Galaxy Entertainment Group recently released the 2023 Q4 revenue report. The Macau-based casino operator has soared to new heights based on the latest numbers.
According to the report, Galaxy Entertainment registered a whopping 254% increase in revenue. Its comprehensive revenue review further emphasizes the promising outlook. The operator reached 35.7 billion Hong Kong dollars, equivalent to 4.58 billion US dollars.
Compared to 2022’s 13.7 billion Hong Kong dollars, equivalent to 1.75 billion US dollars, the company managed to score 260% yearly growth. As there are various online casinos in the industry and to stand out from them is the big thing. It is worth noting that GEG’s growth goes beyond revenue alone.
The casino operator recorded its adjusted EBITDA at 2.8 billion Hong Kong dollars, equal to 358.7 million US dollars. In 2022 Q4, the adjusted EBITDA amounted to 163 million Hong Kong dollars, equal to 20.8 million US dollars.
GEG’s premium casino, Galaxy Macau, played a crucial part in helping the operator reach such numbers. The outlet alone witnessed a stunning 347% yearly revenue growth in 2023 Q4. Its staggering rise is indicative of Macau’s uprising tourism sector as well.
According to GEG, this newfound success can be accounted for by several factors. Some of them are pent-up tourism demand, increased diversity, the removal of travel restrictions, etc. Galaxy Entertainment has actively participated in creating new shopping, non-gaming, and entertainment experiences for customers.
Thus, it is evident that GEG’s hard work is finally paying off. The casino operator is going as far as announcing a special dividend payout to company shareholders. The decision has solidified GEG’s commitment to rewarding loyalty and financial stability.
Although Macau’s gaming industry is yet to reach its peak, it is clear that GEG will be a pivotal part of the region’s success. Its latest success is a strong indicator that Galaxy Entertainment is capable of diversity and adaptability.
