Xin Lang Cai Jing·2025-11-06 15:52Core Insights - Galaxy Entertainment reported a total gaming revenue of HKD 12.2 billion for Q3 2025, representing a year-on-year increase of 21% and a quarter-on-quarter increase of 2% [1] - The group's net revenue for Q3 2025 was HKD 12.2 billion, up 14% year-on-year and 1% quarter-on-quarter [1] - Mass gaming revenue totaled HKD 9.5 billion, reflecting a 13% year-on-year increase and a 7% quarter-on-quarter increase [1] - VIP gaming revenue reached HKD 2 billion, showing a significant year-on-year increase of 86%, but a quarter-on-quarter decline of 15% [1] - Slot machine gaming revenue amounted to HKD 738 million, with an 11% year-on-year increase and a 6% quarter-on-quarter decline [1] Financial Performance - The main revenue and profit contributor for the group was "Galaxy Macau™," which generated net revenue of HKD 10.1 billion in Q3 2025, up 20% year-on-year and 1% quarter-on-quarter [1] - Adjusted EBITDA for Q3 2025 was HKD 3.1 billion, reflecting a 20% year-on-year increase but an 8% quarter-on-quarter decline [1] - The high win rate in the "Galaxy Macau™" gaming business contributed an additional HKD 18 million to adjusted EBITDA [1] - After normalizing the win rate, adjusted EBITDA was HKD 3.1 billion, representing an 11% year-on-year increase and a 5% quarter-on-quarter increase [1]