Core Viewpoint - Galaxy Entertainment Group reported a 14% year-on-year increase in net revenue to HKD 12.2 billion for the third quarter of 2025, with adjusted EBITDA rising 14% to HKD 3.3 billion, despite challenges from seasonal factors and a typhoon impacting operations [2][11][14]. Financial Performance - The group achieved a net revenue of HKD 12.2 billion for Q3 2025, up 14% year-on-year and 1% quarter-on-quarter [11][14]. - Adjusted EBITDA for Q3 2025 was HKD 3.3 billion, reflecting a 14% increase year-on-year but a 6% decrease quarter-on-quarter [11][14]. - The adjusted EBITDA normalized after accounting for high net win rates was HKD 3.3 billion, up 7% year-on-year and 5% quarter-on-quarter [11][14]. Operational Highlights - The group maintained a strong balance sheet with cash and liquid investments totaling HKD 36.8 billion, resulting in a net amount of HKD 34.8 billion after deducting liabilities [3][22]. - The average hotel occupancy rate for nine hotels in Q3 2025 was 98% [24]. - The group hosted approximately 260 entertainment, sports, arts, and cultural events in the first nine months of 2025, contributing to a 41% year-on-year increase in visitor traffic to "Galaxy Macau" [3][12]. Strategic Developments - The group is advancing the fourth phase of its renovation project, which includes high-end hotel brands, a theater with approximately 5,000 seats, and various non-gaming facilities, aiming for completion by 2027 [6][35]. - A strategic partnership with UFC has been established to bring UFC events to Galaxy Arena, alongside a three-year collaboration with Tencent Music for diverse music events [4][41]. Market Overview - Macau's total gaming revenue for Q3 2025 was HKD 60.7 billion, a 13% year-on-year increase, with visitor arrivals reaching 10.5 million, up 14% year-on-year [12][19]. - The group continues to focus on diversifying its non-gaming business through major entertainment events, supporting Macau's goal of becoming a "City of Entertainment" [3][41].

Core Viewpoint - Galaxy Entertainment Group reported a net revenue of HKD 12.2 billion for Q3 2025, representing a year-on-year increase of 14% and a quarter-on-quarter increase of 1% [1] Financial Performance - Adjusted EBITDA for the group was HKD 3.3 billion, up 14% year-on-year but down 6% quarter-on-quarter [1] - Adjusted EBITDA for "Galaxy Macau™" reached HKD 3.1 billion, marking a 20% increase year-on-year but an 8% decrease quarter-on-quarter [1] - Adjusted EBITDA for the StarWorld Hotel was HKD 369 million, down 7% year-on-year but up 22% quarter-on-quarter [1] - Adjusted EBITDA for "Broadway Macau™" was HKD 1 million, compared to HKD 11 million in Q3 2024 and HKD 4 million in Q2 2025 [1] - Over the past twelve months, the group's adjusted EBITDA totaled HKD 13.4 billion, reflecting a 14% year-on-year increase and a 3% quarter-on-quarter increase [1] Gaming Operations - In Q3 2025, the gaming business experienced a higher net win rate, contributing an additional HKD 14 million to adjusted EBITDA [1] - After normalizing the net win rate, the adjusted EBITDA was HKD 3.3 billion, which is a 7% increase year-on-year and a 5% increase quarter-on-quarter [1]

Core Viewpoint - Galaxy Entertainment Group reported a net revenue of HKD 12.2 billion for Q3 2025, representing a 14% year-on-year increase and a 1% quarter-on-quarter increase [1] Financial Performance - Adjusted EBITDA for the group was HKD 3.3 billion, up 14% year-on-year but down 6% quarter-on-quarter [1] - Adjusted EBITDA for "Galaxy Macau™" reached HKD 3.1 billion, marking a 20% year-on-year increase and an 8% quarter-on-quarter decrease [1] - Adjusted EBITDA for the Galaxy StarWorld Hotel was HKD 369 million, down 7% year-on-year but up 22% quarter-on-quarter [1] - Adjusted EBITDA for "Broadway Macau™" was HKD 1 million, compared to HKD 11 million in Q3 2024 and HKD 4 million in Q2 2025 [1] - Over the past twelve months, the group's adjusted EBITDA totaled HKD 13.4 billion, reflecting a 14% year-on-year increase and a 3% quarter-on-quarter increase [1] Gaming Operations - In Q3 2025, the gaming business's net win rate was higher than normal, contributing an additional HKD 14 million to adjusted EBITDA [1] - After normalizing the net win rate, adjusted EBITDA was HKD 3.3 billion, which is a 7% year-on-year increase and a 5% quarter-on-quarter increase [1]