Galaxy Entertainment Group Reports Strong 2024 Earnings

Galaxy Entertainment Group ( (GXYEF) ) has released its Q4 earnings. Here is a breakdown of the information Galaxy Entertainment Group presented to its investors.

Galaxy Entertainment Group (GEG) is a leading global resort, hospitality, and gaming company, primarily operating integrated resorts, retail, dining, hotel, and gaming facilities in Macau. Listed on the Hong Kong Stock Exchange, GEG is a constituent of the Hang Seng Index and is known for its innovative and award-winning properties.

In its latest earnings report, Galaxy Entertainment Group announced a strong financial performance for 2024, with a 22% increase in full-year adjusted EBITDA to $12.2 billion and a 28% rise in net profit attributable to shareholders to $8.8 billion. The company also declared a final dividend of $0.50 per share, reflecting confidence in its future prospects.

Key highlights from the report include Galaxy Macau’s significant contribution to the group’s earnings, with a 24% increase in net revenue and an 18% rise in adjusted EBITDA. The company also made strategic advancements in non-gaming sectors, hosting numerous entertainment events and expanding its international visitor base. Additionally, GEG maintained a strong balance sheet with $31.3 billion in cash and liquid investments.

Looking ahead, Galaxy Entertainment Group is well-positioned to capitalize on Macau’s growing tourism and entertainment sectors. The company plans to continue its development projects, including the opening of Capella at Galaxy Macau in mid-2025 and the completion of Phase 4 by 2027, which will further enhance its non-gaming offerings and support Macau’s vision of becoming a world center of tourism and leisure.