花旗：银河娱乐第三季度业绩超出预期 给予公司买入评级

Core Viewpoint - Citigroup's research report indicates that Galaxy Entertainment's revenue in the third quarter increased by 11% year-on-year, reaching HKD 10.67 billion, with adjusted EBITDA growing by 6% to HKD 2.94 billion, exceeding expectations [1] Group 1: Financial Performance - Galaxy Entertainment's revenue for Q3 reached HKD 10.67 billion, reflecting an 11% year-on-year growth [1] - Adjusted EBITDA for the same period was HKD 2.94 billion, marking a 6% increase compared to the previous year [1] Group 2: Strategic Developments - The company management plans a significant upgrade to the Galaxy StarWorld Hotel, enhancing the main casino lobby and dining options [1] - Renovation progress at Galaxy Capella is on track, with the fourth phase development expected to include new luxury hotels, theaters, dining, and retail facilities, projected for completion in 2027 with a development area of approximately 600,000 square meters [1] Group 3: Events and Customer Engagement - Management noted that Andy Lau's concert at the Galaxy Arena attracted additional customers [1] - The upcoming UFC event in Q4 2024 is also anticipated to draw significant interest [1]