• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 30 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Galaxy Entertainment Group’s Macau market share believed to be nearing 20% in Q3 to date

Ben Blaschke by Ben Blaschke
Fri 16 Aug 2024 at 06:43
Francis Lui – Guardian of the Galaxy

Galaxy Macau

34
SHARES
838
VIEWS
Print Friendly, PDF & Email

Galaxy Entertainment Group was Macau’s biggest market share gainer in the June 2024 quarter and claimed even more through the month of July, investment bank JP Morgan said Thursday.

According to a note following release of GEG’s 2Q24 financial results, which saw the company report a 7.4% sequential increase in gross gaming revenue to HK$10.3 billion (US$1.32 billion) and 12.0% increase in Adjusted EBITDA to HK$3.18 billion (US$408 million) – market share jumped from 17.3% in Q1 to 18.9% in Q2, including gains in both mass and VIP.

However, JP Morgan analysts said they estimate share edged up further to around 19.5% in 3Q24 to date, “which should serve as some cushion for industry-wide uncertainty amid a frustratingly poor macro/consumption backdrop.”

The improvement comes on the back of the recent opening of new gaming space and the completion of upgrade works at Galaxy Macau, although the company’s market share still lags the 21% share it enjoyed in 2019. Sands China continues to lead the way in Macau with market share of around 25% in 2Q24.

JP Morgan said GEG exceeded wider market performance in Q2, with its mass GGR up 7% versus flat industry-wide growth and VIP GGR up 20% versus industry growth of between 15% and 20%.

“We upgrade Galaxy from Neutral to OverWeight following its sizable underperformance year-to-date, with a June 2025 price target of HK$43 that suggests 45%+ potential upside,” the analysts said.

“We admit investment sentiment for Macau remains extremely bearish, but we feel Galaxy can offer something for both long-only and hedge-fund investors, especially at a price.

“Galaxy is now one of our two top picks in Macau, alongside MGM China.”

RelatedPosts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

Thu 28 Aug 2025 at 19:09
IAG names Grand Lisboa Palace Resort Macau as venue and SJM Resorts S.A. as Venue Sponsor for 2025 Power 50 Black Tie Gala Dinner

SJM reports widened 1H25 loss despite GGR growing almost 12% to US$1.90 billion

Thu 28 Aug 2025 at 18:54
Capital Punishment

SJM to relocate satellite casino gaming tables, slot machines to Macau’s famous Hotel Lisboa as part of US$68 million deal with parent company STDM

Thu 28 Aug 2025 at 17:35
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
Load More
Tags: Galaxy Entertainment GroupGalaxy MacauMacaumarket share
Share14Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

All your sports entertainment with SABA Sports – always fair and sharp since 1998.

All your sports entertainment with SABA Sports – always fair and sharp since 1998.

by Newsdesk
Fri 29 Aug 2025 at 18:57

CLIENT PROMOTION Since 1998, SABA Sports has stood as the trusted backbone of the world’s most respected sports betting brands. Built on real-time intelligence and operational excellence, we have earned our reputation as the definitive partner for leading operators worldwide....

Newly appointed Thai PM Paetongtarn Shinawatra expected to continue pursuit of legalized casinos

Thai casino bill dead in the water as Constitutional Court removes Prime Minister Paetongtarn Shinawatra from office

by Ben Blaschke
Fri 29 Aug 2025 at 18:44

Thai Prime Minister Paetongtarn Shinawatra has been removed from office for ethics violations after the Constitutional Court ruled 6-3 against her on Friday. She becomes Thailand’s sixth Prime Minister to be removed by a court or legal ruling since 2008...

Australia’s Star Entertainment Group says available cash halved in December 2024 quarter as liquidity crunch bites again

Star Entertainment Group falls to AU$471.5 million loss in FY25 as remediation, regulatory hurdles continue to bite

by Ben Blaschke
Fri 29 Aug 2025 at 07:38

Australia’s Star Entertainment Group has reported a statutory loss of AU$471.5 million (US$308 million) for the financial year ended 30 June 2025, impacted by a 29% year-on-year decline in group-wide revenue including a 37% fall in gaming revenue. Although the...

Resorts World Las Vegas – Lighting up the north

Recovery of VIP gaming business helps Genting’s Resorts World Las Vegas book improved revenues of US$180 million in 2Q25

by Ben Blaschke
Fri 29 Aug 2025 at 05:30

Resorts World Las Vegas (RWLV), the US flagship of Malaysian gaming giant Genting Berhad, saw revenues grow by 8% quarter-on-quarter to US$180 million and EBITDA by 80% to US$18 million in 2Q25, with the company pointing to improved hold and...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English