银河娱乐(00027) - 2018 - 年度财报

Business Strategy and Expansion - Galaxy Entertainment Group aims to become Asia's leading gaming and entertainment company, leveraging its understanding of local markets and Chinese culture as a competitive advantage[6]. - The group operates three flagship projects in Macau: Galaxy Macau™, Broadway Macau™, and StarWorld Hotel, with Galaxy Macau™ being one of the largest integrated resorts globally, covering 1 million square meters[12][13]. - The company is expanding its footprint with plans for the third and fourth phases of development, which will add another 1 million square meters[16]. - Galaxy Entertainment has made strategic investments, including a stake in the Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco, and is exploring overseas development opportunities, including in Japan[16]. - The group holds the largest contiguous land reserve in Cotai, positioning itself to capitalize on long-term growth in the tourism and leisure industry in China and Asia[33]. - The company is exploring potential opportunities in overseas markets, including Japan[18]. Financial Performance - Net revenue increased by 14% year-on-year to HKD 55.211 billion[19]. - Adjusted EBITDA rose by 19% year-on-year to HKD 16.857 billion[19]. - Shareholders' profit attributable increased by 29% year-on-year to HKD 13.507 billion[20]. - Non-gaming revenue increased by 8% year-on-year to HKD 5.298 billion[19]. - The total assets increased to HKD 87.384 billion in 2018 from HKD 83.815 billion in 2017[20]. - Cash and liquid investments reached HKD 45.837 billion as of December 31, 2018[20]. - The total net revenue for the year 2018 was HKD 39,491 million, an increase from HKD 34,983 million in 2017[54]. - The adjusted EBITDA for 2018 was HKD 12,871 million, up 17% from HKD 11,130 million in 2017[54]. - The total gaming revenue for 2018 reached HKD 48,251 million, compared to HKD 41,566 million in 2017, reflecting a growth of 16%[54]. Gaming and Tourism Trends - In 2018, the total gaming revenue in Macau increased by 14% year-on-year to HKD 294 billion, with the number of visitors rising by 10% to 35.8 million[33]. - The average length of stay for overnight visitors in Macau increased to 2.2 days, indicating a positive trend in tourism[33]. - The occupancy rate of five hotels approached 100% in 2018[21]. - The total number of visitors to Macau in 2018 was 35.8 million, a 10% increase year-on-year, with overnight visitors accounting for 52% of total arrivals[46]. Corporate Social Responsibility - The company established the Galaxy Entertainment Group Foundation with an investment of HKD 1.3 billion to support youth education and development in Macau and mainland China[16]. - Galaxy Entertainment Group has maintained a strong focus on corporate social responsibility, receiving multiple accolades for its community engagement efforts[35]. - Galaxy Entertainment Group has organized nearly 200 volunteer activities, serving over 120 charitable organizations and providing more than 10,000 hours of community service[84]. - The company has committed to funding 300 users for a new outdoor "Safe Passage" service for three years, promoting community integration and making Macau a senior-friendly city[86]. - Galaxy Entertainment Group donated MOP 400,000 to the Macau Society for the Prevention of Cruelty to Animals to support its ongoing animal rescue efforts[87]. Awards and Recognition - Galaxy Entertainment Group received multiple awards in 2018, including the "Best Investor Relations Program" and "Best Corporate Governance" from Institutional Investor magazine[34]. - The restaurant "8½ Otto e Mezzo BOMBANA" was awarded a Michelin star and recognized as one of the best Italian restaurants in Macau in 2019[38]. - "Macau Galaxy™" was named the "Best Integrated Resort" at the 11th International Gaming Awards in 2018[34]. - The company achieved recognition for its environmental performance, receiving the "Outstanding Environmental Disclosure Award" from the Hong Kong ESG Reporting Awards[35]. - Galaxy Entertainment Group's "Macau Broadway™" won the "Macau Business Awards" in 2018 for its excellence in business practices[35]. Environmental Sustainability - The company’s commitment to environmental sustainability includes reducing greenhouse gas emissions and optimizing resource usage across all operations[117]. - In 2018, the total greenhouse gas emissions amounted to 301,446 tons of CO2 equivalent, a decrease from 320,919 tons in 2017, representing a reduction of approximately 6.5%[123]. - The company has committed to enhancing its environmental performance by implementing various energy-saving measures, including the installation of solar systems and energy management training for over 20 employees[121]. - The company introduced electric buses for passenger transport, becoming the first gaming operator to do so, in line with the government's clean energy goals[120]. Employee Engagement and Welfare - The group has maintained a workforce of approximately 21,000 employees across its global operations, with a balanced gender ratio[97]. - Galaxy Entertainment Group provided a total training hours of 1,102,541, averaging 53 hours per employee[109]. - The company implemented a flexible work plan to promote work-life balance and meet employee needs[103]. - The company has organized various social and recreational activities for employees, fostering team spirit and camaraderie[100]. - The company emphasizes local supplier engagement, with most suppliers being local SMEs, to stimulate economic growth in Macao[116]. Governance and Compliance - The company has a balanced corporate governance system that adheres to the Hong Kong Stock Exchange's corporate governance code, ensuring high transparency and accountability to shareholders[150]. - The board of directors includes key members such as Dr. Lui Che-woo (Chairman) and Mr. Lui Yiu-tung (Vice Chairman)[194]. - The company has implemented a director and officer liability insurance policy to cover claims arising from business activities[157]. - The audit committee is responsible for overseeing the financial reporting process and risk management systems, maintaining independent communication with external auditors[164]. - The company emphasizes timely and transparent communication with shareholders and investors, adhering to a shareholder communication policy[180].