Macau operator Galaxy Entertainment has posted record results for the first quarter, with revenue and adjusted EBITDA up over 30 per cent.
Both VIP and mass gaming grew during the quarter, with VIP revenue up 32 per cent to HK$14.6bn and mass up 37 per cent to HK$5.1bn. At Galaxy Macau, adjusted EBITDA has been on the rise for 11 consecutive quarters, rising to HK$2.8bn in the first quarter.
StarWorld Macau had its best quarter ever, with adjusted EBITDA rising 26 per cent to HK$1.1bn and revenues up 19 per cent to HK$6.8bn.
Meanwhile, Galaxy Macau’s second phase of development remains on budget and schedule, with completion slated for the middle of next year. The company is also finalising plans for its third and fourth phases of development on Cotai. Expansion plans for its Grand Waldo casino complex will be unveiled later this year.
