Galaxy Ent 0027 / Lui Chee Woo

[winston]

not vested

Galaxy adjusted pretax earnings up 6pc to $2.9b

by June Chen

Adjusted third-quarter EBITDA reached HK$2.94 billion, a 6 percent increase year-on-year, though it was a 7 percent decline quarter-on-quarter.

Revenue in the third quarter advancing 11 percent year-on-year to HK$10.7 billion, while it was down 2 percent quarter-on-quarter.

Source: The Standard

https://www.thestandard.com.hk/section- ... c-to-$2.9b

[winston]

<Research>DBS Slashes GALAXY ENT (00027.HK) TP to $45.2 on Low Macro Visibility

DBS Group Research issued a research report slashing its target price for GALAXY ENT (00027.HK) from $55.22 to $45.2, with rating kept at Buy, based on its prudent approach on low macro visibility.

GALAXY ENT has the best liquidity position among casinos, with net cash of more than $15 billion and annual operating cash flow of over $10 billion, which should be sufficient to support ongoing investment, including to strengthen its integrated resorts, mainly non-gaming projects that can further boost market share, DBS Group Research added.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

<Research>CLSA Cuts GALAXY ENT's TP to $45.8 w/ Lower Profit Forecast

CLSA commented in its research report that Macau's GGR for January this year showed a lackluster performance with MOP18.3 billion, 6% below consensus.

Meanwhile, Macau recorded lukewarm visitations averaging only 150,600 visitors per day from January 29 to 31 this year.

The broker lowered its profit forecast for GALAXY ENT (00027.HK) and its H-share target price from $46.5 to $45.8.

Its industry top picks were Sands China and GALAXY ENT.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Galaxy's earnings soar 28pc to $8.8b

Net profit in 2024 grew 28 percent to HK$8.8 billion over a year ago, and its board proposed a final dividend of 50 HK cents per share payable in June.

Net revenue rose by 22 percent to HK$43.4 billion while adjusted earnings before interest, taxes, depreciation and amortization surged 22 percent to HK$12.2 billion.

As the primary driver to group revenue and earnings, Galaxy Macau's net revenue surged 24 percent to HK$34.5 billion, while its adjusted EBITDA rose 18 percent year-on-year to HK$10.8 billion.

The combined seven hotels occupancy was 98 percent for 2024.

Galaxy reported gross gaming revenue of HK$41.1 billion, a 30 percent year-on-year increase, outpacing Macau's overall GGR growth of 24 percent, according to the Gaming Inspection and Coordination Bureau.

Mass GGR was HK$33.1 billion, a 25 percent year-on-year increase, while VIP GGR totaled HK$5.3 billion, up 55 percent year-on-year.

Source: The Standard

https://www.thestandard.com.hk/section- ... c-to-$8.8b

[winston]

not vested

Galaxy Entertainment Group (27 HK)

2Q25: Normalised EBITDA Up 7% qoq; Expects Reinvestment Efficiency To Be Optimised;

Increased Dividend Payout To Remain Sustainable

Galaxy’s 2Q25 normalised EBITDA rose 7% qoq.

In 2Q25, the lower hold rate led to a modest mass market share gain. However, the hold rate has been normalising qtd.

With Capella’s opening, management expects reinvestments efficiency to be optimised further amid intense market competition.

The company declared an interim dividend of HK$0.70, implying a payout ratio of 58%, and management expects the payout ratio of about 60% to remain sustainable.

Maintain BUY; raise target price by 5% to HK$45.00.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

[winston]

not vested

<Results>GALAXY ENT 2025 NP $10.674B, Up 21.9% YoY; Final DPS 80 Cents

GALAXY ENT (00027.HK) announced its full-year results for the year ended last December.

The revenue was HKD49.242 billion, up 13.4% YoY.

The net profit was HKD10.674 billion, up 21.9% YoY. EPS was HKD2.44.

The final dividend was HKD0.80 (compared to HKD0.50 in the same period last year).

The adjusted EBITDA was HKD14.5 billion, up 19% YoY.

Chairman Francis Lui stated that the company continued to drive growth across every segment of the business, with a particular focus in the premium mass and the super-premium mass segment.

Capella soft launched in May 2025 and officially opened on 10 February 2026.

In 2026 the company will continue its partnerships with leading global entertainment companies to present marquee concerts, while expanding its collaboration with UFC to bring thrilling UFC Fight Nights to the city.

It has also renewed a three-year cooperation agreement with DAMAI ENT (01060.HK) , a member of Alibaba Group (BABA.US) and Macau Pass to enhance its events ticketing services.

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Summary of Latest Ratings, TPs, Views on GALAXY ENT from Major Brokers

Brokers | Ratings | TPs (HKD) | Core Views

Related News HSBC Research: Macau Avg Daily GGR in First 10 Days of May Flat; Bullish on SANDS CHINA LTD (01928.HK), GALAXY ENT (00027.HK) and MGM CHINA (02282.HK)

Goldman Sachs | Buy | 53.2 | 1Q results met expectations. Market share in GGR rebounded in April and May. Dividend level provides downside support for the share price.

HSBC Research | Buy | 48.5 | 1Q margin beat. The company defended market share through precise marketing strategies while maintaining cost discipline. Continued growth of Capella at Galaxy Macau and Horizon Plus in Macau will support EBITDA growth this year.

CLSA | Outperform | 47.4 | Results met expectations. Net cash reached as high as USD4.67 billion, with capex expected to peak in 2026.

Related News UBS: GALAXY ENT (00027.HK), WYNN MACAU (01128.HK) Gain GGR Market Share in April

UBS | Buy | 46 | 1Q adjusted EBITDA met expectations. EBITDA margin improved after adjusting for win rate. Although the World Cup may affect short-term traffic, the company arranged events in response.

Morgan Stanley | Equalweight | 39 | 1Q results met expectations. Operating expenses remained disciplined.

Citi | Buy | 52 | 1Q results met expectations. Core gaming business EBITDA still recorded YoY growth. Both mass and VIP GGR increased.

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN