Galaxy Entertainment Group (GEG) Chairman Francis Lui expressed optimism on Thursday about Macau’s ability to reach its 2025 gross gaming revenue (GGR) target of MOP240 billion ($30 billion), despite a slow start to the year.
Speaking at a company event, Lui acknowledged that January’s Lunar New Year performance fell short of expectations, but noted that results in late February had exceeded forecasts.
“The results for January and February have been very close to our expectations, and we remain confident in achieving the annual target of MOP240 billion,” Lui told reporters.
GEG reported a 22% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) to $12.2 billion in 2024, with total revenue reaching $43.4 billion.
Casino gaming remains the company’s primary driver, with net gaming revenue rising 24% to $33.8 billion, outpacing the 19% growth in non-gaming revenue, which reached $6.4 billion.
The company announced two dividend payments totaling $0.80 per share in 2024, with a final dividend of $0.50 per share scheduled for June 2025.
Galaxy Macau is set to open its 10th hotel, Capella at Galaxy Macau, in mid-2025, featuring 100 luxury villas and suites. The group’s Phase 4 expansion in Cotai, which focuses on non-gaming entertainment, is expected to be completed by 2027.
“As the market evolves, non-gaming elements are gaining more importance. Therefore, the group has been considering making use of the large land piece in Cotai to cater to guest preferences,” Lui said.
He also revealed that a theme park is among the concepts being considered, but stressed that government support would be essential for such a development.
GEG ramped up its entertainment offerings in 2024, hosting 460 live events, including concerts by Andy Lau, Ultimate Fighting Championship (UFC) events, and the Women’s Volleyball Nations League.
For 2025, the lineup includes Andrea Bocelli in March, the ITTF World Cup in April, and Jacky Cheung’s return in June.
The company is also working to boost international tourism, opening offshore offices in Tokyo, Seoul, and Bangkok. International visitor arrivals to Macau surged 66% in 2024 to 2.4 million, GEG said.
Macau’s casino industry faced a 5.6% year-over-year drop in GGR in January, which analysts attributed to Lunar New Year seasonality and Chinese President Xi Jinping’s December visit for the handover anniversary.
Despite the early-year dip, mass gaming revenue surged 25% year-over-year to $33.1 billion in 2024, indicating strong long-term momentum.
“We remain focused on enhancing our offerings and supporting Macau’s push to become a world-class tourism and entertainment destination,” Lui said.
Original article: https://www.yogonet.com/international/news/2025/03/04/96665-galaxy-entertainment-confident-in-macaus-30-billion-casino-revenue-target-for-2025
