Xin Lang Cai Jing·2026-02-26 04:31Core Viewpoint - Galaxy Entertainment Group reported a net revenue of HKD 49.2 billion for the fiscal year ending December 31, 2025, representing a 13% year-on-year increase [1] Financial Performance - Adjusted EBITDA for the group was HKD 14.5 billion, up 19% year-on-year [1] - The gaming business's net win rate was high, contributing an additional HKD 1.482 billion to adjusted EBITDA, which would normalize to HKD 13 billion, reflecting a 5% year-on-year increase [1] - Shareholders' profit attributable to the group was HKD 10.7 billion, a 22% increase year-on-year, with a proposed final dividend of HKD 0.80 per share [1] Quarterly Performance - In Q4, the group achieved a net revenue of HKD 13.8 billion, a 22% year-on-year increase and a 14% quarter-on-quarter increase [1] - Adjusted EBITDA for Q4 was HKD 4.3 billion, up 33% year-on-year and 29% quarter-on-quarter [1] - The high net win rate in Q4 added approximately HKD 731 million to adjusted EBITDA, which would normalize to HKD 3.6 billion, showing a 9% year-on-year and 7% quarter-on-quarter increase [1] Strategic Focus - The company continues to drive growth across its business segments, particularly focusing on the premium mass and ultra-high-end mass markets [1] - The opening of the Capella resort is set for trial operations in May 2025 and official opening on February 10, 2026, aimed at capturing a larger share of the ultra-high-end market [1]