Galaxy Entertainment Group Limited · HKEX:27
Galaxy Entertainment — FY2024 Earnings Presentation
31 slides from Galaxy Entertainment's earnings presentation, Feb 27, 2025
Slide 1: Q4 and Annual Results 2024
Q4 and Annual Results 2024 27 February, 2025
Slide 2: Chairman's statement: Francis Lui Yiu Tung
Mr. Francis Lui Yiu Tung, Chairman of GEG said: “Before I update you on GEG’s performance in 2024, I would like firstly to acknowledge the passing of Dr. Lui Che Woo in November 2024. As the founding Chairman of GEG his vision was to build GEG into a globally recognized Asia’s leading gaming and ent
Slide 3: Chairman's statement: 2025 outlook
Mr. Francis Lui Yiu Tung, Chairman of GEG said: Looking forward in 2025, we will host a number of major sporting and entertainment events such as the world- renowned legendary Italian tenor, Andrea Bocelli at Galaxy Arena this March and the ITTF World Cup 2025 in April. Further, Hong Kong famous sin
Slide 4: Chairman's statement: resort enhancements
Mr. Francis Lui Yiu Tung, Chairman of GEG said: During the year we deployed smart tables across all of our casinos. We expect this technology to enhance the overall operating efficiency and customer management. In addition, we continue to make enhancements to our resorts including adding new F&B and
Slide 5: Executive Summary: GEG Well Positioned for Future Growth
Executive Summary GEG: Well Positioned for Future Growth Q4 2024 • Q4 Group Net Revenue of $11.3 billion, up 9% year-on-year and up 6% quarter-on-quarter • Q4 Group Adjusted EBITDA of $3.2 billion, up 15% year-on-year and up 10% quarter-on-quarter • Played unlucky in Q4 which decreased Adjusted EBIT
Slide 6: Executive Summary: Galaxy Macau
Executive Summary Galaxy Macau™: Primary Driver to Group Earnings Q4 2024 • Q4 Net Revenue of $9.1 billion, up 12% year-on-year and up 9% quarter-on-quarter • Q4 Adjusted EBITDA of $2.8 billion, up 11% year-on-year and up 11% quarter-on-quarter • Played unlucky in Q4 which decreased Adjusted EBITDA
Slide 7: Executive Summary: StarWorld Macau
Executive Summary StarWorld Macau: Continuing with Major Property Upgrades Q4 2024 • Q4 Net Revenue of $1.3 billion, up 3% year-on-year and down 4% quarter-on-quarter • Q4 Adjusted EBITDA of $363 million, up 3% year-on-year and down 8% quarter-on-quarter • Played unlucky in Q4 which decreased Adjust
Slide 8: Executive Summary: Broadway Macau, City Clubs and Construction Materials
Executive Summary Broadway Macau™, City Clubs and Construction Materials Division • Broadway Macau™: Full Year Adjusted EBITDA of $24 million, versus $(36) million in 2023. Q4 Adjusted EBITDA was $1 million, versus $(2) million in Q4 2023 and $11 million in Q3 2024 • City Clubs: Full Year Adjusted E
Slide 9: Executive Summary: Balance Sheet
Executive Summary Balance Sheet: Maintain a Healthy and Liquid Balance Sheet • As at 31 December 2024, cash and liquid investments were $31.3 billion and the net position was $27.1 billion after debt of $4.2 billion • Paid two dividends totaled $0.80 per share in 2024 • The GEG Board recommends a fi
Slide 10: Executive Summary: Development Update
Executive Summary Development Update: Capella at Galaxy Macau is targeted to open in mid-2025; Continue ramping up GICC, Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau; Progressing with Phase 4 • Capella at Galaxy Macau is targeted to open in mid-2025 • Cotai Phase 3 – Ramping up GICC, Galaxy
Slide 11: 2024 Annual Results
2024 Annual Results February 2025 11
Slide 12: GEG Revenue Summary FY2024
GEG Revenue Summary FY2024 Fiscal 2024 Net Revenue increased 22% YoY to $43.4 billion Full Year GEG Net Revenue (HK$’m) 2023 2024 $43,432 Net Revenue YoY $35,684 GEG Total +22% Galaxy Macau™ +24% $34,504 $27,717 CC, StarWorld Macau +15% CC, $222 $209 Broadway Macau™ +114% BW, $5,318 BW, $4,644 $103
Slide 13: GEG Adjusted EBITDA FY2024
GEG Adjusted EBITDA FY2024 Full Year Group Adjusted EBITDA of $12.2 billion, up 22 % year- on-year Full Year GEG Adjusted EBITDA (HK$’m) 2023 2024 $12,188 Adjusted EBITDA YoY $9,955 GEG Total +22% $10,794 Galaxy Macau™ +18% $9,149 CC, CC, StarWorld Macau +24% $15 $14 BW, Broadway Macau™ +167% $1,278
Slide 14: GEG FY2024 NPAS
GEG FY2024 NPAS FY2024 Net Profit Attributable to Shareholders of $8.8 billion, up 28% year-on-year (HK$’m) FY2023 FY2024 YoY% Net Revenue $35,684 $43,432 +22% Adjusted EBITDA $9,955 $12,188 +22% Net Profit Attributable to Shareholders $6,828 $8,759 +28% February 2025 14
Slide 15: Cash and Debt Update
Cash and Debt Update Balance Sheet: Maintain a Healthy and Liquid Balance Sheet • As at 31 December 2024, cash and liquid investments were $31.3 billion and net position was $27.1 billion after debt of $4.2 billion • Paid two dividends totaled $0.80 per share in 2024 • The GEG Board recommends a fin
Slide 16: Q4 2024 Results
Q4 2024 Results February 2025 16
Slide 17: GEG Revenue Q4 2024
GEG Revenue Q4 2024 Q4 Group Net Revenue of $11.3 billion, up 9% YoY and 6% QoQ GEG Net Revenue (HK$’m) 2023 Q4 2024 Q3 2024 Q4 YoY QoQ $11,294 $10,668 $10,319 GEG Total +9% +6% Galaxy Macau™ +12% +9% $8,406 $9,140 $8,191 StarWorld Macau +3% (4)% BW, $58 BW, BW, $38 $62 Broadway Macau™ +53% (6)% $1,
Slide 18: GEG Adjusted EBITDA Q4 2024
GEG Adjusted EBITDA Q4 2024 Q4 Group Adjusted EBITDA of $3.2 billion, up 15% year-on-year and up 10% quarter-on-quarter • Normalized Q4 Adjusted EBITDA of $3.3 billion, after adjusting for bad luck of approximately $35 million, up 12% year-on-year and up 5% quarter-on-quarter GEG Adjusted EBITDA (HK
Slide 19: Galaxy Macau
Galaxy Macau February 2025 19
Slide 20: Galaxy Macau Q4 2024
Galaxy Macau Q4 2024 Galaxy Macau™ Q4 Adjusted EBITDA of $2.8 billion, up 11% year-on-year and up 11% quarter-on-quarter Galaxy Macau YoY QoQ Net Revenue of $9.1 billion, up 12% YoY and 9% QoQ Total Gross Revenue +19% +10% • VIP win of $1.5 billion, up 73% YoY and 48% QoQ Total Net Revenue +12% +9
Slide 21: StarWorld Macau
StarWorld Macau February 2025 21
Slide 22: StarWorld Macau Q4 2024
StarWorld Macau Q4 2024 StarWorld Macau Q4 Adjusted EBITDA of $363 million, up 3% year-on-year and down 8% quarter-on-quarter StarWorld Macau YoY QoQ Net Revenue of $1.3 billion, up 3% YoY and down 4% QoQ Total Gross Revenue +5% (4)% • VIP win was $17 million, down 41%YoY and 77% QoQ Total Net Reven
Slide 23: Broadway Macau and City Clubs Q4 2024
Broadway Macau™ and City Clubs Q4 2024 Broadway Macau™ Q4 Adjusted City Clubs Q4 Adjusted EBITDA EBITDA was $1 million Vs $(2) was $(1) million, Vs $3 million in million in Q4 2023 and $11 million Q4 2023 and $6 million in Q3 2024 in Q3 2024 • Net Revenue of $36 million, down 37% YoY • Net Revenue o
Slide 24: Construction Materials Q4 2024
Construction Materials Q4 2024 Construction Materials Q4 Adjusted EBITDA increased 35% YoY and 29% QoQ to $277 million TKO 137 Concrete Batching Plant Adjusted EBITDA (HK$’m) $277 $205 $214 2023 Q4 2024 Q3 2024 Q4 February 2025 24
Slide 25: Selected Major Awards in 2024
Selected Major Awards in 2024 Award Presenter Casino Operator of the Year Global Gaming Awards Asia-Pacific 2024 GEG Sustainability Award International Gaming Awards 2024 Selected Restaurants Michelin One-Star Restaurant - Terrazza Italian Restaurant The MICHELIN Guide Hong Kong Macau - 8½ Otto e Me
Slide 26: Selected Major Awards in 2024
Selected Major Awards in 2024 Award Presenter My Favorite Hotel Restaurant – Feng Wei Ju iFood Award My Favorite Buffets - Temptation StarWorld Macau Golden Phoenix Tree China Restaurant Guide 2024 – Feng Wei Ju (One Star) ifeng food festival Macau Energy Saving Activity 2023 – Energy Saving Award (
Slide 27: GEG Development Update
GEG Development Update Galaxy Macau™ and StarWorld Macau • We continue to make ongoing progressive enhancements to our resorts to ensure that they remain competitive and appealing to our guests with a particular focus on adding new and innovative F&B and retail offerings • At StarWorld Macau we are
Slide 28: GEG Development Update: Cotai Phase 4
GEG Development Update Cotai - The Next Chapter • We are ramping up GICC, Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau • We are now firmly focused on the development of Phase 4, which is already well under way. Phase 4 will include multiple high-end hotel brands new to Macau, together with
Slide 29: Summary: Positioned for Growth
Summary Positioned for Growth Corporate – Well Positioned for Future Growth • FY2024 Net Revenue of $43.4 billion, up 22% year-on-year and Adjusted EBITDA of $12.2 billion, up 22% year-on-year • Q4 2024 Adjusted EBITDA of $3.2 billion, up 15% year-on-year and up 10% quarter- on-quarter • FY2024 Grou
Slide 30: Disclaimer
Disclaimer This document and any verbal presentation or discussion have been prepared by Galaxy Entertainment Group Limited (the “Company”) solely for your personal reference. The information provided has not been independently verified. No representation or warranty express or implied is made as to
Slide 31: Q4 and Annual Results 2024
Q4 and Annual Results 2024 27 February, 2025
Galaxy Entertainment Group — FY2024 Earnings Presentation on 6ix