Galaxy Entertainment Group Limited · HKEX:27
Galaxy Entertainment — Q2 2026 Earnings Presentation
32 slides from Galaxy Entertainment's earnings presentation, Aug 12, 2026
Slide 1: Q2 & Interim Results 2026
Q2 & Interim Results 2026 12 August, 2026
Slide 2: Chairman's statement (1)
Mr. Francis Lui Yiu Tung, Chairman of GEG said: “Today, I am pleased to report the solid performance achieved by GEG and the broader Macau market during the second quarter and first half of 2026. Despite external macroeconomic headwinds, including geopolitical tensions in the Middle East, Macau rema
Slide 3: Chairman's statement (2)
Mr. Francis Lui Yiu Tung, Chairman of GEG said: World-class entertainment shows and sporting events continued to play a key role in attracting both new and repeat customers to Macau. In the first half of 2026, GEG hosted more than 170 concerts, entertainment shows, sporting and other events, includi
Slide 4: Executive Summary: GEG Well Positioned for Future Growth
Executive Summary GEG: Well Positioned for Future Growth Q2 2026 • Q2 Group Net Revenue of $11.8 billion, down 2% year-on-year and down 5% quarter-on-quarter • Q2 Group Adjusted EBITDA of $3.4 billion, down 5% year-on-year and down 5% quarter-on- quarter • Played unlucky in Q2 which decreased Adjust
Slide 5: Executive Summary: Galaxy Macau
Executive Summary Galaxy Macau : Primary Driver to Group Earnings Q2 2026 • Q2 Net Revenue of $9.9 billion, down 1% year-on-year and down 4% quarter-on-quarter • Q2 Adjusted EBITDA of $3.2 billion, down 4% year-on-year and down 4% quarter-on-quarter • Played unlucky in Q2 which decreased Adjusted EB
Slide 6: Executive Summary: StarWorld Macau
Executive Summary StarWorld Macau: Continuing with Major Property Upgrades Q2 2026 • Q2 Net Revenue of $1.2 billion, up 4% year-on-year and down 9% quarter-on-quarter • Q2 Adjusted EBITDA of $303 million, flat year-on-year and down 21% quarter-on-quarter • Played unlucky in Q2 which decreased Adjust
Slide 7: Executive Summary: Broadway Macau and Construction Materials Division
Executive Summary Broadway Macau and Construction Materials Division (“CMD”) • Broadway Macau : Q2 Adjusted EBITDA was breakeven, versus $4 million in Q2 2025 and $7 million in Q1 2026 • CMD: Q2 Adjusted EBITDA was $171 million, down 28% year-on-year and up 35% quarter-on- quarter August 2026 7
Slide 8: Executive Summary: Balance Sheet and Dividends
Executive Summary Balance Sheet: Remained Healthy and Liquid • As at 30 June 2026, cash and liquid investments were $37.7 billion and the net position was $35.9 billion after debt of $1.8 billion GEG Dividends • Paid the previously announced final dividend of $0.80 per share in June 2026 • Announced
Slide 9: Executive Summary: Development Update
Executive Summary Development Update: Continue to ramp up Capella at Galaxy Macau, Galaxy International Convention Center (GICC), Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau; Progressing with the fitting out of Phase 4 • Cotai Phase 3 – Continue to ramp up Capella at Galaxy Macau, GICC, Ga
Slide 10: Interim Results 2026
Interim Results 2026 August 2026 10
Slide 11: GEG Revenue Summary 1H 2026
GEG Revenue Summary 1H 2026 Group Net Revenue in the first half of 2026 was up 4% YoY to $24.2 billion GEG Gross Revenue (HK$’m) GEG Net Revenue (HK$’m) $31,118 $25,996 $29,479 $27,614 $24,231 $23,246 $26,434 $21,865 $24,968 $20,273 $23,029 BW, BW, $19,149 BW, $97 $108 $85 BW, BW, BW, $97 $108 $85 C
Slide 12: GEG Revenue Summary 1H 2026 (YoY and HoH)
GEG Revenue Summary 1H 2026 Group Net Revenue in the first half of 2026 was up 4% YoY to $24.2 billion Gross Net Gross Net YoY Revenue Revenue HoH Revenue Revenue GEG Total +7% +4% GEG Total (5)% (7)% Galaxy Macau +8% +6% Galaxy Macau (6)% (7)% StarWorld +7% +6% StarWorld +1% +1% Broadway Macau (12)
Slide 13: GEG Adjusted EBITDA Summary 1H 2026
GEG Adjusted EBITDA Summary 1H 2026 Group Adjusted EBITDA was $7.0 billion in the first half of 2026, up 1% YoY • Normalized 2026 1H Adjusted EBITDA was $7.0 billion after adjusting for bad luck of $23 million, up 14% YoY GEG Adjusted EBITDA (HK$’m) YoY HoH $7,637 $6,865 $6,956 GEG Total +1% (9)% Ga
Slide 14: Q2 2026 Results
Q2 2026 Results August 2026 14
Slide 15: GEG Revenue Q2 2026
GEG Revenue Q2 2026 Q2 Group Net Revenue of $11.8 billion, down 2% YoY and down 5% QoQ GEG Net Revenue (HK$’m) $12,044 $12,396 YoY QoQ $11,835 GEG Total (2)% (5)% $10,000 BW, $10,344 BW, $9,929 BW, Galaxy Macau (1)% (4)% $51 $44 $41 StarWorld Macau +4% (9)% CC, $42 $1,171 $1,342 $1,222 Broadway Maca
Slide 16: GEG Adjusted EBITDA Q2 2026
GEG Adjusted EBITDA Q2 2026 Q2 Group Adjusted EBITDA of $3.4 billion, down 5% YoY and down 5% QoQ • Normalized Q2 Adjusted EBITDA of $3.4 billion, after adjusting for bad luck of approximately $21 million, up 8% YoY and down 5% QoQ GEG Adjusted EBITDA (HK$’m) YoY QoQ $3,569 $3,576 GEG Total (5)% (5)
Slide 17: Galaxy Macau
EN ar GALAXY Sy, MACAL ae aR GEG August 2026 17
Slide 18: Galaxy Macau Q2 2026
Galaxy Macau Q2 2026 Galaxy Macau Q2 Adjusted EBITDA of $3.2 billion, down 4% YoY and down 4% QoQ Galaxy Macau YoY QoQ Net Revenue of $9.9 billion, down 1% YoY and down 4% QoQ Total Gross Revenue +1% (5)% • VIP win of $1.6 billion, down 32% YoY and down 30% QoQ Total Net Revenue (1)% (4)% Adjusted
Slide 19: StarWorld Macau
StarWorld Macau August 2026 19
Slide 20: StarWorld Macau Q2 2026
StarWorld Macau Q2 2026 StarWorld Macau Q2 Adjusted EBITDA of $303 million, flat YoY and down 21% QoQ StarWorld Macau YoY QoQ Net Revenue of $1.2 billion, up 4% YoY and down 9% QoQ Total Gross Revenue +5% (7)% • VIP win was $10 million, down 55% YoY and down 9% QoQ Total Net Revenue +4% (9)% Adjuste
Slide 21: Broadway Macau Q2 2026
Broadway Macau Q2 2026 Broadway Macau Q2 Adjusted EBITDA was breakeven, Vs $4 million in Q2 2025 and $7 million in Q1 2026 • Net Revenue of $41 million, down 20% YoY and down 7% QoQ Adjusted EBITDA (HK$’m) $7 $4 $- 2025 Q2 2026 Q1 2026 Q2 August 2026 21
Slide 22: Construction Materials Q2 2026
Construction Materials Q2 2026 Construction Materials Q2 Adjusted EBITDA down 28% YoY and up 35% QoQ to $171 million Concrete precast factory located at Shajing, Shenzhen Adjusted EBITDA (HK$’m) $238 $171 $127 2025 Q2 2026 Q1 2026 Q2 August 2026 22
Slide 23: Cash and Debt Update
Cash and Debt Update Balance Sheet: Remained Healthy and Liquid • As at 30 June 2026, cash and liquid investments were $37.7 billion and the net position was $35.9 billion after debt of $1.8 billion • Paid the previously announced final dividend of $0.80 per share in June 2026 • Announced an interim
Slide 24: Selected Major Awards in 1H 2026
Selected Major Awards in 1H 2026 Award Presenter Global Gaming Awards Asia-Pacific 2026 - Casino Operator of the Year Global Gaming Insider - Integrated Resort of the Year Macau Green Hotel Awards - Gold Award - Andaz Macau Environmental Protection - JW Marriott at Galaxy Macau Bureau GEG - The Ritz
Slide 25: Selected Major Awards in 1H 2026
Selected Major Awards in 1H 2026 Award Presenter Travel + Leisure Luxury Awards Asia Pacific 2026 Macau’s Best Hotel Pools Macau’s Best Hotel Spa Macau’s Best Hotels Travel and Leisure Luxury - Grand Resort Deck (First - Banyan Tree Spa Macau - Galaxy HotelTM Place) - The Ritz Carlton Spa - Raffles
Slide 26: Selected Major Awards in 1H 2026
Selected Major Awards in 1H 2026 Award Presenter The MICHELIN Guide Hong MICHELIN Two-Star Restaurant – Feng Wei Ju Kong Macau 2026 Tatler Best Hong Kong and Macau Awards 2026 - Tatler Best 20 Restaurants (Macau) Tatler Hong Kong - Feng Wei Ju StarWorld Macau 2026 Black Pearl Restaurant Guide - One
Slide 27: GEG Development Update
GEG Development Update Galaxy Macau and StarWorld Macau • We continue to enhance Galaxy Macau to ensure it remains competitive and appealing to guests, including through the addition of new F&B, lifestyle and retail offerings. This includes the recent opening of Estuary by Vicky Cheng, helmed by the
Slide 28: GEG Development Update: StarWorld Macau Upgrade
GEG Development Update StarWorld Macau Upgrade August 2026 28
Slide 29: GEG Development Update: Cotai Phase 4
GEG Development Update Cotai Phase 4 • We are progressing well with the fitting out of our approximately 600,000 sqm Phase 4 development. Market research and customer feedback indicate strong demand for premium products, including larger and more luxurious rooms with premium amenities and services.
Slide 30: Summary: Positioned for Growth
Summary Positioned for Growth Corporate – Well Positioned for Future Growth • 1H Group Adjusted EBITDA of $7.0 billion, up 1% YoY and down 9% HoH • Q2 Group Adjusted EBITDA of $3.4 billion, down 5% YoY and down 5% QoQ • Announced an interim dividend of $0.90 per share payable on or about on 15 Septe
Slide 31: 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 32: Q2 & Interim Results 2026
Q2 & Interim Results 2026 12 August, 2026
Galaxy Entertainment Group — Q2 2026 Earnings Presentation on 6ix