Galaxy Entertainment Reports Higher 2025 EBITDA And Confirms Phase 4 Macau Expansion

Galaxy Entertainment Group Ltd, a Macau based casino operator listed on the Hong Kong Stock Exchange, released financial results showing growth in both quarterly and full year performance while outlining plans for further development at its Cotai flagship resort.

Good to Know

• Fourth quarter 2025 EBITDA reached nearly HKD4.30 billion, up 32.7 percent year on year.
• Company declared a final dividend of HKD0.80 per share, with total 2025 dividends at HKD1.20 per share.
• Cash and liquid investments stood at HKD36.3 billion with relatively low debt of HKD1.3 billion.

Core Properties Continue To Drive Revenue Growth In Macau

Operations at Galaxy Macau, StarWorld Hotel, and Broadway Macau remained the backbone of revenue. Gross gaming revenue for the final three months of 2025 climbed 26.5 percent to HKD13.95 billion, while quarterly net revenue rose 22.5 percent to HKD13.83 billion.

Full year figures reflected the same trajectory. Net revenue reached HKD49.24 billion, a 13.4 percent increase, and net profit hit HKD10.67 billion, up 21.9 percent compared with the prior year. Adjusted EBITDA for the year totaled HKD14.50 billion, improving 19 percent.

Leadership Points To Premium Mass Strategy As Key Driver

Francis Lui Yiu Tung, chairman of Galaxy Entertainment Group, said:

“We continued to drive growth across every segment of the business, with a particular focus in the premium mass and the super-premium mass segment.”

Management has leaned heavily into that customer tier, describing it as a high value segment that now contributes a large share of mass market revenue.

Kevin Kelley, Chief Operating Officer Macau, explained that premium mass play can generate between 35 percent and 50 percent of overall mass market revenue, with customers demanding more tailored hospitality, retail, and dining experiences alongside gaming.

Capella Opening Adds Ultra Luxury Inventory To Cotai Portfolio

The newly opened Capella at Galaxy Macau became a centerpiece of that strategy. The 17 storey property offers 95 suites and penthouses and began operations in early 2026 following a soft launch in May 2025.

Lui said:

“Capella soft launched in May 2025 and officially opened on 10 February 2026. With its ultra-luxury room product, Capella has allowed us to capture the super-premium mass segment more effectively at scale, further reinforcing our leadership in this high-value market.”

Phase 4 Plans Adjust Room Count While Increasing Luxury Positioning

Development attention has now shifted to Phase 4 of Galaxy Macau, scheduled for completion in 2027. Plans include several hotel brands new to Macau, a 5,000 seat theatre, expanded retail, and a large water resort deck.

Room count has been reduced to about 1,350 from an earlier estimate of 1,500. Executives said customer feedback favored fewer but larger rooms with more amenities rather than higher density.

Strong Balance Sheet Supports Expansion And Shareholder Returns

The company highlighted liquidity as a major advantage. With HKD36.3 billion in cash and investments, Galaxy said it can fund construction, return capital to shareholders, and evaluate overseas opportunities without straining finances.

Lui said the balance sheet “remains healthy and liquid,” adding that financial strength provides resilience during economic uncertainty.

Overseas Projects Remain Under Consideration Including Japan

Executives indicated willingness to revisit international expansion if the right project appears. Japan was described as an appealing long term market, particularly with another round of integrated resort discussions expected later in the decade.

Lui said:

“We always have that ambition, and in terms of capital, if there are good projects, we can work with the respective local governments and present to them our healthy balance sheet.”

Interest has also been monitored in regions such as Southeast Asia, although shifting political dynamics in Thailand could delay any movement there.

FAQ

How much did Galaxy Entertainment earn in fourth quarter 2025?

Adjusted EBITDA came in at just under HKD4.30 billion, representing a 32.7 percent increase from a year earlier.

What is Phase 4 of Galaxy Macau?

Phase 4 is a major expansion planned for 2027 that will add new hotels, entertainment space, retail, and resort style attractions.

Why is the company targeting premium mass players?

Management sees that segment as delivering higher spending across gaming, hospitality, and retail with more stable long term demand.

Does Galaxy Entertainment plan to expand outside Macau?

Executives said overseas investment could be considered if suitable opportunities arise, with Japan viewed as an attractive potential market.

The post Galaxy Entertainment Reports Higher 2025 EBITDA And Confirms Phase 4 Macau Expansion appeared first on iGaming.org.