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Lui Che Woo: Macau Gaming Industry Can regain Momentum
GALAXY ENT (00027.HK) 0.000 (0.000%) Short selling $130.05M; Ratio 34.724% 's Galaxy Macau Phase 2 and Broadway Macau are opened today.
Lui Che Woo, the chairman, said that there is no doubt that industry development will slow down at a certain stage, yet he believed that the gaming industry could regain its momentum.
Source: AAStocks Financial News
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Galaxy Ent 0027 / Lui Chee Woo
Re: Galaxy Entertainment's 0027
by winston » Thu May 28, 2015 8:38 am
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Re: Galaxy Entertainment's 0027
by winston » Tue Jun 16, 2015 3:17 pm
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GALAXY ENT: Performance of Galaxy Macau Phase 2 Project Worse Than Expected
GALAXY ENT (00027.HK)'s Galaxy Macau Phase 2 project was opened on 27 May.
Lui Che Woo, the chairman, said that the business performance was below estimates.
However, the chairman believed that there will be improvement in July and August as June is the season for examination.
He is optimistic about the project, saying that the hotel booking for the summer holiday is satisfactory.
Source: AAStocks Financial News
GALAXY ENT: Performance of Galaxy Macau Phase 2 Project Worse Than Expected
GALAXY ENT (00027.HK)'s Galaxy Macau Phase 2 project was opened on 27 May.
Lui Che Woo, the chairman, said that the business performance was below estimates.
However, the chairman believed that there will be improvement in July and August as June is the season for examination.
He is optimistic about the project, saying that the hotel booking for the summer holiday is satisfactory.
Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027
by winston » Wed Jun 17, 2015 7:41 am
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Galaxy looks forward to summer boost
Galaxy Entertainment Group (0027) chairman Lui Che-woo yesterday said the recently launched phase II of Galaxy Macau had not performed as well as expected, but he is hopeful it can recover gradually during summer.
Lui admitted the ongoing anti-graft campaign in the mainland and the recent smoking ban in Macau had adversely affected the gaming industry. Galaxy's business also edged down due to the traditional non-peak season in June.
Galaxy vice chairman Francis Lui Yiu-tung said Phase II, which opened last month, was aimed at the mass market. It only has two VIP tables and the company needs time to adjust to the business model, he said.
He added, though, that the new phase has the best facilities and services, compared with other projects of the group. The company has just started its non-gaming business and the market needs to be more patient about growth, he added.
All 4,000 hotel rooms in the new project were fully booked in the past few weekends, and Galaxy expects an increase in visitors during the peak season in July and August, Francis Lui said.
The remaining 30 percent of the mostly luxury retail shops at the hotel are also expected to open soon at Broadway Macau, he said. "While there are still many uncertainties in the gaming industry, we believe that the non-gaming business will increase steadily in the near future."
He added he is hopeful Macau authorities will consider carefully the smoking ban legislation in casinos and will not implement the policy too quickly.
Source: The Standard HK
Galaxy looks forward to summer boost
Galaxy Entertainment Group (0027) chairman Lui Che-woo yesterday said the recently launched phase II of Galaxy Macau had not performed as well as expected, but he is hopeful it can recover gradually during summer.
Lui admitted the ongoing anti-graft campaign in the mainland and the recent smoking ban in Macau had adversely affected the gaming industry. Galaxy's business also edged down due to the traditional non-peak season in June.
Galaxy vice chairman Francis Lui Yiu-tung said Phase II, which opened last month, was aimed at the mass market. It only has two VIP tables and the company needs time to adjust to the business model, he said.
He added, though, that the new phase has the best facilities and services, compared with other projects of the group. The company has just started its non-gaming business and the market needs to be more patient about growth, he added.
All 4,000 hotel rooms in the new project were fully booked in the past few weekends, and Galaxy expects an increase in visitors during the peak season in July and August, Francis Lui said.
The remaining 30 percent of the mostly luxury retail shops at the hotel are also expected to open soon at Broadway Macau, he said. "While there are still many uncertainties in the gaming industry, we believe that the non-gaming business will increase steadily in the near future."
He added he is hopeful Macau authorities will consider carefully the smoking ban legislation in casinos and will not implement the policy too quickly.
Source: The Standard HK
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Re: Galaxy Entertainment's 0027
by winston » Tue Aug 11, 2015 8:21 pm
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Hong Kong's Galaxy Entertainment Sets Eyes on Europe with Monte Carlo Investment
http://www.pokernews.com/news/2015/08/g ... -22476.htm
Hong Kong's Galaxy Entertainment Sets Eyes on Europe with Monte Carlo Investment
http://www.pokernews.com/news/2015/08/g ... -22476.htm
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Re: Galaxy Entertainment's 0027
by winston » Thu Aug 20, 2015 7:28 am
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Galaxy profit plunges to six-year low by Frances Sit
Galaxy Entertainment Group (0027) saw signs of market stabilization and remains cautiously optimistic about the gaming industry in the second half, after its interim net profit plunged 66 percent to a six-year low of HK$2.03 billion slightly beating estimates.
Earnings per share dropped from HK$1.41 a year ago to 47.7 HK cents in the period.
It declared a special dividend of 14 HK cents.
All Macau gaming shares fell, with Galaxy shedding 4.43 percent to HK$31.25, after broker Daiwa downgraded the stock due to immediate cost pressures from new projects.
Daiwa, calling Macau's gaming sector "a falling house of cards," also expected the city's overall gaming revenues to drop 34 percent this year from 2014, versus its earlier forecast of a 21 percent dip.
Galaxy chairman Lui Che-woo said June was the worst month for Macau's gaming sector, but July gaming revenues rose 6 to 7 percent from the previous month.
Macau's gaming industry would rebound soon, he said. However, Lui's son, vice chairman Francis Lui Yiu-tung, said the company would need another one to two months to see whether the industry has bottomed out.
Galaxy's half-year earnings before income, tax, depreciation and amortization hit HK$4.16 billion, 43 percent lower than a year back.
Overall revenue slumped 34 percent in the first half to HK$25.37 billion, mainly dragged lower by opening costs of phase two of Galaxy Macau and Broadway Macau, which operated for 35 days as of June 30.
The company saw total gaming revenue fall 37 percent to HK$118.1 billion in the first half the market average.
Total VIP revenues dropped 43 percent to HK$15.5 billion, while mass table revenue slipped 17 percent to HK$8.2 billion.
Source: The Standard HK
Galaxy profit plunges to six-year low by Frances Sit
Galaxy Entertainment Group (0027) saw signs of market stabilization and remains cautiously optimistic about the gaming industry in the second half, after its interim net profit plunged 66 percent to a six-year low of HK$2.03 billion slightly beating estimates.
Earnings per share dropped from HK$1.41 a year ago to 47.7 HK cents in the period.
It declared a special dividend of 14 HK cents.
All Macau gaming shares fell, with Galaxy shedding 4.43 percent to HK$31.25, after broker Daiwa downgraded the stock due to immediate cost pressures from new projects.
Daiwa, calling Macau's gaming sector "a falling house of cards," also expected the city's overall gaming revenues to drop 34 percent this year from 2014, versus its earlier forecast of a 21 percent dip.
Galaxy chairman Lui Che-woo said June was the worst month for Macau's gaming sector, but July gaming revenues rose 6 to 7 percent from the previous month.
Macau's gaming industry would rebound soon, he said. However, Lui's son, vice chairman Francis Lui Yiu-tung, said the company would need another one to two months to see whether the industry has bottomed out.
Galaxy's half-year earnings before income, tax, depreciation and amortization hit HK$4.16 billion, 43 percent lower than a year back.
Overall revenue slumped 34 percent in the first half to HK$25.37 billion, mainly dragged lower by opening costs of phase two of Galaxy Macau and Broadway Macau, which operated for 35 days as of June 30.
The company saw total gaming revenue fall 37 percent to HK$118.1 billion in the first half the market average.
Total VIP revenues dropped 43 percent to HK$15.5 billion, while mass table revenue slipped 17 percent to HK$8.2 billion.
Source: The Standard HK
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Re: Galaxy Entertainment's 0027
by winston » Wed Oct 14, 2015 11:20 am
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<Research Report>BofA Merrill Lynch Upgrades GALAXY ENT(00027.HK) to Buy with Target Cut to $33.8
Bank of America Merrill Lynch stated that GALAXY ENT(00027.HK)'s balance sheet was strong and FCF yield equaled 3%-5%.
Based on its current valuation, the growth expectations were reasonable.
The stock should offer attractive risk-reward, as it appeared to be in a better position to withstand a further market downturn given a growing contribution from non-gaming and flexibility to slow its capex on Phases 3 and 4.
The broker continued that GALAXY ENT could outperform its peers in a market recovery, thanks to its relatively larger landbank.
Its target price was cut from $36.5 to $33.8 and its rating was upgraded from Neutral to Buy.
Source: AAStocks Financial News
<Research Report>BofA Merrill Lynch Upgrades GALAXY ENT(00027.HK) to Buy with Target Cut to $33.8
Bank of America Merrill Lynch stated that GALAXY ENT(00027.HK)'s balance sheet was strong and FCF yield equaled 3%-5%.
Based on its current valuation, the growth expectations were reasonable.
The stock should offer attractive risk-reward, as it appeared to be in a better position to withstand a further market downturn given a growing contribution from non-gaming and flexibility to slow its capex on Phases 3 and 4.
The broker continued that GALAXY ENT could outperform its peers in a market recovery, thanks to its relatively larger landbank.
Its target price was cut from $36.5 to $33.8 and its rating was upgraded from Neutral to Buy.
Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027
by winston » Thu Oct 15, 2015 1:48 pm
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GALAXY ENT 3Q Adjusted EBITDA Tumbles 36% to $2.1B
GALAXY ENT (00027.HK) announced certain selected key performance indicators for the third quarter.
Revenue amounted to $12.3 billion, representing a year-on-year decrease of 29% and quarter-on-quarter increase of 5%.
Adjusted EBITDA totaled $2.1 billion, down 36% year-on-year and up 13% quarter-on-quarter.
The group?s total gaming revenue on a management basis in the third quarter of 2015 grew 3% quarter-on-quarter to $11.5 billion but decreased 33% year-on-year.
GALAXY ENT?s balance sheet at 30 September 2015 remains well capitalized and liquid, with cash on hand of $6.0 billion and net cash of $4.8 billion.
GALAXY ENT?s debt declined from $4.8 billion at 30 June 2015 to $1.2 billion at 30 September 2015 due primarily to repaying debt associated with the treasury management exercise.
Source: AAStocks Financial News
GALAXY ENT 3Q Adjusted EBITDA Tumbles 36% to $2.1B
GALAXY ENT (00027.HK) announced certain selected key performance indicators for the third quarter.
Revenue amounted to $12.3 billion, representing a year-on-year decrease of 29% and quarter-on-quarter increase of 5%.
Adjusted EBITDA totaled $2.1 billion, down 36% year-on-year and up 13% quarter-on-quarter.
The group?s total gaming revenue on a management basis in the third quarter of 2015 grew 3% quarter-on-quarter to $11.5 billion but decreased 33% year-on-year.
GALAXY ENT?s balance sheet at 30 September 2015 remains well capitalized and liquid, with cash on hand of $6.0 billion and net cash of $4.8 billion.
GALAXY ENT?s debt declined from $4.8 billion at 30 June 2015 to $1.2 billion at 30 September 2015 due primarily to repaying debt associated with the treasury management exercise.
Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027
by winston » Thu Oct 15, 2015 3:18 pm
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<Research Report>UBS: Galaxy Ent's EBITDA Slightly Beats Estimates; Galaxy Macau's Mass Revenue Surprising
UBS, in its research report, stated that GALAXY ENT (00027.HK)'s EBITDA in the third quarter amounted to nearly $2.1 billion (down 36% yearly; up 13% quarterly), slightly better than the broker's estimate of $2.05 billion and the consensus of $2.09 billion.
Galaxy Macau's mass revenue was surprising and the broker expected investors to react positively.
The broker stated that Galaxy Macau's mass revenue in the third quarter rose 21% quarterly, against the broker's previous estimate of increasing 13%.
That should be driven by Galaxy Macau phase 2 and VIP/mass reclassification.
Source: AAStocks Financial News
<Research Report>UBS: Galaxy Ent's EBITDA Slightly Beats Estimates; Galaxy Macau's Mass Revenue Surprising
UBS, in its research report, stated that GALAXY ENT (00027.HK)'s EBITDA in the third quarter amounted to nearly $2.1 billion (down 36% yearly; up 13% quarterly), slightly better than the broker's estimate of $2.05 billion and the consensus of $2.09 billion.
Galaxy Macau's mass revenue was surprising and the broker expected investors to react positively.
The broker stated that Galaxy Macau's mass revenue in the third quarter rose 21% quarterly, against the broker's previous estimate of increasing 13%.
That should be driven by Galaxy Macau phase 2 and VIP/mass reclassification.
Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027
by winston » Fri Oct 16, 2015 5:24 am
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New Galaxy casinos help boost profit
Galaxy Entertainment Group (0027) reported third-quarter profit that increased 13 percent from the previous three months after the May opening of new casinos added to customer traffic.
Income was HK$2.1 billion, 36 percent less than a year earlier, as measured by adjusted earnings before interest, taxes, depreciation and amortization, the company said.
"The new premium mass area at Galaxy Macau has been performing well," Credit Suisse analysts led by Kenneth Fong wrote in note.
Galaxy's revenue plunged 29 percent year on year, while rising 5 percent from the previous quarter to HK$12.3 billion.
The firm, controlled by billionaire Lui Che Woo, opened the phase two expansion of Galaxy Macau and the revamped Broadway Macau in May.
The Galaxy Macau casinos adjusted EBITDA was down 30 percent year on year and rose 19 percent from the second quarter.
Revenue from VIPs fell 38 percent from a year earlier and 4 percent from the previous quarter.
Mass revenue fell 2 percent from a year earlier and rose 21 percent sequentially.
Broadway Macau recorded revenue of HK$189 million for its first full quarter of operation. The stock surged 11.3 percent to HK$29.10 yesterday.
Source: BLOOMBERG
New Galaxy casinos help boost profit
Galaxy Entertainment Group (0027) reported third-quarter profit that increased 13 percent from the previous three months after the May opening of new casinos added to customer traffic.
Income was HK$2.1 billion, 36 percent less than a year earlier, as measured by adjusted earnings before interest, taxes, depreciation and amortization, the company said.
"The new premium mass area at Galaxy Macau has been performing well," Credit Suisse analysts led by Kenneth Fong wrote in note.
Galaxy's revenue plunged 29 percent year on year, while rising 5 percent from the previous quarter to HK$12.3 billion.
The firm, controlled by billionaire Lui Che Woo, opened the phase two expansion of Galaxy Macau and the revamped Broadway Macau in May.
The Galaxy Macau casinos adjusted EBITDA was down 30 percent year on year and rose 19 percent from the second quarter.
Revenue from VIPs fell 38 percent from a year earlier and 4 percent from the previous quarter.
Mass revenue fell 2 percent from a year earlier and rose 21 percent sequentially.
Broadway Macau recorded revenue of HK$189 million for its first full quarter of operation. The stock surged 11.3 percent to HK$29.10 yesterday.
Source: BLOOMBERG
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Re: Galaxy Entertainment's 0027
by winston » Fri Oct 16, 2015 11:54 am
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<Post-Result>Brokers' Latest Investment Ratings & TPs for GALAXY ENT (Table)
GALAXY ENT (00027.HK) unveiled its third quarter results yesterday (15 October), recording a year-on-year decrease of 36% but quarter-on-quarter increase of 13% in adjusted EBITDA to $2.1 billion.
The following is the latest investment ratings and target prices from 17 brokers:
Broker/ Investment Rating/ Target Price (HK$)
Jefferies/ Buy/ 44.3
Credit Suisse/ Outperform/ 37.6
Barclays/ Overweight/ 37.4
HSBC/ Buy/ 37
Bank of America Merrill Lynch/ Buy/ 33.8->35
JP Morgan/ Overweight/ 32.5->34.5
Citigroup/ Buy/ 32->34
CIMB/ Overweight/ 33.61
Goldman Sachs/ Buy/ 27.9->32.4
Morgan Stanley/ Overweight/ 27->31
BNP Paribas/ Buy/ 30.6
Nomura/ Neutral/ 26.3->28.6
UOB Kay Hian/ Hold/ 24.8->28.3
Kim Eng/ Hold/ 26.25->27.8
UBS/ Neutral/ 26->27
Deutsche Bank/ Hold/ 20->21
Macquarie/ Underperform/ 20->20.05
Source: AAStocks Financial News
<Post-Result>Brokers' Latest Investment Ratings & TPs for GALAXY ENT (Table)
GALAXY ENT (00027.HK) unveiled its third quarter results yesterday (15 October), recording a year-on-year decrease of 36% but quarter-on-quarter increase of 13% in adjusted EBITDA to $2.1 billion.
The following is the latest investment ratings and target prices from 17 brokers:
Broker/ Investment Rating/ Target Price (HK$)
Jefferies/ Buy/ 44.3
Credit Suisse/ Outperform/ 37.6
Barclays/ Overweight/ 37.4
HSBC/ Buy/ 37
Bank of America Merrill Lynch/ Buy/ 33.8->35
JP Morgan/ Overweight/ 32.5->34.5
Citigroup/ Buy/ 32->34
CIMB/ Overweight/ 33.61
Goldman Sachs/ Buy/ 27.9->32.4
Morgan Stanley/ Overweight/ 27->31
BNP Paribas/ Buy/ 30.6
Nomura/ Neutral/ 26.3->28.6
UOB Kay Hian/ Hold/ 24.8->28.3
Kim Eng/ Hold/ 26.25->27.8
UBS/ Neutral/ 26->27
Deutsche Bank/ Hold/ 20->21
Macquarie/ Underperform/ 20->20.05
Source: AAStocks Financial News
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