From GlobeNewswire: 2025-02-27 05:15:28

Galaxy Entertainment Group (“GEG”) reported strong results for Q4 and full year 2024, with Group Adjusted EBITDA up 15% YoY and up 10% QoQ to $3.2 billion for Q4 and up 22% YoY to $12.2 billion for the full year. The Group’s NPAS was up 28% YoY to $8.8 billion. GEG recommended a final dividend of $0.50 per share, demonstrating confidence in Macau’s future. The company continues to focus on non-gaming diversification, entertainment events, and live sports to drive growth. The balance sheet remains healthy and liquid, with cash and liquid investments of $31.3 billion and a net position of $27.1 billion after debt.

In 2024, GEG saw an increase in international visitor arrivals to Macau, with entertainment events playing a significant role in attracting customers. The Galaxy International Convention Center and Galaxy Arena hosted numerous major events, including concerts, UFC, and ITTF World Cup, among others. Looking ahead to 2025, GEG plans to host a number of major sporting and entertainment events, including concerts by Andrea Bocelli and Jacky Cheung. The company is well-positioned to capitalize on the trend of increased entertainment in Macau.

Galaxy Macau™ remains a primary driver of group earnings, with net revenue up 24% YoY to $34.5 billion and Adjusted EBITDA up 18% YoY to $10.8 billion in 2024. In Q4, net revenue was $9.1 billion, up 12% YoY, and Adjusted EBITDA was $2.8 billion, up 11% YoY. StarWorld Macau also saw growth, with net revenue up 15% YoY to $5.3 billion and Adjusted EBITDA up 24% YoY to $1.6 billion in 2024. The company continues to make property upgrades and enhancements to its resorts to attract guests and improve guest experience.



Read more at GlobeNewswire: Galaxy Entertainment Group Reports Q4 & Annual 2024