• Thu
  • Dec 25, 2014
  • Updated: 11:05am

Galaxy Entertainment Group

Galaxy shines from high-stakes play

Galaxy Entertainment's flagship casino resort, Galaxy Macau hotel. The firm is spending HK$16 billion on its next phase of growth. Photo: AFP

Adjusted earnings before interest, taxes, depreciation and amortisation for the quarter to March rose to HK$2.77 billion from HK$2.15 billion a year ago, Galaxy said in a statement. The median estimate of six analysts was HK$2.79 billion.

Thursday, 16 May, 2013, 3:53am

Profits dip as The VIPs pull back

The money is on bigger dividends from the operators including Sands, after Wynn in Las Vegas declared a US$8 a share payout. Photo: AFP

Casino operator Wynn Macau yesterday reported a drop in third-quarter profit, deepening the gloomy outlook for Macau's gaming industry.

The casino operator's quarterly profit fell 3.1 per cent to US$203.3 million, with the lucrative VIP segment shrinking 12.1 per cent as high rollers pulled back.

26 Oct 2012 - 2:50am

Ex-partner claims breach of contract in Venetian deal

Las Vegas Sands faces a three billion pataca lawsuit from a former partner in Macau, claiming breach of contract by the American resort company before securing its gaming licence a decade ago.

15 Mar 2012 - 12:00am

Macau's casinos rewrite the record books

Macau casino revenue again set a record last month, soaring 42.3 per cent from a year earlier to 26.8 billion patacas (HK$25.5 billion).

Any signs of a looming economic slowdown failed to dent turnover on the high-stakes baccarat tables, as the city's gambling volumes enjoyed their usual surge over the mainland's National Day 'golden week' holiday.

2 Nov 2011 - 12:00am

Spending on advertising hits record high

Advertising spending in Hong Kong's hotel sector reached a record high in May, boosted by Galaxy Macau's massive campaign to promote its recently opened five-star resort casino.

Media-monitoring firm admanGo yesterday reported that Galaxy Macau's advertising blitz amounted to HK$27.86 million, which accounted for 57 per cent of its industry's total spending last month.

24 Jun 2011 - 12:00am

Effective response to emerging trends

Galaxy Entertainment Group (GEG) has been at the heart of Macau's thriving casino and hotel industry.

'GEG owns and operates StarWorld Hotel and Casino, a luxury five-star property on the Macau peninsula,' says Trevor Martin, the group's senior vice-president of human resources and administration.

18 Jun 2011 - 12:00am

Galaxy Macau plasters MTR station with ads

Galaxy Macau, the new five-star casino resort, has bought up all the advertising space in the Tsim Sha Tsui MTR station - nearly 10,000 square metres in all - to promote its opening 12 days from now.

5 May 2011 - 12:00am

Galaxy Entertainment swings to HK$1b profit after debt buyback

Casino operator Galaxy Entertainment Group recorded a net profit of HK$1.06 billion in the first half thanks to gains from a debt buyback and cost control, after reporting a loss a year earlier.

19 Sep 2009 - 12:00am

Neptune buys Best Max for HK$4.32b

Neptune Group has agreed to pay HK$4.32 billion for Best Max, which is entitled to share profits at a casino of Galaxy Entertainment Group. The acquisition will allow Neptune to take profits from 0.45 per cent of up to HK$20 billion in monthly rolling turnover by Lucky Star, a junket and gaming promoter at Galaxy's StarWorld Casino.

8 Jul 2008 - 12:00am

Galaxy taps junket partner to boost sales

In an aggressive move to claw back lost market share, Galaxy Entertainment Group, the Macau gaming company controlled by the family of Hong Kong property and construction tycoon Lui Che-woo plans to more than double VIP gaming capacity by forging an alliance with a large high-roller junket operator.

19 Apr 2008 - 12:00am

Macau plays down but seen as recession-proof opportunities

The chips are down across the board for Macau plays, but some analysts see buying opportunities and the promise of insulation from the broader market turmoil.

28 Jan 2008 - 12:00am

Get Nice to expand margin-finance trade

Get Nice Holdings, a securities firm and Macau casino hotel investor, will seek to expand its margin-financing business after profit in the six months to September more than quadrupled to HK$186.4 million on soaring trading on the Hong Kong stock market.

19 Dec 2007 - 12:00am

Galaxy pre-tax earnings surge on StarWorld high-stakes strategy

Galaxy Entertainment Group, the Macau casino operator controlled by the family of property and construction tycoon Lui Che-woo, said pre-tax earnings rose to HK$1.1 billion in the first nine months, already 150 per cent more than last year's full-year results.

6 Dec 2007 - 12:00am

'Jackpot' winner unlikely to receive prize

A Hong Kong woman who apparently hit a jackpot of HK$40 million in Macau is unlikely to cash in the amount due to a 'machine error', the city's deputy gaming inspector said yesterday.

'It seems that the amount will not be paid out,' said Antonio Pedro Silva Correia Paiva, deputy head of the Gaming Inspection and Co-ordination Bureau (DICJ)

1 Sep 2007 - 12:00am

Casinos come to the party

Plans to turn the city into a sporting hub for the region is fast gaining ground as the private sector starts financing international events

10 Aug 2007 - 12:00am

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