman, Dr Lui Che Woo’s statement in the annual accounts, released 25 February, noted that in Q4 2020, Mainland China, Hong Kong and Macau had continued to experience travel restrictions. “Given the subdued revenue, the Group’s Adjusted EBITDA was HK$1bn (US$130m) for the fourth quarter,” the chairman said. “This represents a 207% improvement compared to the