Galaxy Ent 0027 / Lui Chee Woo

Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Thu Oct 25, 2018 1:04 pm

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<Result Ann>GALAXY ENT 3Q Adjusted EBITDA Up 10% YoY to HK$3.9B

GALAXY ENT (00027.HK) announced that for the third quarter ended 30 September, the group?s net revenue increased 6% year-on-year to HK$13 billion.

Adjusted EBITDA increased 10% year-on-year to HK$3.9 billion.

GEG played unlucky in its gaming operations during the period. Normalized 3Q18 adjusted EBITDA grew 16% year-on-year to HK$4.2 billion.

Source: AAStocks Financial News
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Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Thu Oct 25, 2018 8:15 pm

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Galaxy Entertainment moves on with Hengqin resort concept plan

Galaxy Entertainment Group (0027) says it is "continuing to move forward'' with the development of stages three and four in Cotai, which will include 4,500 hotel rooms, including family and premium high end rooms.

There will also be 400,000 square feet of MICE space, a 500,000 square feet 16,000-seat multi-purpose arena, food and beverage, retail and casinos, among others.

In Hengqin, GEGE said it continues to make progress with the concept plan.

Hengqin will allow GEG to develop a low density leisure destination resort that will complement our high energy resorts in Macau.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... r=20181025
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Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Fri Oct 26, 2018 9:32 am

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Galaxy Entertainment (27 HK)
3Q18: The Leader Slips On Poor Luck And Competition


Galaxy lost market share as its GGR growth (+6.9% yoy) decelerated below the Macau industry’s 10.2% in 3Q18 due to reduced win rates and Sands China and MGM China’s offensive into the VIP space.

Its adjusted EBITDA growth decelerated to 10.1% yoy at HK$3,877m (hold-adjusted: +16% yoy).

Key positive is that management sees gaming volume growth at double digits for both VIP and mass so far in October. Maintain BUY with a lower target price of HK$53.00.

Source: UOBKH

https://research.uobkayhian.com/content ... 0d6941b885
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Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Fri Oct 26, 2018 11:34 am

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3Q18 results: Near-term strong

GEG’s 3Q18 EBITDA was HK$3.9m (+10% yoy, -10% qoq), 1% above our expectations.

Despite macro headwinds, management remains confident about the nearterm outlook for gaming demand in Macau.

Maintain Add with a reduced target price, based on SOP. Our target FY19F EV/EBITDA multiple reduced from 19x to 12.5x (in-line with 10-year average)

Source: CIMB

https://brokingrfs.cimb.com/7ixvmHnZRLS ... TaCrQ2.pdf
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Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Fri Oct 26, 2018 12:57 pm

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<Research Report>G Sachs: GALAXY ENT (00027.HK) Rated Buy on In-line QoQ Results

Goldman Sachs' report pointed out that GALAXY ENT (00027.HK) 3Q18 adjusted EBITDA dropped 10% quarterly to $3.879 billion, in-line.

The broker reiterated Buy on GALAXY ENT at the target price $65.2, trimmed from $65.5.

Goldman Sachs opined that the current value tends to be undemanding after recent share buybacks.

It continued to prefer GALAXY ENT over WYNN MACAU (01128.HK).

Source: AAStocks Financial News
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Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Fri Oct 26, 2018 1:05 pm

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<Research Report>BofAML Rates GALAXY ENT (00027.HK) at Buy with TP Up to $62

GALAXY ENT (00027.HK)'s adjusted 3Q EBITDA rose 10% YoY to $3.879 billion, beating the projection of Bank of America Merrill Lynch and market.

The group's VIP and mass businesses registered double-digit growth at 15-20%, as the research house learnt from the results conference call during National Day Golden Week.

Bank of America Merrill Lynch believed the market share loss in 3Q is temporary, instead of a trend, based on past record.

The target price was lifted to $62 from $61.2 with rating reiterated Buy.

Source: AAStocks Financial News
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Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Thu Nov 29, 2018 1:44 pm

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<Research Report>Broker: GALAXY ENT (00027.HK) VIP Biz Still Healthy, Expects Stable Outlook

GALAXY ENT (00027.HK) has an overall steady outlook, backed by visitation growth after the debut of the Express Rail Link and the Hong Kong-Zhuhai-Macao Bridge, as Morgan Stanley quoted from the company's management.

GALAXY ENT's VIP business remains healthy, despite competition from Filipino and Cambodian markets.

With the opening of a new VIP club in Ritz Carton, the operator has witnessed decent direct VIP growth.

GALAXY ENT was rated Equalweight at a $54.5 price target.

Source: AAStocks Financial News
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Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Thu Dec 06, 2018 9:13 am

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NDR feedback

We hosted an NDR for GEG on 26-27 Nov in Kuala Lumpur. The majority of the investors we met with held a cautious view on the sector.

Management remains upbeat on the company’s earnings growth drivers and the longer-term outlook for Macau’s gaming sector.

Maintain Add with an unchanged target price of HK$59.62 based on SOP valuation. A potential catalyst is stronger-than-expected sector GGR.

Source: CIMB

https://brokingrfs.cimb.com/jgMC_VQUoAy ... DrlmQ2.pdf
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Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Thu Feb 28, 2019 3:51 pm

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<Research Report>M Stanley: GALAXY ENT (00027.HK) 4Q18 EBITDA In-line with Strong Mass

GALAXY ENT (00027.HK) delivered 4Q18 EBITDA of $4.3 billion (+12% QoQ/ +4% YoY), in line with Morgan Stanley's forecast and street consensus.

Thanks to $77 million luck benefit, GALAXY ENT's adjusted EBITDA grew by 1% QoQ and 4% YoY.

Hence, GALAXY ENT was rated Equalweight at a $51 price target.

Galaxy Macau outperformed StarWorld Hotel last quarter.

The broker reported Galaxy Macau's 16% YoY EBITDA growth under luck benefit and strong mass (+11% YoY).

Source: AAStocks Financial News
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Re: Galaxy Ent 0027 / Lui Chee Woo

Postby winston » Fri Mar 01, 2019 5:59 am

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The net profit of Galaxy Entertainment (0027) for 2018 rose 28.59 percent year-on-year to HK$13.51 billion, beating market expectations.

It declared a special dividend of 45 HK cents, without declaring a final dividend.

Net profit was HK$14.1 billion, up 28 percent year-on-year after adjusting for HK$0.6 billion of non-recurring charges.

The group said that it will focus on the mass business, and will expand the non-gaming business, following the government's expectation of diversifying development.

It expected the HK$1.5 billion property enhancement program for Galaxy Macau and StarWorld Macau to be completed in phases this year and next year.

Full-year revenue rose 14 percent year-on-year to HK$55.2 billion, and the fourth-quarter group revenue was HK$14.2 billion, up 2 percent year-on-year and up 9 percent quarter-on-quarter.

Chairman Lui Che-woo believed that Macau's tourism industry would be more prosperous, benefiting from the Greater Bay Area development.

Lui said he would respect the Macau government's decision on the licenses of the industry.

Source: The Standard
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