MACAU BUSINESS Galaxy Q2 EBITDA expands 28 pct G
alaxy Entertainment Group has reported a rise of 28 per cent year on year and 12 per cent quarter on quarter in adjusted EBITDA, with some HKD3.2 billion (US$410 million/MOP3.3 million) reported for the second quarter of 2024. According to a company announcement, the group’s net revenue stood at HKD10.9 billion – a rise of 26 per cent compared to a year earlier and of 3 per cent quarter on quarter. In half-year terms, the group’s net revenue went up 37 per cent year on year to HKD21.5 billion, while adjusted EBITDA soared 37 per cent to HKD6 billion. Flagship Galaxy Macau saw its half-year net revenue up 43 per cent year on year to HKD17 billion, while adjusted EBITDA rose 34 per cent year on year to HKD5.4 billion. In a Q2 context, net revenue went up 32 per cent year on year to HKD8.6 billion – up 4 per cent quarter on quarter. Meanwhile, adjusted EBITDA reached HKD2.8 billion – a year-on-year rise of 28 per cent and a quarter-on-quarter hike of 6 per cent.
August GGR hits MOP 19.75 billion, up 14.8 pct M G
acau’s gross gaming revenue (GGR) hit MOP 19.75 billion (USD 2.47 billion) in August, up 14.8 percent year-on-year, the city’s gaming regulator announced. Last month’s figure is 6.2 percent up from the previous month and represents the second-best performance since the post-pandemic reopening in early 2023, only surpassed by the MOP 20.18 billion tally in May.
According to the Gaming Inspection and Coordination Bureau (DICJ), total GGR for the first eight months of 2024 reached MOP 152.1 billion (USD 19 billion), accounting for a 33.4 percent increase compared to the same period in 2023. The revenue recorded so far this year already represents 70 percent of the government’s full-year MOP 216 billion forecast.
Light & Wonder posts 13th straight quarter of revenue growth
aming services provider Light & Wonder has reported continued revenue growth for the last 13 quarters.
According to a recent company announcement, consolidated revenue for the second quarter rose 12 per cent to US$818 million (MOP6.57 billion). Apart from the 13th consecutive quarter of year-over-year expansion, the advancement also marks the eighth back-to-back quarter of double-digit growth in revenue – propelled by robust performances across all business divisions.
Gaming revenue climbed 14 per cent – largely thanks to continued growth in gaming equipment sales that was up 32 per cent year on year that quarter – with Australia and Macau the biggest sales drivers.
The company also reported a 14 per cent rise in gaming systems, and 5 per cent in gaming operations revenue.
SciPlay and IGaming revenue grew by 8 per cent and 6 per cent, respectively. Macau Legend narrows H1 loss M
acau Legend Development has reported a net loss of about HK$109.9 million (US$14.1 million/MOP113.4 million) for the first half of 2024, with the loss narrowing by over 39 per cent from HK$182.5 million a year earlier. According to a recent unaudited filing to Hong Kong’s stock exchange from the company, the group recorded a year on year increase of over 43 per cent in gaming- related revenue to HK$208.5 million .
Total revenue – plus the HK$181.89 million from non-gaming operators – went up 16.5 per cent to HK$390.4 million in the January-June period. When it came to adjusted EBITDA, the first six months of 2024 saw some HK$85.3 million, up significantly from HK$52.2 million recorded in the same period of 2023. Macau Legend owns the waterfront Macau Fisherman’s Wharf on the peninsula, with its businesses including managing a casino, Legend Palace Casino, on the premises under the concession licence held by SJM Holdings.
OCTOBER 2024 31
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68
