The Galaxy Entertainment Group recorded earnings before interest, taxes, depreciation, and amortization (EBITDA) of nearly 3.3 billion Hong Kong dollars (€375.2 million) between January and March.
In the first three months of 2025, the company garnered revenues of 11.2 billion Hong Kong dollars (€1.28 billion), marking an increase of 6.2% compared to the same quarter of the previous year.
Macau’s gaming sector posted total revenues of nearly 57.7 billion patacas (€6.66 billion) from January to March, a rise of 0.6% over the same period in 2024. However, this figure only represented 75.7% of the cumulative total for the first three months of 2019.
In a statement sent to the Hong Kong Stock Exchange, the president of Galaxy expressed that “despite geopolitical turbulence and ongoing economic downturn, the global Macau market remains resilient.”
Francis Lui Yiu Tung expressed satisfaction with the performance of the company’s casinos “during the Chinese New Year and particularly in the post-New Year period.”
The so-called ‘golden week’ of the Lunar New Year is a holiday period in mainland China, which varies according to the lunar calendar. This peak tourism season in Macau transpired between January 28 and February 4 this year.
Francis Lui emphasized that the company’s financial balance reached 33 billion Hong Kong dollars (€3.76 billion), carrying a debt of four billion Hong Kong dollars (€455.8 million).
A “healthy and liquid” balance sheet enables the company to finance development plans and pursue its “international expansion ambition,” stated the executive, pointing to Thailand as an example.
The Thai government proposed legislation to legalize casino gambling, but parliamentary discussion was postponed in early April due to opposition from members of the governing coalition.
Francis Lui recalled that on April 15, the new Chief Executive of Macau, Sam Hou Fai, expressed concerns about a potential deficit in 2025 due to declining gaming revenues, partly attributed to the impact of the trade war on Chinese consumer spending.
“We acknowledge there are short-term challenges, but we remain confident in Macau’s long-term prospects,” assured the Galaxy president.
Francis Lui further mentioned that the company continues to progress with the construction of the fourth phase of Galaxy Macau, with “a strong focus on non-gaming activities, primarily targeting entertainment and family facilities.”
The emphasis on non-gaming elements and overseas visitors was among the requirements set by Macau authorities for the renewal of the 10-year licenses for the six operators in the territory, effective from January 1, 2023.
The new hotel at the Galaxy Macau integrated resort, named Capella, began a trial operation in May and is expected to officially open “in the coming months,” added Francis Lui.
