Core Viewpoint - Morgan Stanley has upgraded its forecast for the Macau gaming industry for the third time in three months, indicating a positive outlook for the sector [1] Company Summaries - Galaxy Entertainment's target price has been raised from HKD 42 to HKD 53, maintaining an "Overweight" rating [1] - MGM China’s target price increased from HKD 15 to HKD 23, also with an "Overweight" rating [1] - Sands China’s target price has been adjusted from HKD 18 to HKD 24.5, retaining an "Overweight" rating [1] - SJM Holdings' target price rose from HKD 2.2 to HKD 3, with a "Neutral" rating [1] - Melco International's target price increased from HKD 2.6 to HKD 4.5, but the rating is "Underweight" [1] Industry Insights - The total gaming revenue (GGR) is projected to grow by 13% in the second half of 2025, with a 4% increase in the first half [1] - Strong cash flow is expected to drive EBITDA growth, with forecasts of a 12% increase in Q3 and a 16% increase in Q4, surpassing market expectations [1] - Continuous positive revisions and normalization of price-to-earnings multiples suggest a potential average stock price increase of approximately 35% for the industry [1]

业绩受新酒店项目独家预览和银河综艺馆的演唱会带动，录得强劲表现和单日客流新高。公司财务状况 稳健，现金及流动投资达307亿港元。董事会宣布派发每股0.70港元的中期股息。 银河娱乐公布2025年上半年业绩，净收益为232亿港元，同比上升8%；经调整EBITDA为69亿港元，同 比上升14%。第二季度净收益120亿港元，同比及环比均增长。 ...

Core Viewpoint - Galaxy Entertainment Group reported a net revenue of HKD 23.2 billion for the first half of 2025, representing an 8% year-on-year increase [1] Financial Performance - Adjusted EBITDA for the first half of 2025 was HKD 6.9 billion, an increase of 14% compared to the previous year [1] - In the second quarter, net revenue reached HKD 12 billion, marking a 10% year-on-year increase and an 8% quarter-on-quarter increase [1] - Adjusted EBITDA for the second quarter was HKD 3.6 billion, up 12% year-on-year and 8% quarter-on-quarter [1] Operational Highlights - The new luxury hotel project, Galaxy Macau Capella, provided exclusive previews in May, contributing to strong performance during the Golden Week [1] - The Galaxy Arena hosted performances by popular artists G-Dragon and Jacky Cheung in June, leading to a record daily footfall of over 123,000 visitors at Galaxy Macau [1] Financial Stability - As of June 30, 2025, the company maintained a robust balance sheet with cash and liquid investments totaling HKD 30.7 billion and very low debt levels [1] - The strong financial position enables the company to fund its development plans, explore overseas expansion opportunities, and distribute dividends to shareholders [1] - The board announced an interim dividend of HKD 0.70 per share, which will be distributed in October 2025, following the previously declared final dividend of HKD 0.50 per share paid in June [1]

Core Viewpoint - Galaxy Entertainment (00027) reported a mid-term performance for the six months ending June 30, 2025, showing a revenue of HKD 23.246 billion, an increase of 8.27% year-on-year, and a net profit attributable to shareholders of HKD 5.24 billion, up 19.44% year-on-year [1] Group 1: Financial Performance - Revenue for the first half of 2025 was HKD 23.246 billion, reflecting an 8.27% increase compared to the previous year [1] - Net profit attributable to shareholders reached HKD 5.24 billion, marking a year-on-year increase of 19.44% [1] - Basic earnings per share were HKD 1.198 [1] Group 2: Dividend and Contributions - The company proposed an interim dividend of HKD 0.7 per share [1] - "Galaxy Macau" was identified as the largest source of revenue and profit for the group, with net revenue of HKD 19.1 billion in the first half of 2025, representing a 13% year-on-year increase [1] Group 3: Adjusted EBITDA - Adjusted EBITDA for the first half of 2025 was HKD 6.3 billion, an 18% increase year-on-year [1] - The high net win rate in the gaming business of "Galaxy Macau" contributed approximately HKD 755 million to the increase in adjusted EBITDA [1] - After normalizing the net win rate, the adjusted EBITDA for the first half of 2025 would be HKD 5.6 billion, reflecting a 3% year-on-year increase [1]

银河娱乐上半年营收232亿港元，同比上升8%，净利润52.4亿港元，同比上升19%。 本文源自：金融界AI电报 ...

公告称，"澳门银河™"为集团最大的收益及盈利贡献来源。于2025年上半年，净收益为191亿港元，按 年上升13%。经调整EBITDA为63亿港元，按年上升18%。于2025年上半年，由于"澳门银河™"博彩业 务净赢率偏高，令经调整EBITDA增加约7.55亿港元。净赢率正常化后，2025年上半年经调整EBITDA 为56亿港元，按年上升3%。 智通财经APP讯，银河娱乐(00027)发布截至2025年6月30日止六个月的中期业绩，收益232.46亿港元， 同比增加8.27%;股东应占溢利52.4亿港元，同比增加19.44%;每股基本盈利119.8港仙;拟派发中期股息每 股0.7港元。 ...

格隆汇8月12日｜银河娱乐公布，二零二五年上半年，集团录得净收益为232亿港元，按年上升8%；经 调整EBITDA为69亿港元，较去年增加14%。第二季度，集团净收益为 120亿港元，按年增加10%，按 季增加8%；经调整EBITDA为36亿港元，按年升12%，按季升8%。银娱的最新酒店项目——极致奢华 的澳门银河嘉佩乐已于五月提供独家预览，为集团在黄金周期间录得强劲表现作出贡献。于六月，银河 综艺馆带来了韩国流行歌星G-Dragon和香港著名歌手张学友的演出，促使澳门银河™创下单日客流量 超过12.3万人次的新高。 来源：格隆汇APP ...

EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 銀河娛樂集團有限公司 | | 股份代號 | 00027 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 宣佈派發中期股息 | | 公告日期 | 2025年8月12日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.7 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.7 HKD | | 匯率 | 1 HKD : 1 HKD | | 除淨日 | 2025年 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 GALAXY ENTERTAINMENT GROUP LIMITED 銀河娛樂集團有限公司 （於香港註冊成立之有限公司） （股份代號：27） 截至二零二五年六月三十日止六個月 之中期業績公佈 銀河娛樂集團有限公司（「銀娛」或「本公司」）主席的信 我很高興向大家報告澳門市場及銀娛在二零二五年第二季度及上半年的穩健表現。儘管面對 全球關稅糾紛、經濟持續放緩及區域競爭等因素，整體澳門市場於二零二五年第二季度表現 仍然強韌，博彩收益總額按年增長 8%，按季增長 6%，達到 593 億港元。銀娛在競爭激烈的 市場環境下，取得穩健的表現，市場佔有率亦上升。我們成功推動各項業務板塊的發展，特 別是高端中場。 二零二五年上半年，集團錄得淨收益為 232 億港元，按年上升 8%。經調整 EBITDA 為 69 億 港元，較去年增加 14%。第二季度，集團淨收益為 120 億港元，按年增加 10%，按季增加 8%。經調整 ...

Group 1 - The core viewpoint of the article highlights the overall increase in Hong Kong's gaming stocks, with specific companies like MGM China, Sands China, and Galaxy Entertainment showing notable gains [1] - Citigroup's research report indicates that the high-end gaming turnover in Macau rose by 5% year-on-year to 1.34 billion HKD in August, while the number of high-end players decreased by 5% to 624, suggesting a 10% increase in per capita betting amount to 21,543 HKD, marking four consecutive months of double-digit growth [1] - Galaxy Entertainment leads the market with approximately 34% share of high-end gaming turnover, followed by Sands China at about 23%, reflecting the appeal of the Capella Hotel and Eason Chan's concert to high rollers [1] Group 2 - The article notes that MGM China, Sands China, and Galaxy Entertainment have implemented various strategies and new betting options to attract customers [1] - The stock performance of several gaming companies is detailed, with MGM China up by 2.07%, Sands China by 1.96%, and Galaxy Entertainment by 1.16% [1] - The overall trend indicates a positive outlook for the gaming sector in Hong Kong, driven by increased spending from high-end gamblers despite a decline in their numbers [1]