Q3 2025 Galaxy Entertainment Group Ltd Earnings Call Transcript

Nov 06, 2025 / 08:30AM GMT

Release Date Price: $5.25 (-0.30%)

Transcript

Key Points

Positve

Galaxy Entertainment Group Ltd (GXYEF) reported a 14% year-on-year increase in net revenues for Q3 2025, reaching HKD 12.2 billion.
Macau's visitation grew by 14% year-on-year, surpassing pre-COVID levels, which contributed to the company's strong performance.
The company's mass gaming revenue recovered strongly, reaching 129% of 2019 levels, driven by diverse entertainment offerings and targeted marketing strategies.
Galaxy Entertainment Group Ltd (GXYEF) maintains a healthy balance sheet with total cash and liquid investments of HKD 36.8 billion and net cash of HKD 34.8 billion.
The company hosted approximately 260 entertainment, sports, arts, and culture events in the first three quarters, contributing to a 41% year-on-year increase in foot traffic.

Negative

The typhoon Ragaza forced all casinos to shut down for 33 hours, resulting in a significant impact on revenue and EBITDA.
Adjusted EBITDA for Q3 2025 was down 6% quarter-on-quarter due to unusually favorable luck in the previous quarter.
The company's expansion plans in Thailand are uncertain due to a change in government priorities.
Galaxy Entertainment Group Ltd (GXYEF) faces intense competition in Macau, which remains a highly competitive market.
Operational expenses increased by 9% quarter-on-quarter, partly due to one-off marketing costs during the summer.

Operator

Thank you for holding and welcome to the Galaxy Entertainment Group's management update for the 3rd quarter results of 2025. Joining us today are Galaxy Entertainment Group's Chief Financial Officer, Mr. Ted Chan, Mr. Tom Moassi, and Mr. Peter Cavanney, Assistant senior Vice President of Investor relations. At this time, all participants' lines are in listen-only mode. The presentation will be followed by the question-and-answer session, and instructions will be provided at that time. I would now like to pass to Mr. Chan for his remarks. Mr. Chan, please go ahead.

Thank you.

Ted Chan

Galaxy Entertainment Group Ltd - Chief Financial Officer

Thank you, operator. Good afternoon, everyone, and thank you for joining us for the update call on GEG's Q3 2025 results. With me today is Peter Capney, and also joining us is Tom Amarasi, our newly appointed CFO. Welcome, Tom.

Firstly, I'd like to comment on GEG's Q3 performance, and then I'll ask Tom to say a few words and then followed by our Q&AA sessions.

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