Macau casino operator Galaxy Entertainment Group Ltd reported fourth-quarter 2025 adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of just under HKD4.30 billion (US$549.2 million). The result was up 32.7 percent from the prior-year period.
The firm gave the information in a filing to the Hong Kong Stock Exchange on Thursday.
Galaxy Entertainment also announced a final dividend of HKD0.80 per share, to be paid on June 12. During 2025, the company paid two dividends of HKD0.50 and HKD0.70, totalling HKD1.20 per share.
Fourth-quarter net revenue rose by 22.5 percent from a year earlier, to HKD13.83 billion.
The group’s gross gaming revenue (GGR) in the three months to December 31 stood at HKD13.95 billion, up 26.5 percent from a year ago.
Galaxy Entertainment runs its flagship casino resort Galaxy Macau (pictured) on Cotai; the StarWorld Hotel, the group’s main venue on Macau peninsula; and Broadway Macau, the mass-market focused property next door to Galaxy Macau.
The company reported net revenue of HKD49.24 billion for full-year 2025, up 13.4 percent year-on-year. The casino operator had a net profit of HKD10.67 billion last year, up 21.9 percent from the prior year.
Adjusted EBITDA stood at HKD14.50 billion in 2025, a 19.0-percent increase year-on-year, according to Thursday’s filing.
Francis Lui Yiu Tung, chairman of Galaxy Entertainment, was quoted in the announcement as saying: “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.”
He added: “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.”
The Capella at Galaxy Macau hotel is a 17-storey luxury property with 95 suites and penthouses. A gaming floor within the tower where the hotel is located, was open by early May last year, according to several memos from investment analysts issued at the time.
Mr Lui said the group’s balance sheet “remains healthy and liquid,” with cash and liquid investments of HKD36.3 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,” he stated.
As of December 31, Galaxy Entertainment’s cash and liquid investments amounted to HKD36.3 billion, with total debt of HKD1.3 billion.
In Thursday’s announcement, the casino firm said it was now “firmly focused” on the development of Phase 4 of Galaxy Macau.
Phase 4, scheduled to be completed in 2027, is to include “multiple high-end hotel brands that are new to Macau,” as well as a 5,000-seat theatre, retail and a water resort deck.
Phase 4 of Galaxy Macau will now feature fewer rooms than originally envisioned.
“All the feedback leads us to conclude that customers want premium products – larger, more spacious and luxurious rooms including premium amenities and services,” the firm said in Thursday’s update.
“Therefore, we have increased the room size of our Phase 4 and the total hotel rooms and suites will be approximately 1,350,” down from the 1,500 rooms that had been mentioned in late 2025.
