Galaxy Ent 0027 / Lui Chee Woo

Re: Galaxy Entertainment's 0027

Postby winston » Tue Mar 01, 2016 2:31 pm

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Feb 26, 2016

<Research Report>C Suisse Rates GALAXY ENT at Outperform with Target Lifted to $37

Credit Suisse stated that GALAXY ENT (00027.HK)'s EBITDA in the fourth quarter of 2015 rose 18% quarterly to $2.5 billion, above the market expectations of $2.3 billion. That was mainly attributable to the better cost control and leverage.

The broker lifted GALAXT ENT's earnings forecast in FY2016-2017 by 3%-12%. The target price was raised to $37 from $35.7. The rating was maintained at Outperform. The stock was also Credit Suisse's sector top pick.

In Credit Suisse's opinion, GALAXY ENT performed well in different ascepts. In spite of competitions from new projects, its VIP, mass and slot machines still recorded a quarterly growth of 9%, 8% and 5%. EBITDA margin also improved to 18.6%.

GALAXY ENT was considered as the sector top pick to reflect its potential rise in earnings. Its 2016 EBITDA is likely to reach $9.7 billion, against the consensus of $9.3 billion.

Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027

Postby winston » Tue Mar 08, 2016 11:46 am

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Lui Che-Woo: Proposes to Build Avatar-Like Theme Park for Galaxy Macau

GALAXY ENT (00027.HK)'s chairman Lui Che-Woo, in an interview with Bloomberg, mentioned that the next two phases of the Galaxy Macau project will include ?something special and high-tech? similar to the movie ?Avatar?.

It was reported that the next two phases of the project will involve an investment of approximately $86 billion. Site investigation is expected to kick off this year. Comparing with Shanghai Disneyland, Galaxy Macau's theme park will be small but unique, Lui said.

Lui added that he will continue the investment in Macau. He also planned to set up a resort with water sports facilities in Hengqiu, Zhuhai and the details will be announced in the second half of 2016.

Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027

Postby winston » Thu Apr 14, 2016 11:47 am

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<Research Report>Citi Raises GALAXY ENT Target to $33; Rated Buy

Citigroup broadly maintained GALAXY ENT (00027.HK) 2016-2018 earnings estimates unchanged and believed that 2Q16 will be the last negative growth quarter of Macau GGR YoY.

Starting from 3Q16, Macau should return to positive growth territory, thanks to the opening of Wynn Palace and the Parisian.

The target price of the casino was raised to $33 from $31 and the rating was reiterated at Buy since the broker believes that the company will be able to defend its market share in the near term with the help of its new premium mass products at Galaxy Macau and StarWorld.

The research house expects GALAXY ENT to report revenue of $12.695 billion in 1Q, down 7% from previous year. EBITDA gained 9% yearly to $2.518 billion.

Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027

Postby winston » Thu Apr 28, 2016 4:47 am

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New resorts give the edge to Galaxy

Galaxy Entertainment Group (0027) posted its first quarterly profit gain in more than a year as its new resorts drew in more casual gamblers and tourists.

First-quarter adjusted earnings before interest, taxes, depreciation and amortization rose 6 percent to HK$2.4 billion from the first three months of last year, it said yesterday. It was the first year-on-year profit gain since the 1-percent increase in the third quarter of 2014.

"The solid performance of Galaxy's new projects should drive best-in-class profit momentum," JPMorgan's DS Kim said. "The new resorts helped the operator gain market share and improve its shift toward the mass- market as well as non-gaming business."

An anti-graft campaign and slowing economy in China have discouraged high-rolling VIP gamblers from going to Macau.

Gross gaming revenue has fallen for 22 straight months. The casino operator reported mass-market revenue from tables attracting casual gamblers was at HK$5 billion, a 17-percent increase from a year ago and a 2-percent rise from the last quarter.

Revenue contributed by high-end gamblers saw a 17 percent year-on-year decline, as the company continues to allocate resources to the mass market and non-gaming, the company said in a statement.

Galaxy Macau Phase Two and Broadway Macau resorts, the first new projects in Macau in three years, began operating last May and features a 3,000-seat theater.

The Macau government forecasts that non- gaming revenue at casinos will rise to 9 percent by 2020 from 6.6 percent in 2014.

Source: BLOOMBERG
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Re: Galaxy Entertainment's 0027

Postby winston » Fri Apr 29, 2016 3:13 pm

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<Research Report>M Stanley Trims GALAXY ENT (00027.HK) Target to $29; Rated Overweight

GALAXY ENT (00027.HK)'s 1Q EBITDA and mass were above market expectation, helped by Phase 2 opening and cost control.

However, Morgan Stanley trimmed 2016-2018 EBITDA forecast by around 8%/ 5%/ 5% to factor in lower retail rental and slot revenue.

The target price was cut to $29 from $30 and the rating was maintained at Overweight.

Due to appealing valuation, the EV/EBITDA is approximately 12x, lower than that of about 14x for its peers.

GALAXY ENT's retail rental fell by 27% QoQ, driven by a weaker retail sales outlook and renegotiation with existing tenants. Hence, the broker revised down 2016 retail rent forecast from US$120 million to US$83 million.

Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027

Postby winston » Wed May 11, 2016 6:24 am

Galaxy bets on stability

by Esther Yu

Gambling businesses in Macau have been stabilized and curbs on UnionPay card could be beneficial to the industry, Galaxy Entertainment (0027) chairman Lui Chee-woo said.

At the gaming giant's annual general meeting yesterday, shareholders expressed concerns about the firm as gambling revenue in Macau has declined for 23 months in a row.

"I think it should have bottomed out," said Lui after the annual gathering. He made a similar statement at the end of last year.

Lui also added that other market players have started to construct new facilities in the hope of attracting more tourists. Galaxy posted a 2 percent slide in earnings before interest, taxes, depreciation and amortization to HK$2.4 billion in the first quarter, slightly lower than the market expectation of HK$2.47 billion.

The central government's most recent crackdown on money laundering compels mainlanders to provide proof of identification when using their UnionPay credit cards in Macau.

Lui believes the impact on the industry will be minimal. The regulation will mainly affect junket operators that may eventually end up improving transparency and thereby creating a healthier market. He believes right now there is too little regulation involving VIP tables.

As for the Macau government's effort to to ban smoking altogether in casinos, Lui said casinos in Singapore and Philippines have made smoking rooms available.

A ban on smoking will have a negative impact on business, he said, and therefore urged the government to judge on the situation.

When asked of his preference on next year's chief executive election, he said he is not going to comment on politics. Hong Kong need stability for businesses, he said, and to reduce disagreements.

Source: The Standard
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Re: Galaxy Entertainment's 0027

Postby winston » Tue Aug 09, 2016 4:12 pm

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GALAXY ENT: To Focus on Non-Gaming Biz in Future

Kevin Clayton, Chief Marketing Officer of GALAXY ENT (00027.HK), said that the company will focus on non-gaming businesses in the future, with a target of being an international leisure center in Asia.

He hopes that the whole Macau will jointly develop the tourism industry, not only GALAXY ENT.

The Chief Marketing Officer expects the number of tourist arrivals to rise 3-5% annually on average in the upcoming ten years.

Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027

Postby winston » Sat Aug 20, 2016 7:10 am

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In Macau’s casinos, high rollers come and go, but one man stands above them all

Galaxy Entertainment chairman Lui Che-woo sees grandeur in Macau in the next few years when the Hong Kong-Zhuhai-Macau bridge opens

“The clientele has changed from high-stakes gamblers to mass-market gamblers, and now holiday makers spending their weekends in Macau,” he told the South China Morning Post.“Macau is no longer a place just for gambling.


By 2020, a 50km bridge will link the roads from Hong Kong to Macau to Zhuhai, cutting travel time to 30 minutes. As many as 100 cities and townships on mainland China will be within a three-hour radius from the bridge.


Macau’s gaming revenue dropped between 10 per cent and 20 per cent every quarter for two years


Lui, who owns 51 per cent of Galaxy, saw his estimated wealth plummet to US$9.1 billion, making him Hong Kong’s sixth-wealthiest man so far this year, from No 2 in 2014, according to Forbes magazine.

Two years ago, the Lui family’s wealth was estimated at US$21 billion, behind only that of Hong Kong tycoon Li Ka-shing.

Lui owns 61 per cent of property developer K Wah International, with a market value of HK$12.15 billion as at Friday.


Source: SCMP

http://www.scmp.com/property/hong-kong- ... man-stands
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Re: Galaxy Entertainment's 0027

Postby winston » Thu Aug 25, 2016 1:49 pm

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<Post-Result>GALAXY ENT Soars Over 2% on 26% Rise in Interim Profit

GALAXY ENT (00027.HK) announced that for the interim period as of the end of June, the net profit rose 26% yearly to $2.558 billion.

The EPS equaled 60 cents; a special dividend of $0.18 was declared, up nearly 29% year on year.

During the period, total operating revenue grew to $25.539 billion; adjusted EBITDA rose 13% yearly to $4.7 billion.

For the second quarter, the adjusted EBITDA of the group rose 22% yearly or fell 7% quarterly to $2.3 billion.

The stock closed at $25.4 at midday, down 1.6%. Peaking at $26.55, it was last at $26.35, up 2.1%, on volume of 11.45 million shares.

Source: AAStocks Financial News
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Re: Galaxy Entertainment's 0027

Postby winston » Thu Aug 25, 2016 3:17 pm

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GALAXY ENT: Saves $800M Successfully; Plans Further Cost Cut by $300M This Year

GALAXY ENT (00027.HK), in its interim results, said previously it had announced an $800 million cost control initiative.

Up to the end of 1Q 2016, it had delivered $650 million and during 2Q it delivered the remaining $150 million.

Importantly, the company said, this has been achieved without any local labor redundancies and it had identified an incremental $300 million of additional cost savings which will be delivered in 2016.

Source: AAStocks Financial News
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