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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 Cent...

February 25, 2021 Asian casino operator Galaxy Entertainment Group Limited has reportedly announced that it eventually intends to bring eight new hotels offering a total of at least 3,000 rooms and villas to its giant Galaxy Macau development. According to a report from Inside Asian Gaming, the Hong Kong-listed firm’s Vice-Chairman, Francis Lui, detailed that the coming facilities are to be primarily marketed towards high-end mass-market visitors and be complemented by the simultaneous premie...

Preparing to Launch Suncity Group confirmed the new additions to GGRAsia, stating the brand plans to control operating costs by adjusting the workforce to handle the upcoming openings of the new clubs. The Londoner Macao is a Sands China Ltd property that just recently was rebranded and renovated. On February 8, this property completed its first-phase launch, right before the Chinese New Year began. SJM Holdings Ltd, operations should begin during the first half of this year. In an email to GG...

Full Year Net Revenue of $7.8 billion, down 79% year-on-year Full Year Adjusted EBITDA of $(0.9) billion versus $12.6 billion in 2019 Q4 Net Revenue of $3.3 billion, down 64% year-on-year and up 430% quarter-on-quarter Q4 Adjusted EBITDA of $0.7 billion, down 77% year-on-year and up 193% quarter-on-quarter Played unlucky in Q4 which decreased Adjusted EBITDA by approximately $41 million, normalized Q4 Adjusted EBITDA of $0.8 billion, down 74% year-on-year and up 199% quarter-on-quarter Hotel oc...

Macau casino operator Galaxy Entertainment Group Ltd reported adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HKD1.01 billion (US$129.0 million) for the fourth quarter of 2020. It represented a 207.1-percent improvement compared to an adjusted EBITDA loss of HKD0.94 billion reported in the preceding quarter, said the company in a Thursday filing to the Hong Kong Stock Exchange announcing its full-2020 results. In year-on-year terms, EBITDA for the fourth ...

Macau casino operator Galaxy Entertainment Group Ltd plans to stengthen its focus on the mass and premium mass segments of the gaming market, as the city’s VIP sector is likely to be challenged by a series of legal changes introduced by the mainland China authorities. That is according to company deputy chairman Francis Lui Yiu Tung (pictured). Mr Lui made the comments in a Thursday press briefing following the company reporting its fourth-quarter and full-year 2020 results. “The [Chinese] ...

Macau’s Secretary for Transport and Public Works, Raimundo do Rosário, says he is “confident” that construction of a planned extension to the city’s Light Rapid Transit (LRT) rail system, that will link it to neighbouring mainland China territory at Hengqin island, will be completed within four years. He made the comment to Macau media. The LRT extension will connect the Lotus Bridge checkpoint at Cotai, to a Hengqin transport hub known as Hengqin Port (pictured, foreground). Cons...

Officials in Macau are targeting 2025 to complete a railway transportation system linking the islands of Cotai and Hengqin. Travelers take a selfie outside the Hengqin border checkpoint. The station will one day be serviced by a rail line connecting Macau’s Cotai Strip to the Hengqin island. (Image: Xinhua) The Macau Light Rapid Transit (LRT) rail system currently serves much of the Cotai area. The transportation network runs from the Taipa Ferry Terminal at Macau International Airport, sout...

Macau casino operator Galaxy Entertainment Group Ltd (also known as GEG) has signed a MOP13.01-billion (US$1.63-billion) deal with a local unit of China State Construction International Holdings Ltd for the building of Galaxy Macau Phase 4, an addition to the gaming group’s flagship Galaxy Macau resort (pictured) on Cotai. A Sunday filing to the Hong Kong Stock Exchange by Galaxy Entertainment said the work would take 1,053 calendar days – approximately three years – to complete. A sta...

Gold Key – Specialty Design The Highlights: Interiors at this newly renovated private casino capture romance and opulence using layers of lavish materials, unique decorative lighting, bespoke finishes, and artistic craftsmanship. Close attention to detail is critical here in order to create a luxurious look that serves the guests’ taste and lifestyle. And what’s more lavish than sparkly, high-end diamonds? “Inspired by the idea of a beautiful diamond necklace wrapping around the casino,...