{"id":2300845,"date":"2026-02-26T08:54:06","date_gmt":"2026-02-26T08:54:06","guid":{"rendered":"https:\/\/celebrity.land\/en\/?p=2300845"},"modified":"2026-02-26T08:54:06","modified_gmt":"2026-02-26T08:54:06","slug":"galaxy-entertainment-group-reports-q4-annual-2025","status":"publish","type":"post","link":"https:\/\/celebrity.land\/en\/galaxy-entertainment-group-reports-q4-annual-2025\/","title":{"rendered":"Galaxy Entertainment Group Reports Q4 & Annual 2025"},"content":{"rendered":"

<\/p>\n

\n

Leading Macau\u2019s Non-Gaming Diversification Through Mice, Entertainment Events and Live Sports<\/strong><\/p>\n

Q4 2025 Group Adjusted EBITDA<\/strong>
Up 33% YoY and Up 29% QoQ to $4.3 Billion<\/strong><\/p>\n

FY2025 Group Adjusted EBITDA <\/strong>
Up 19% YoY to $14.5 Billion\u00a0<\/strong><\/p>\n

FY2025 Group NPAS Up 22% YoY to $10.7 Billion <\/strong><\/p>\n

Recommends a Final Dividend of $0.80<\/strong> Per Share<\/strong><\/p>\n

Capella at Galaxy Macau Grand Opened on February 10<\/strong><\/p>\n

HONG KONG, Feb. 26, 2026 (GLOBE NEWSWIRE) — Galaxy Entertainment Group (\u201cGEG\u201d, \u201cCompany\u201d or the \u201cGroup\u201d) (HKEx stock code: 27) today reported results for the three-month and twelve-month periods ended 31 December 2025. (All amounts are expressed in HKD unless otherwise stated).<\/p>\n

Mr. Francis Lui, Chairman of GEG said,<\/strong><\/p>\n

\u201cIn 2025 Macau continued its post Covid recovery, with Gross Gaming Revenue (\u2018GGR\u2019) increasing 9% to $240.2 billion. During the year, the Central Government further increased flexibility for mainland visitors, including the one-trip-per-week visa for Zhuhai residents and the multiple-entry visa for Hengqin residents, which enables more frequent travel to Macau. As a result, total visitation to Macau increased 15% to 40.1 million, setting an all-time record for arrivals. Visitation from Mainland China increased at an even faster pace, rising 18% to 29.0 million. Equally significant, international visitor arrivals increased 14% to 2.8 million, also setting a new record for overseas visitation. GEG has been actively working with Macao Government Tourism Office (\u2018MGTO\u2019) to position Macau as a destination of choice, particularly across Asia. GEG remains fully committed to advancing this effort through our marketing teams and international offices in Seoul, Tokyo, Bangkok, and Singapore.<\/em><\/p>\n

Turning to GEG\u2019s performance, we continued to drive growth across every segment of the business, with a particular focus in the premium mass and the super-premium mass segment. Capella soft launched in May 2025 and officially opened on 10 February 2026. With its ultra-luxury room product, Capella has allowed us to capture the super-premium mass segment more effectively at scale, further reinforcing our leadership in this high-value market.<\/em><\/p>\n

From a financial perspective, GEG grew Adjusted EBITDA by 19% from $12.2 billion to $14.5 billion in 2025. Full year Net Profit Attributable to Shareholders (\u2018NPAS\u2019) grew 22% to $10.7 billion.<\/em><\/p>\n

Our balance sheet remains healthy<\/em> and<\/em> liquid,<\/em> with<\/em> cash<\/em> and<\/em> liquid<\/em> investments<\/em> of<\/em> $36.3<\/em> billion. This solid financial foundation, together with healthy cash flow from operations enables us to return capital to shareholders, fund our development pipeline, pursue international expansion opportunities and ensure that we have a strong balance sheet in the event of unforeseeable circumstances such as economic shocks. During 2025, we paid two dividends of $0.50 and $0.70, totaling $1.20 per share.<\/em> Today the Board recommends a final dividend of $0.80 per share. These dividends demonstrate our continued confidence in the longer-term outlook for Macau and for GEG.<\/em><\/p>\n

GEG continues to support the Macau Government’s goal to develop Macau into a \u2018City of Performing Arts\u2019 and \u2018City of Sports\u2019 by hosting world-class events across various categories. The Galaxy Arena and Galaxy International Convention Center (\u2018GICC\u2019) have been tremendously successful, with mega events driving a significant increase in customer traffic. In 2025, GEG hosted around 350<\/em> concerts, entertainment shows, sporting and major events. Highlights included world-class tenor Andrea Bocelli\u2019s concert in March, the ITTF World Cup in April, performances by G-Dragon, Jacky Cheung, and Eason Chan during summer, and the National Games in November which was the first time that they were jointly held in Macau. We also hosted the two-day iQIYI Scream Carnival which is an exclusive multi-year strategic partnership with Galaxy Arena. In addition, the \u20182025 Greater Bay Area Film and Music Gala \u2013 Bay Area Rising Moon\u2019, co-organized by the Film Channel Program Centre, the Cultural Affairs Bureau of the Macao SAR Government, Zijing Culture Group and Phoenix Television, was also successfully held at Galaxy Arena. These landmark events drew large audiences from both Mainland China and overseas markets, underscoring the power of entertainment to broaden Macau\u2019s appeal well beyond gaming. Each event not only strengthened the Galaxy brand but also generated incremental revenue across our resorts.<\/em><\/p>\n

Looking ahead, 2026 promises another exciting calendar of entertainment. We will continue our partnerships with leading global entertainment companies to present marquee concerts, while expanding our collaboration with UFC to bring thrilling UFC Fight Nights to the city. We have also renewed a three-year cooperation agreement with Damai Entertainment, a member of Alibaba Group, and Macau Pass to enhance our events ticketing services. Together, these initiatives will deepen customer loyalty, attract new audiences, and firmly establish Macau as Asia\u2019s premier destination for leisure and entertainment.<\/em><\/p>\n

GEG announced that Waldo Casino ceased operations on 31 October 2025. In alignment with Macau Government policies, GEG is committed to safeguarding local employment. In addition to being able to retain the same position, employees have also been offered the opportunity to explore a range of career paths if they wish to do so and they received support for their transition into a new working environment. <\/em><\/p>\n

Macau\u2019s 2025 Policy Address reaffirmed the importance of balancing reliance on gaming with diversified tourism and cultural development. In response, concessionaires continued to invest heavily in non-gaming facilities such as hotels, retail, family entertainment, and event venues, while also expanding international marketing. Together, these initiatives are helping Macau evolve into a globally competitive World Centre of Tourism and Leisure.<\/em><\/p>\n

Looking ahead to 2026, we remain firmly focused on accelerating Phase 4 development, enhancing the appeal of our existing resorts, and further expanding our non-gaming offerings \u2014 from mega shows to international events \u2014 to diversify Macau\u2019s offerings. We remain optimistic about GEG and the broader market landscape. We are confident that the Central Government will continue to support Macau through policies, and that the Macau Government will sustain its focus on stable development and economic diversification.<\/em><\/p>\n

On a final note, I would like to express my heartfelt appreciation to our team members who deliver \u2018World Class, Asian Heart\u2019 service each and every day. <\/em>Their professionalism and commitment have been instrumental in upholding GEG\u2019s reputation<\/em> and <\/em>driving the solid financial results we have achieved.<\/em>\u201d<\/em><\/p>\n\n\n
Q4 & FULL YEAR 2025 RESULTS HIGHLIGHTS<\/strong><\/p>\n

GEG: Well Positioned for Future Growth<\/strong><\/p>\n

    \n
  • Full Year Group Net Revenue of $49.2 billion, up 13% year-on-year<\/li>\n
  • Full Year Group Adjusted EBITDA of $14.5 billion, up 19% year-on-year<\/li>\n
  • Played lucky for FY2025 which increased Adjusted EBITDA by approximately $1,482 million, normalized FY2025 Adjusted EBITDA was $13.0 billion, up 5% year-on-year<\/li>\n
  • Full Year Group NPAS of $10.7 billion, up 22% year-on-year<\/li>\n
  • Q4 Group Net Revenue of $13.8 billion, up 22% year-on-year and up 14% quarter-on-quarter<\/li>\n
  • Q4 Group Adjusted EBITDA of $4.3 billion, up 33% year-on-year and up 29% quarter-on-quarter<\/li>\n
  • Played lucky in Q4 which increased Adjusted EBITDA by approximately $731 million, normalized Q4 Adjusted EBITDA was $3.6 billion, up 9% year-on-year and up 7% quarter-on-quarter<\/li>\n<\/ul>\n

    Galaxy Macau<\/strong>\u2122<\/strong>: Primary Driver to Group Earnings<\/strong><\/p>\n

      \n
    • Full Year Net Revenue of $41.0 billion, up 19% year-on-year<\/li>\n
    • Full Year Adjusted EBITDA of $13.4 billion, up 24% year-on-year<\/li>\n
    • Q4 Net Revenue of $11.8 billion, up 29% year-on-year and up 17% quarter-on-quarter<\/li>\n
    • Q4 Adjusted EBITDA of $4.0 billion, up 41% year-on-year and up 31% quarter-on-quarter<\/li>\n
    • Played lucky in Q4 which increased Adjusted EBITDA by approximately $729 million, normalized Q4 Adjusted EBITDA of $3.3 billion, up 15% year-on-year and up 8% quarter-on-quarter<\/li>\n
    • Hotel occupancy for Q4 across the nine hotels was 99%<\/li>\n<\/ul>\n

      StarWorld Macau: Continuing with Major Property Upgrades<\/strong><\/p>\n

        \n
      • Full Year Net Revenue of $5.0 billion, down 7% year-on-year<\/li>\n
      • Full Year Adjusted EBITDA of $1.4 billion, down 13% year-on-year<\/li>\n
      • Q4 Net Revenue of $1.3 billion, down 1% year-on-year and up 1% quarter-on-quarter<\/li>\n
      • Q4 Adjusted EBITDA of $356 million, down 2% year-on-year and down 4% quarter-on-quarter<\/li>\n
      • Played lucky in Q4 which increased Adjusted EBITDA by approximately $2 million, normalized Q4 Adjusted EBITDA of $354 million, down 5% year-on-year and down 5% quarter-on-quarter<\/li>\n
      • Hotel occupancy for Q4 was 100%<\/li>\n<\/ul>\n

        Broadway Macau\u2122, City Clubs and Construction Materials Division (\u201cCMD\u201d)<\/strong><\/p>\n

          \n
        • Broadway Macau\u2122: Full Year Adjusted EBITDA of $11 million, down 54% year-on-year Q4 Adjusted EBITDA was $4 million, versus $1 million in Q4 2024 and $1 million in Q3 2025<\/li>\n
        • City Clubs: Full Year Adjusted EBITDA of $(7) million, versus $14 million in 2024. Q4 Adjusted EBITDA was $(4) million, versus $(1) million in Q4 2024 and $(6) million in Q3 2025. Waldo Casino ceased operations on 31 October 2025<\/li>\n
        • CMD: Full Year Adjusted EBITDA of $877 million, up 2% year-on-year. Q4 Adjusted EBITDA was $248 million, down 10% year-on-year and up 20% quarter-on-quarter<\/li>\n<\/ul>\n

          Balance Sheet: Remained Healthy and Liquid<\/strong><\/p>\n

            \n
          • As at 31 December 2025, cash and liquid investments were $36.3 billion and the net position was $35.0 billion after debt of $1.3 billion<\/li>\n
          • Paid two dividends totaled $1.20 per share in 2025<\/li>\n
          • The GEG Board recommends a final dividend of $0.80 per share payable in June 2026<\/li>\n<\/ul>\n

            Development Update: Continue to ramp up Capella at Galaxy Macau, GICC, Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau; Progressing with Phase 4<\/strong> <\/p>\n

              \n
            • Cotai Phase 3 \u2013 Continue to ramp up Capella at Galaxy Macau, GICC, Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau<\/li>\n
            • Cotai Phase 4 \u2013 Our efforts are firmly focused on the development of Phase 4 which has a strong focus on non-gaming, primarily targeting entertainment, family facilities and also includes a casino<\/li>\n
            • International \u2013 Continuously exploring opportunities in overseas markets<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/table>\n

              Macau Market Overview<\/strong><\/p>\n

              Based on DICJ reporting, Macau\u2019s GGR for full year 2025 was $240.2 billion, up 9% year-on-year, and represented 85% of 2019 level. GGR in Q4 2025 was $64.1 billion, up 15% year-on-year and up 6% quarter-on-quarter.<\/p>\n

              In 2025, visitor arrivals to Macau were 40.1 million, up 15% year-on-year and exceeding the 2019 level of 39.4 million. Visitors from the Mainland were 29.0 million, up 18% year-on-year, with those traveling under the Individual Visit Scheme increasing by 26% year-on-year. Among the Mainland visitors, over 2.1 million travelled under the \u201cone trip per week measure\u201d and approximately 0.8 million under the \u201cmultiple-entry measure\u201d. Visitors from the nine Pearl River Delta cities in the Greater Bay Area rose by 24% year-on-year to 14.8 million, driven by an increase of 58% in the number of visitors from Zhuhai.<\/p>\n

              International visitors increased by 14% year-on-year to 2.8 million. Regarding the Asian markets, visitors from the Republic of Korea, Japan and Thailand grew by 11%, 26% and 38% year-on-year respectively.\u00a0GEG has been working with the MGTO to actively promote Macau as an international tourist destination. We will continue to advance this effort through our marketing teams and international offices in Tokyo, Seoul, Bangkok and Singapore.<\/p>\n

              Group Financial Results<\/strong><\/p>\n

              Full Year<\/em> 2025<\/em><\/p>\n

              The Group posted Net Revenue of $49.2 billion, up 13% year-on-year. Adjusted EBITDA was $14.5 billion, up 19% year-on-year. NPAS was $10.7 billion, up 22% year-on-year. Galaxy Macau\u2122\u2019s Adjusted EBITDA was $13.4 billion, up 24% year-on-year. StarWorld Macau\u2019s Adjusted EBITDA was $1.4 billion, down 13% year-on-year. Broadway Macau\u2122\u2019s Adjusted EBITDA was $11 million, down 54% year-on-year.<\/p>\n

              In 2025, GEG played lucky in its gaming operation which increased its Adjusted EBITDA by approximately $1.5 billion. Normalized Adjusted EBITDA was $13.0 billion, up 5% year-on-year.<\/p>\n

              <\/p>\n

              Summary table of GEG Q4 and full year 2025 Adjusted EBITDA and adjustments:<\/strong><\/p>\n\n\n\n\n\n

              in HK$’m<\/em><\/td>\n              		Q4
              2024<\/td>\n              		Q3
              2025<\/td>\n              		Q4<\/strong>
              2025<\/strong><\/td>\n              		YoY<\/strong><\/td>\nQoQ<\/strong><\/td>\n\u00a0<\/td>\nFY
              2024<\/td>\n              		FY<\/strong>
              2025<\/strong><\/td>\n              		YoY<\/strong><\/td>\n<\/tr>\n
              Adjusted EBITDA<\/strong><\/td>\n3,237<\/td>\n3,341<\/td>\n4,296<\/strong><\/td>\n33%<\/strong><\/td>\n29%<\/strong><\/td>\n\u00a0<\/td>\n12,188<\/td>\n14,502<\/strong><\/td>\n19%<\/strong><\/td>\n<\/tr>\n
              Luck1<\/sup><\/em><\/td>\n(35)<\/em><\/td>\n14<\/em><\/td>\n731<\/em><\/strong><\/td>\n–<\/em><\/strong><\/td>\n–<\/em><\/strong><\/td>\n\u00a0<\/td>\n(157)<\/em><\/td>\n1,482<\/em><\/strong><\/td>\n–<\/em><\/strong><\/td>\n<\/tr>\n
              Normalized Adjusted EBITDA<\/strong><\/td>\n3,272<\/td>\n3,327<\/td>\n3,565<\/strong><\/td>\n9%<\/strong><\/td>\n7%<\/strong><\/td>\n\u00a0<\/td>\n12,345<\/td>\n13,020<\/strong><\/td>\n5%<\/strong><\/td>\n<\/tr>\n<\/table>\n

              The Group\u2019s total GGR in 2025 was $49.1 billion, up 19% year-on-year. Mass GGR was $36.5 billion, up 10% year-on-year. VIP GGR was $9.5 billion, up 79% year-on-year. Electronic GGR was $3.1 billion, up 14% year-on-year.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
              Group Key Financial Data<\/strong><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              (HK$’m)<\/em>
              Revenues:<\/td>\n              		FY2024<\/td>\nFY2025<\/strong><\/td>\n<\/tr>\n
              Net Gaming<\/td>\n33,826<\/td>\n39,648<\/strong><\/td>\n<\/tr>\n
              Non-gaming<\/td>\n6,425<\/td>\n6,631<\/strong><\/td>\n<\/tr>\n
              Construction Materials<\/td>\n3,181<\/td>\n2,963<\/strong><\/td>\n<\/tr>\n
              Total Net Revenue<\/td>\n43,432<\/td>\n49,242<\/strong><\/td>\n<\/tr>\n
              Adjusted EBITDA<\/td>\n12,188<\/td>\n14,502<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Gaming Statistics<\/strong>2<\/strong><\/sup>
              (HK$’m)<\/em><\/td>\n              		\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\nFY2024<\/td>\nFY2025<\/strong><\/td>\n<\/tr>\n
              Rolling Chip Volume3<\/sup><\/td>\n180,879<\/td>\n227,631<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n2.9%<\/td>\n4.2<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n5,329<\/td>\n9,544<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Mass Table Drop4<\/sup><\/td>\n127,823<\/td>\n137,961<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n25.9%<\/td>\n26.5<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n33,112<\/td>\n36,512<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Electronic Gaming Volume<\/td>\n95,380<\/td>\n110,815<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n2.8%<\/td>\n2.8<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n2,704<\/td>\n3,082<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Total GGR Win5<\/sup><\/td>\n41,145<\/td>\n49,138<\/strong><\/td>\n<\/tr>\n<\/table>\n


              Balance Sheet and Dividends<\/em><\/p>\n

              The Group\u2019s balance sheet remains healthy and liquid. As of 31 December 2025, cash and liquid investments were $36.3 billion and the net position was $35.0 billion after debt of $1.3 billion. Our strong balance sheet combined with substantial cash flow from operations allows us to return capital to shareholders via dividends, fund our development pipeline, pursue our international expansion ambitions and ensure that we have a strong balance sheet in the event of unforeseeable circumstances such as economic shocks.<\/p>\n

              GEG paid two dividends of $0.50 and $0.70 per share in June and October 2025 respectively. Subsequently the GEG Board recommends a final dividend of $0.80 per share payable in June 2026. This attests to our confidence in Macau, our financial strength and our future earnings potential.<\/p>\n

              Q4 2025<\/em><\/p>\n

              The Group\u2019s Net Revenue was $13.8 billion, up 22% year-on-year and up 14% quarter-on-quarter. Adjusted EBITDA was $4.3 billion, up 33% year-on-year and up 29% quarter-on-quarter. Galaxy Macau\u2122\u2019s Adjusted EBITDA was $4.0 billion, up 41% year-on-year and up 31% quarter-on-quarter. StarWorld Macau\u2019s Adjusted EBITDA was $356 million, down 2% year-on-year and down 4% quarter-on-quarter. Broadway Macau\u2122\u2019s Adjusted EBITDA was $4 million, versus $1 million in Q4 2024 and $1 million in Q3 2025.<\/p>\n

              \"Q4<\/p>\n

              During Q4 2025, GEG played lucky in its gaming operations which increased its Adjusted EBITDA by approximately $731 million. Normalized Adjusted EBITDA was $3.6 billion, up 9% year-on-year and up 7% quarter-on-quarter.<\/p>\n

              The Group\u2019s total GGR in Q4 2025 was $14.0 billion, up 27% year-on-year and up 14% quarter-on-quarter. Mass GGR was $10.0 billion, up 15% year-on-year, up 6% quarter-on-quarter. VIP GGR was $3.1 billion, up 102% year-on-year and up 52% quarter-on-quarter. Electronic GGR was $830 million, up 6% year-on-year and up 12% quarter-on-quarter.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
              Group Key Financial Data<\/strong><\/td>\n\u00a0<\/td>\n<\/tr>\n
              (HK$’m)<\/em><\/td>\nQ4 2024<\/td>\nQ3 2025<\/td>\nQ4 2025<\/strong><\/td>\nFY2024<\/td>\nFY2025<\/strong><\/td>\n<\/tr>\n
              Revenues:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Net Gaming<\/td>\n8,853<\/td>\n9,707<\/td>\n11,363<\/strong><\/td>\n33,826<\/td>\n39,648<\/strong><\/td>\n<\/tr>\n
              Non-gaming<\/td>\n1,670<\/td>\n1,729<\/td>\n1,737<\/strong><\/td>\n6,425<\/td>\n6,631<\/strong><\/td>\n<\/tr>\n
              Construction Materials<\/td>\n771<\/td>\n727<\/td>\n733<\/strong><\/td>\n3,181<\/td>\n2,963<\/strong><\/td>\n<\/tr>\n
              Total Net Revenue<\/td>\n11,294<\/td>\n12,163<\/td>\n13,833<\/strong><\/td>\n43,432<\/td>\n49,242<\/strong><\/td>\n<\/tr>\n
              Adjusted EBITDA<\/td>\n3,237<\/td>\n3,341<\/td>\n4,296<\/strong><\/td>\n12,188<\/td>\n14,502<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Gaming Statistics<\/strong>6<\/strong><\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              (HK$’m)<\/em><\/td>\nQ4 2024<\/td>\nQ3 2025<\/td>\nQ4 2025<\/strong><\/td>\nFY2024<\/td>\nFY2025<\/strong><\/td>\n<\/tr>\n
              Rolling Chip Volume7<\/sup><\/td>\n51,808<\/td>\n65,003<\/td>\n60,489<\/strong><\/td>\n180,879<\/td>\n227,631<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n3.0%<\/td>\n3.1%<\/td>\n5.1<\/strong>%<\/strong><\/td>\n2.9%<\/td>\n4.2<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n1,539<\/td>\n2,044<\/td>\n3,109<\/strong><\/td>\n5,329<\/td>\n9,544<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Mass Table Drop8<\/sup><\/td>\n32,256<\/td>\n35,414<\/td>\n35,281<\/strong><\/td>\n127,823<\/td>\n137,961<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n27.0%<\/td>\n26.7%<\/td>\n28.4<\/strong>%<\/strong><\/td>\n25.9%<\/td>\n26.5<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n8,707<\/td>\n9,460<\/td>\n10,011<\/strong><\/td>\n33,112<\/td>\n36,512<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Electronic Gaming Volume<\/td>\n27,464<\/td>\n27,424<\/td>\n29,220<\/strong><\/td>\n95,380<\/td>\n110,815<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n2.8%<\/td>\n2.7%<\/td>\n2.8<\/strong>%<\/strong><\/td>\n2.8%<\/td>\n2.8<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n780<\/td>\n738<\/td>\n830<\/strong><\/td>\n2,704<\/td>\n3,082<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Total GGR Win9<\/sup><\/td>\n11,026<\/td>\n12,242<\/td>\n13,950<\/strong><\/td>\n41,145<\/td>\n49,138<\/strong><\/td>\n<\/tr>\n<\/table>\n


              Galaxy Macau\u2122<\/strong><\/p>\n

              Galaxy Macau\u2122 is the primary contributor to Group revenue and earnings. In 2025, Net Revenue was $41.0 billion, up 19% year-on-year. Adjusted EBITDA was $13.4 billion, up 24% year-on-year. Galaxy Macau\u2122 played lucky in its gaming operations which increased its Adjusted EBITDA by approximately $1.5 billion. Normalized 2025 Adjusted EBITDA was $11.9 billion, up 8% year-on-year.<\/p>\n

              In Q4 2025, Galaxy Macau\u2122\u2019s Net Revenue was $11.8 billion, up 29% year-on-year and up 17% quarter-on-quarter. Adjusted EBITDA was $4.0 billion, up 41% year-on-year and up 31% quarter-on-quarter. Galaxy Macau\u2122 played lucky in its gaming operations which increased its Adjusted EBITDA by approximately $729 million. Normalized Q4 2025 Adjusted EBITDA was $3.3 billion, up 15% year-on-year and up 8% quarter-on-quarter.<\/p>\n

              The combined nine hotels occupancy for Q4 2025 and full year were 99% and 98% respectively.<\/p>\n

              Galaxy Macau\u2122 Key Financial Data<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
              (HK$’m)<\/em><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\nQ4 2024<\/td>\nQ3 2025<\/td>\nQ4 2025<\/strong><\/td>\nFY2024<\/td>\nFY2025<\/strong><\/td>\n<\/tr>\n
              Revenues:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Net Gaming<\/td>\n7,665<\/td>\n8,546<\/td>\n10,199<\/strong><\/td>\n28,833<\/td>\n35,074<\/strong><\/td>\n<\/tr>\n
              Hotel \/ F&B \/ Others<\/td>\n1,127<\/td>\n1,206<\/td>\n1,214<\/strong><\/td>\n4,279<\/td>\n4,577<\/strong><\/td>\n<\/tr>\n
              Mall<\/td>\n348<\/td>\n340<\/td>\n360<\/strong><\/td>\n1,392<\/td>\n1,363<\/strong><\/td>\n<\/tr>\n
              Total Net Revenue<\/td>\n9,140<\/td>\n10,092<\/td>\n11,773<\/strong><\/td>\n34,504<\/td>\n41,014<\/strong><\/td>\n<\/tr>\n
              Adjusted EBITDA<\/td>\n2,842<\/td>\n3,068<\/td>\n4,020<\/strong><\/td>\n10,794<\/td>\n13,429<\/strong><\/td>\n<\/tr>\n
              Adjusted EBITDA Margin<\/td>\n31%<\/td>\n30%<\/td>\n34<\/strong>%<\/strong><\/td>\n31%<\/td>\n33<\/strong>%<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Gaming Statistics<\/strong>10<\/strong><\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              (HK$’m)<\/em><\/td>\nQ4 2024<\/td>\nQ3 2025<\/td>\nQ4 2025<\/strong><\/td>\nFY2024<\/td>\nFY2025<\/strong><\/td>\n<\/tr>\n
              Rolling Chip Volume11<\/sup><\/td>\n50,862<\/td>\n64,032<\/td>\n60,111<\/strong><\/td>\n175,759<\/td>\n223,373<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n3.0%<\/td>\n3.2%<\/td>\n5.1<\/strong>%<\/strong><\/td>\n2.9%<\/td>\n4.2<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n1,522<\/td>\n2,020<\/td>\n3,094<\/strong><\/td>\n5,079<\/td>\n9,446<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Mass Table Drop12<\/sup><\/td>\n25,443<\/td>\n27,983<\/td>\n27,984<\/strong><\/td>\n99,153<\/td>\n108,653<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n29.3%<\/td>\n29.3%<\/td>\n31.2<\/strong>%<\/strong><\/td>\n28.3%<\/td>\n29.1<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n7,465<\/td>\n8,205<\/td>\n8,736<\/strong><\/td>\n28,041<\/td>\n31,637<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Electronic Gaming Volume<\/td>\n17,792<\/td>\n17,430<\/td>\n20,693<\/strong><\/td>\n62,086<\/td>\n72,891<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n3.4%<\/td>\n3.3%<\/td>\n3.3<\/strong>%<\/strong><\/td>\n3.4%<\/td>\n3.3<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n611<\/td>\n580<\/td>\n679<\/strong><\/td>\n2,112<\/td>\n2,440<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Total GGR Win<\/td>\n9,598<\/td>\n10,805<\/td>\n12,509<\/strong><\/td>\n35,232<\/td>\n43,523<\/strong><\/td>\n<\/tr>\n<\/table>\n


              StarWorld Macau<\/strong><\/p>\n

              In 2025, StarWorld Macau\u2019s Net Revenue was $5.0 billion, down 7% year-on-year. Adjusted EBITDA was $1.4 billion, down 13% year-on-year. StarWorld Macau played unlucky in its gaming operations which decreased its Adjusted EBITDA by approximately $20 million. Normalized 2025 Adjusted EBITDA was $1.4 billion, down 9% year-on-year.<\/p>\n

              In Q4 2025, StarWorld Macau\u2019s Net Revenue was $1.3 billion, down 1% year-on-year and up 1% quarter-on-quarter. Adjusted EBITDA was $356 million, down 2% year-on-year and down 4% quarter-on-quarter. StarWorld Macau played lucky in its gaming operations which increased its Adjusted EBITDA by approximately $2 million in Q4 2025. Normalized Adjusted EBITDA was $354 million, down 5% year-on-year and down 5% quarter-on-quarter.<\/p>\n

              Hotel occupancy was 100% for Q4 and full year 2025.<\/p>\n

              StarWorld Macau Key Financial Data<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
              (HK$\u2019m)<\/em><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\nQ4 2024<\/td>\nQ3 2025<\/td>\nQ4 2025<\/strong><\/td>\nFY2024<\/td>\nFY2025<\/strong><\/td>\n<\/tr>\n
              Revenues:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Net Gaming<\/td>\n1,152<\/td>\n1,142<\/td>\n1,158<\/strong><\/td>\n4,782<\/td>\n4,465<\/strong><\/td>\n<\/tr>\n
              Hotel \/ F&B \/ Others<\/td>\n131<\/td>\n115<\/td>\n111<\/strong><\/td>\n513<\/td>\n464<\/strong><\/td>\n<\/tr>\n
              Mall<\/td>\n6<\/td>\n6<\/td>\n6<\/strong><\/td>\n23<\/td>\n22<\/strong><\/td>\n<\/tr>\n
              Total Net Revenue<\/td>\n1,289<\/td>\n1,263<\/td>\n1,275<\/strong><\/td>\n5,318<\/td>\n4,951<\/strong><\/td>\n<\/tr>\n
              Adjusted EBITDA<\/td>\n363<\/td>\n369<\/td>\n356<\/strong><\/td>\n1,584<\/td>\n1,378<\/strong><\/td>\n<\/tr>\n
              Adjusted EBITDA Margin<\/td>\n28%<\/td>\n29%<\/td>\n28<\/strong>%<\/strong><\/td>\n30%<\/td>\n28<\/strong>%<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Gaming Statistics<\/strong>13<\/strong><\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              (HK$’m)<\/em><\/td>\nQ4 2024<\/td>\nQ3 2025<\/td>\nQ4 2025<\/strong><\/td>\nFY2024<\/td>\nFY2025<\/strong><\/td>\n<\/tr>\n
              Rolling Chip Volume14<\/sup><\/td>\n946<\/td>\n971<\/td>\n378<\/strong><\/td>\n5,120<\/td>\n4,258<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n1.8%<\/td>\n2.4%<\/td>\n4.2<\/strong>%<\/strong><\/td>\n4.9%<\/td>\n2.3<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n17<\/td>\n24<\/td>\n15<\/strong><\/td>\n250<\/td>\n98<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Mass Table Drop15<\/sup><\/td>\n6,620<\/td>\n7,336<\/td>\n7,271<\/strong><\/td>\n27,727<\/td>\n28,842<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n18.4%<\/td>\n16.9%<\/td>\n17.5<\/strong>%<\/strong><\/td>\n17.8%<\/td>\n16.6<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n1,220<\/td>\n1,241<\/td>\n1,269<\/strong><\/td>\n4,936<\/td>\n4,796<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Electronic Gaming Volume<\/td>\n8,660<\/td>\n9,636<\/td>\n8,526<\/strong><\/td>\n28,541<\/td>\n35,797<\/strong><\/td>\n<\/tr>\n
              Win Rate %<\/td>\n1.8%<\/td>\n1.6%<\/td>\n1.8<\/strong>%<\/strong><\/td>\n1.8%<\/td>\n1.7<\/strong>%<\/strong><\/td>\n<\/tr>\n
              Win<\/td>\n155<\/td>\n153<\/td>\n151<\/strong><\/td>\n516<\/td>\n612<\/strong><\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Total GGR Win<\/td>\n1,392<\/td>\n1,418<\/td>\n1,435<\/strong><\/td>\n5,702<\/td>\n5,506<\/strong><\/td>\n<\/tr>\n<\/table>\n


              Broadway Macau\u2122<\/strong><\/p>\n

              Broadway Macau\u2122 is a unique family friendly, theatre, street entertainment and food resort strongly collaborating with Macau SMEs. In 2025, Net Revenue for Broadway Macau\u2122 was $205 million, down 7% year-on-year. Adjusted EBITDA was $11 million, down 54% year-on-year. In Q4 2025, Net Revenue for Broadway Macau\u2122 was $46 million, down 21% year-on-year and down 26% quarter-on-quarter. Adjusted EBITDA was $4 million, versus $1 million in Q4 2024 and $1 million in Q3 2025.<\/p>\n

              City Clubs<\/strong><\/p>\n

              In 2025, City Clubs\u2019 Net Revenue was $109 million, down 48% year-on-year. Adjusted EBITDA was $(7) million, versus $14 million in 2024. In Q4 2025, City Clubs\u2019 Net Revenue was $6 million, down 83% year-on-year and down 68% quarter-on-quarter. Adjusted EBITDA was $(4) million, versus $(1) million in Q4 2024 and $(6) million in Q3 2025.<\/p>\n

              GEG announced that Waldo Casino ceased operations on 31 October 2025. In alignment with Macau Government policies, GEG is committed to safeguarding local employment. In addition to being able to retain the same position, employees have also been offered the opportunity to explore a range of career paths if they wish to do so and they received support for their transition into a new working environment.<\/p>\n

              Construction Materials Division (\u201cCMD\u201d)<\/strong><\/p>\n

              CMD contributed Adjusted EBITDA of $877 million for full year 2025, up 2% year-on-year. In Q4 2025, Adjusted EBITDA was $248 million, down 10% year-on-year and up 20% quarter-on-quarter.<\/p>\n

              Development Update<\/strong><\/p>\n

              Galaxy Macau\u2122 and StarWorld Macau<\/em><\/p>\n

              We continue to make ongoing progressive enhancements to our resorts to ensure that they remain competitive and appealing to our guests including adding new F&B, lifestyle and retail offerings at Galaxy Macau\u2122.<\/p>\n

              Capella at Galaxy Macau soft launched in May 2025 and officially opened on 10 February 2026. Capella offers 95 ultra-luxury signature suites and Penthouses, which set a new level of luxury, opulence and service levels in Macau and have been extremely well received by our guests since opening, allowing us to capture the super-premium mass segment more effectively at scale.<\/p>\n

              We also continue to ramp up GICC and Galaxy Arena by bringing a range of mega shows, concerts and events to Galaxy Macau\u2122. In 2025, GEG hosted around 350 concerts, entertainment shows, sporting and major events. Highlights included world-class tenor Andrea Bocelli\u2019s concert in March, the ITTF World Cup in April, performances by G-Dragon, Jacky Cheung, and Eason Chan during summer, and the National Games in November which was the first time that they were jointly held in Macau. We also hosted the two-day iQIYI Scream Carnival which is an exclusive multi-year strategic partnership with Galaxy Arena. In addition, the \u20182025 Greater Bay Area Film and Music Gala \u2013 Bay Area Rising Moon\u2019, co-organized by the Film Channel Program Centre, the Cultural Affairs Bureau of the Macao SAR Government, Zijing Culture Group and Phoenix Television, was also successfully held at Galaxy Arena. In 2026 we will continue our partnerships with leading global entertainment companies to present marquee concerts, while expanding our collaboration with UFC to bring thrilling UFC Fight Nights to the city. We have also renewed a three-year cooperation agreement with Damai Entertainment, a member of Alibaba Group, and Macau Pass to enhance our events ticketing services.<\/p>\n

              At StarWorld Macau we are undertaking a comprehensive renovation and upgrade of the resort to ensure it remains competitive and appealing to guests. We have completed the renovation of the gaming floors on level one and three, along with a refit of the food and beverage areas which includes new food and beverage offerings. Recently we commenced the renovation of the hotel rooms and suites. We anticipate to have all hotel rooms fully completed by the first quarter of 2027.<\/p>\n

              Cotai \u2013 The Next Chapter<\/em><\/p>\n

              We are progressing well with the fitting out of the approximately 600,000 sqm Phase 4 development. We continued to research the market and received customer feedback. All the feedback leads us to conclude that customers want premium products \u2013 larger, more spacious and luxurious rooms including premium amenities and services. Therefore we have increased the room size of our Phase 4 and the total hotel rooms and suites will be approximately 1,350, together with an approximately 5,000-seat theater, extensive F&B, retail, non-gaming amenities, landscaping, a water resort deck and a casino. Phase 4 is targeted to complete in 2027. We remain highly confident about the future of Macau where Phases 3 & 4 will support Macau\u2019s vision of becoming a World Centre of Tourism and Leisure.<\/p>\n

              Selected Major Awards for 2025\u00a0<\/strong><\/p>\n\n\n\n\n\n\n\n
              AWARD<\/strong><\/td>\nPRESENTER<\/strong><\/td>\n<\/tr>\n
              GEG<\/strong><\/td>\n\u00a0<\/td>\n<\/tr>\n
              Global Gaming Awards Asia-Pacific 2025 – Casino Operator of the Year<\/td>\nGambling Insider<\/td>\n<\/tr>\n
              11th<\/sup> Outstanding Corporate Social Responsibility Award Ceremony – Outstanding Corporate Social Responsibility Award<\/td>\nMirror Post of Hong Kong<\/td>\n<\/tr>\n
              2025 IAG Academy IR Awards \uff0d Best Overall CSR Program \u2013 \u201cCommunity at Heart, Empathy in Action\u201d<\/td>\nInside Asian Gaming<\/td>\n<\/tr>\n
              8th<\/sup> Hong Kong ESG Reporting Awards <\/p>\n
                \n
              • Excellence in Social Positive Impact – Commendation<\/li>\n
              • Greater Bay Area Outstanding ESG Disclosure List<\/li>\n<\/ul>\n<\/td>\n
              		Alaya Consulting<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
              GALAXY MACAU<\/strong>\u2122<\/sup><\/td>\n<\/tr>\n
              Global Gaming Awards Asia-Pacific 2025 – Integrated Resort of the Year<\/td>\nGambling Insider<\/td>\n<\/tr>\n
              2025 IAG Academy IR Awards<\/p>\n
                \n
              • Best Integrated Resort – Galaxy Macau\u2122<\/li>\n
              • Best Overall F&B Offering by an IR – Galaxy Macau\u2122<\/li>\n
              • Best Hotel in an IR – Capella at Galaxy Macau<\/li>\n<\/ul>\n<\/td>\n
              		Inside Asian Gaming<\/td>\n<\/tr>\n
              Five-Star Hotel<\/p>\n
                \n
              • Banyan Tree Macau<\/li>\n
              • Galaxy Hotel\u2122<\/li>\n
              • Hotel Okura Macau<\/li>\n
              • Raffles at Galaxy Macau<\/li>\n
              • The Ritz-Carlton, Macau<\/li>\n<\/ul>\n

                Five-Star Restaurant<\/p>\n

                  \n
                • 8\u00bd Otto e Mezzo BOMBANA<\/li>\n
                • Yamazato<\/li>\n<\/ul>\n

                  Five-Star Spa <\/p>\n

                    \n
                  • Banyan Tree Spa Macau<\/li>\n
                  • The Ritz-Carlton Spa, Macau<\/li>\n<\/ul>\n<\/td>\n
              		2025 Forbes Travel Guide<\/td>\n<\/tr>\n
              Travel + Leisure Luxury Awards Asia Pacific 2025<\/p>\n

              Best Integrated Resort<\/p>\n

                \n
              • Galaxy Macau\u2122 (Second place)<\/li>\n<\/ul>\n

                Macau\u2019s Best Hotels<\/p>\n

                  \n
                • Galaxy Hotel\u2122 (First place)<\/li>\n
                • Banyan Tree Macau (Fourth place)<\/li>\n
                • Andaz Macau (Tenth place)<\/li>\n<\/ul>\n

                  Macau\u2019s Best Hotel Pools<\/p>\n

                    \n
                  • Grand Resort Deck (First place)<\/li>\n
                  • Banyan Tree Macau (Second place)<\/li>\n
                  • Raffles at Galaxy Macau (Tenth place)<\/li>\n<\/ul>\n

                    Macau\u2019s Best Hotel Spa <\/p>\n

                      \n
                    • Banyan Tree Spa Macau (First place)<\/li>\n<\/ul>\n<\/td>\n
              		Travel and Leisure Luxury<\/td>\n<\/tr>\n
              Macau’s Best Resort Spa 2025 – Banyan Tree Spa Macau<\/td>\nWorld Spa Awards<\/td>\n<\/tr>\n
              2025 Black Pearl Restaurant Guide One Diamond <\/td>\nMei Tuan<\/td>\n<\/tr>\n
              The MICHELIN Guide Hong Kong Macau 2025<\/p>\n

              MICHELIN One-Star Restaurant<\/p>\n

                \n
              • 8\u00bd Otto e Mezzo BOMBANA<\/li>\n
              • Lai Heen<\/li>\n
              • Sushi Kissho by Miyakawa<\/li>\n<\/ul>\n

                MICHELIN Selected Restaurants<\/p>\n

                  \n
                • Saffron<\/li>\n
                • Terrazza Italian Restaurant<\/li>\n
                • The Ritz-Carlton Caf\u00e9<\/li>\n<\/ul>\n

                  One MICHELIN Key <\/p>\n

                    \n
                  • Banyan Tree Macau<\/li>\n
                  • The Ritz-Carlton, Macau<\/li>\n<\/ul>\n<\/td>\n
              		MICHELIN Guide<\/td>\n<\/tr>\n
              2025 Readers’ Choice Awards – Best Macau Hotels <\/p>\n
                \n
              • Banyan Tree Macau<\/li>\n
              • JW Marriott Hotel Macau<\/li>\n
              • Raffles at Galaxy Macau<\/li>\n
              • The Ritz-Carlton, Macau<\/li>\n<\/ul>\n<\/td>\n
              		DestinAsian<\/td>\n<\/tr>\n
              Traveller Review Awards 2025 Winner <\/p>\n
                \n
              • Andaz Macau<\/li>\n
              • Banyan Tree Macau<\/li>\n
              • Galaxy Hotel\u2122<\/li>\n
              • Hotel Okura Macau<\/li>\n<\/ul>\n<\/td>\n
              		Booking.com<\/td>\n<\/tr>\n
              Macau Green Hotel Awards \u2013 Gold Award \u2013 Hotel Okura Macau<\/td>\nEnvironmental Protection Bureau of the Macao SAR Government<\/td>\n<\/tr>\n
              SCMP 100 Top Tables 2025 <\/p>\n
                \n
              • 8\u00bd Otto e Mezzo BOMBANA<\/li>\n
              • Lai Heen<\/li>\n
              • Sushi Kissho by Miyakawa<\/li>\n
              • Teppanyaki Shou<\/li>\n
              • Yamazato<\/li>\n<\/ul>\n<\/td>\n
              		South China Morning Post<\/td>\n<\/tr>\n
              Tatler Best Hong Kong and Macau Awards 2025<\/p>\n
                \n
              • Best New Hotel – Raffles at Galaxy Macau<\/li>\n
              • Best Service Bar – The Macallan Whisky Bar & Lounge<\/li>\n
              • Best New Restaurant – Sushi Kissho by Miyakawa<\/li>\n
              • Best Design Restaurant – Teppanyaki Shou at Raffles<\/li>\n
              • Best Design Bar – Raffles Lounge & Terrace<\/li>\n
              • Best New Bar – Long Bar<\/li>\n<\/ul>\n

                Tatler Best 20 Restaurants (Macau) <\/p>\n

                  \n
                • 8\u00bd Otto e Mezzo BOMBANA<\/li>\n
                • Sushi Kissho by Miyakawa<\/li>\n
                • Saffron<\/li>\n
                • Teppanyaki Shou at Raffles\u00a0<\/li>\n<\/ul>\n<\/td>\n
              		Tatler Asia<\/td>\n<\/tr>\n
              Vogue Living Awards 2025 – Best Hotel Bar (Macau) \u2013 PONY & PLUME at Capella at Galaxy Macau<\/td>\nVouge Hong Kong<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
              STARWORLD MACAU<\/strong><\/td>\n<\/tr>\n
              The MICHELIN Guide Hong Kong Macau 2025 – MICHELIN Two-Star Restaurant \u2013 Feng Wei Ju<\/td>\nMICHELIN Guide<\/td>\n<\/tr>\n
              SCMP 100 Top Tables 2025 – Feng Wei Ju<\/td>\nSouth China Morning Post<\/td>\n<\/tr>\n
              BAZAAR Taste Elite 2025 (Macau) – Feng Wei Ju<\/td>\nHARPERS BAZAAR<\/td>\n<\/tr>\n
              2025 Black Pearl Restaurant Guide One Diamond \u2013 Feng Wei Ju<\/td>\nMei Tuan<\/td>\n<\/tr>\n
              BROADWAY MACAU\u2122<\/strong><\/td>\n<\/tr>\n
              Hotel Awards Appreciation Event – Popular Hotel – Broadway Macau\u2122<\/td>\nMei Tuan<\/td>\n<\/tr>\n
              Macau Green Hotel Awards \u2013 Silver Award \u2013 Broadway Hotel<\/td>\nEnvironmental Protection Bureau of the Macao SAR Government<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n
              CONSTRUCTION MATERIALS DIVISION<\/strong><\/td>\n<\/tr>\n
              Carbon Reduction Action – Participation as Collaborating Partner of Carbon Reduction Action \u2013 Certificate<\/td>\nEnvironmental Campaign Committee<\/td>\n<\/tr>\n
              Hong Kong Green Organization Certification \u2013 Wastewise – Excellent Level<\/td>\nHong Kong Green Organisation Certification<\/td>\n<\/tr>\n
              24th<\/sup> Hong Kong Occupational Safety & Health Award <\/p>\n
                \n
              • Safety Management System Award – All Industries – Bronze Award<\/li>\n
              • Safety Performance Award – All Industries – Outstanding Award<\/li>\n<\/ul>\n<\/td>\n
              		Labour Department, Occupational Safety and Health Council<\/td>\n<\/tr>\n<\/table>\n


              Outlook <\/strong><\/p>\n

              Over the nine-day Chinese New Year holiday from 15 to 23 February, Macau welcomed 1.55 million visitors, with an average of approximately 172,000 per day, setting a new record for single-day visitation. Macau\u2019s major resort hotels were fully occupied during the period, underscoring strong demand from Mainland visitors, driven by enhanced tourist attractions and mega entertainment and sporting events.<\/p>\n

              Macau is poised for another dynamic year of entertainment and leisure growth. GEG\u2019s sustained partnerships with leading global entertainment companies will deliver premier concerts that strengthen our international profile. At the same time, our expanded collaboration with UFC will introduce thrilling UFC Fight Nights, and we will host more international sporting tournaments, further strengthening Macau\u2019s reputation as the \u2018City of Sports\u2019. We have also renewed a three-year cooperation agreement with Damai Entertainment, a member of Alibaba Group, and Macau Pass to reinforce our events ticketing services. Collectively, these strategic initiatives will enhance customer engagement, broaden audience reach, and solidify Macau\u2019s position as the World Centre of Tourism and Leisure.<\/p>\n

              Looking ahead, we recognize the Macau gaming market will remain highly competitive, especially in the premium mass segment. Our strategy is clear: differentiate through quality products and services, operational excellence, customer engagement, and technological innovation. We will also continue to leverage our marketing offices in Tokyo, Seoul, Bangkok, and Singapore to expand our regional customer base.<\/p>\n

              On the development front, we remain focused on enhancing competitiveness through resort upgrades and the development of Phase 4. Phase 4 will introduce multiple high-end hotel brands that are new to Macau, together with an approximately 5,000-seat theater, extensive F&B, retail, non-gaming amenities, landscaping, a water resort deck and a casino. Completion is targeted for 2027.<\/p>\n

              We continue to actively pursue international development opportunities, evaluating each on a case-by-case basis. They need to strategically align with GEG\u2019s overall master plan and vision, while also being scalable enough to make a meaning contribution to our EBITDA.<\/p>\n

              While we remain confident in the medium to longer term prospects of both Macau and GEG, we will continue to closely monitor the global economic environment and geopolitical developments. This vigilance will allow us to adapt quickly to changing conditions, ensure our resilience and drive long-term value creation.<\/p>\n

              About Galaxy Entertainment Group (HKEx stock code: 27)<\/u><\/p>\n

              Galaxy Entertainment Group Limited (\u201cGEG\u201d or the \u201cCompany\u201d) and its subsidiaries (\u201cGEG\u201d or the \u201cGroup\u201d) is one of the world\u2019s leading resorts, hospitality and gaming companies. The Group primarily develops and operates a large portfolio of integrated resort, retail, dining, hotel and gaming facilities in Macau. GEG is listed on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index.<\/p>\n

              GEG through its subsidiary, Galaxy Casino S.A., is one of the three original concessionaires in Macau when the gaming industry was liberalized in 2002. In 2022, GEG was awarded a new gaming concession valid from January 1, 2023, to December 31, 2032. GEG has a successful track record of delivering innovative, spectacular and award-winning properties, products and services, underpinned by a \u201cWorld Class, Asian Heart\u201d service philosophy, that has enabled it to consistently outperform the market in Macau.<\/p>\n

              The Group operates three flagship destinations in Macau: on Cotai, Galaxy Macau\u2122, one of the world\u2019s largest integrated destination resorts, and the adjoining Broadway Macau\u2122, a unique landmark entertainment and food street destination; and on the Peninsula, StarWorld Macau, an award-winning premium property.<\/p>\n

              The Group has the largest development pipeline of any concessionaire in Macau. When The Next Chapter of its Cotai development is completed, GEG\u2019s resorts footprint on Cotai will be more than 2 million square meters, making the resorts, entertainment and MICE precinct one of the largest and most diverse integrated destinations in the world. GEG also considers opportunities in the Greater Bay Area and internationally. These projects will help GEG develop and support Macau in its vision of becoming a World Centre of Tourism and Leisure.<\/p>\n

              In July 2015, GEG made a strategic investment in Soci\u00e9t\u00e9 Anonyme des Bains de Mer et du Cercle des \u00c9trangers \u00e0 Monaco (\u201cMonte-Carlo SBM\u201d), a world renowned owner and operator of iconic luxury hotels and resorts in the Principality of Monaco. GEG continues to explore a range of international development opportunities with Monte-Carlo SBM.<\/p>\n

              GEG is committed to delivering world class unique experiences to its guests and building a sustainable future for the communities in which it operates.<\/p>\n

              For more information about the Group, please visit www.galaxyentertainment.com<\/u><\/a><\/p>\n

              ___________________________
              1<\/sup> Reflects luck adjustments associated with our rolling chip program.
              2<\/sup> Gaming statistics are presented before deducting commission and incentives.
              3<\/sup> Reflects sum of promoter and inhouse premium direct.
              4<\/sup> Mass table drop includes the amount of table drop plus cash chips purchased at the cage.
              5<\/sup> Total GGR win includes gaming win from City Clubs. Waldo Casino ceased operations on 31 October 2025.
              6<\/sup> Gaming statistics are presented before deducting commission and incentives.
              7<\/sup> Reflects sum of promoter and inhouse premium direct.
              8<\/sup> Mass table drop includes the amount of table drop plus cash chips purchased at the cage.
              9<\/sup> Total GGR win includes gaming win from City Clubs. Waldo Casino ceased operations on 31 October 2025.
              10<\/sup> Gaming statistics are presented before deducting commission and incentives.
              11<\/sup> Reflects sum of promoter and inhouse premium direct.
              12<\/sup> Mass table drop includes the amount of table drop plus cash chips purchased at the cage.
              13<\/sup> Gaming statistics are presented before deducting commission and incentives.
              14<\/sup> Reflects sum of promoter and inhouse premium direct.
              15<\/sup> Mass table drop includes the amount of table drop plus cash chips purchased at the cage.<\/p>\n

              Photos accompanying this announcement are available at:<\/p>\n

              https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/4cc04ee9-655d-49e1-b0d9-c8d4f70b69a7<\/a><\/p>\n

              https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/c037770f-a066-4502-a9f4-77a354e43d60<\/a>\u00a0<\/p>\n\"\"\n <\/div>\n

              \u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n

              \u2018 Some details of this article were extracted from the following source www.globenewswire.com \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

              Leading Macau\u2019s Non-Gaming Diversification Through Mice, Entertainment Events and Live Sports Q4 2025 Group Adjusted EBITDAUp 33% YoY and Up 29% QoQ to $4.3 Billion FY2025 Group Adjusted EBITDA Up 19% YoY to $14.5 Billion\u00a0 FY2025 Group NPAS Up 22% YoY to $10.7 Billion Recommends a Final Dividend of $0.80 Per Share Capella at Galaxy […]<\/p>\n","protected":false},"author":2,"featured_media":2300846,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[318246,407633,407632,445802],"class_list":["post-2300845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment","tag-galaxy-entertainment-group","tag-galaxy-entertainment-group-limited","tag-hong-kong-stock-exchange0027-hk","tag-results-announcement"],"jetpack_featured_media_url":"https:\/\/celebrity.land\/en\/wp-content\/uploads\/2026\/02\/Galaxy-Entertainment-Group-Reports-Q4-Annual-2025.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2300845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=2300845"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2300845\/revisions"}],"predecessor-version":[{"id":2300847,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2300845\/revisions\/2300847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media\/2300846"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2300845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2300845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2300845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}