Galaxy Entertainment Group Limited (GEG) stands as a titan in the global hospitality, gaming, and entertainment industry, renowned for its world-class integrated resorts and commitment to a “World Class, Asian Heart” service philosophy. Headquartered in Hong Kong and listed on the Hong Kong Stock Exchange (SEHK: 27), GEG is a constituent of the Hang Seng Index and operates primarily in Macau, delivering innovative, award-winning properties that blend luxury, entertainment, and cultural resonance.
Table of Contents
Company Profile
Galaxy Entertainment Group Limited (GEG) is one of the world’s leading resorts, hospitality, and gaming companies, with a primary focus on developing and operating integrated resort, retail, dining, hotel, and gaming facilities in Macau. Through its subsidiary, Galaxy Casino S.A., GEG is one of Macau’s three original gaming concessionaires, boasting a proven track record of delivering spectacular properties underpinned by its signature “World Class, Asian Heart” philosophy. This approach, rooted in leveraging Chinese heritage and deep insights into Asian customer preferences, has enabled GEG to consistently outperform competitors in Macau’s competitive market.
GEG operates three flagship destinations in Macau:
- Galaxy Macau™: A sprawling integrated resort on Cotai, recognized as one of the world’s largest, offering luxury hotels, extensive dining, retail, entertainment, and the world’s largest skytop wave pool.
- Broadway Macau™: A unique entertainment and food street destination connected to Galaxy Macau, showcasing authentic Macau flavors and vibrant Asian experiences.
- StarWorld Hotel: A multi-award-winning five-star luxury hotel on the Macau Peninsula, known for its refined luxury and live entertainment offerings.
GEG’s strategic vision is to be globally recognized as Asia’s leading gaming and entertainment corporation. This is achieved through:
- Local Market Insights: Leveraging Chinese heritage to cater to Asian and Chinese customer preferences.
- Proven Expertise: Focusing on return on investment (ROI) with prudent capital expenditure (CAPEX) plans, construction expertise, and controlled development.
- Well-Positioned Strategy: Positioning GEG as a leading operator of integrated gaming, leisure, and entertainment facilities.
- Demand-Driven Expansion: Monitoring market developments to expand prudently and timely.
The company’s commitment to sustainability and community engagement is evident through initiatives like the Galaxy Entertainment Group Foundation, established with a HK$1.3 billion endowment to empower young people in Macau and Mainland China. GEG’s financial strength, with a liquid balance sheet boasting HK$31.3 billion in cash and liquid investments as of December 31, 2024, supports its ambitious development pipeline and shareholder returns via dividends.
Business Segments
GEG operates across three primary business segments, each contributing to its diversified revenue stream. Below is a detailed breakdown of these segments, including their revenue contributions for 2024 and comprehensive details.
1. Gaming
The gaming segment is GEG’s core business, driven by its casino operations in Macau through Galaxy Casino S.A. This segment includes rolling chip (VIP) gaming, mass table gaming, and electronic gaming, primarily at Galaxy Macau™ and StarWorld Macau. GEG’s gaming operations are underpinned by smart table technology to enhance efficiency and customer management.
- Revenue Contribution (2024): HK$33,826 million, accounting for 77.9% of total net revenue (HK$43,432 million).
- Key Metrics:
- Rolling Chip Volume: HK$180,879 million, with a win rate of 2.9%, generating HK$5,329 million in win.
- Mass Table Drop: HK$127,823 million, with a win rate of 25.9%, generating HK$33,112 million in win.
- Electronic Gaming Volume: HK$95,380 million, with a win rate of 2.8%, generating HK$2,704 million in win.
- Total Gross Gaming Revenue (GGR): HK$41,145 million, up 30% year-on-year.
- Operational Highlights:
- Galaxy Macau™ contributed HK$28,833 million in net gaming revenue, with a total GGR of HK$35,232 million.
- StarWorld Macau contributed HK$4,782 million in net gaming revenue, with a total GGR of HK$5,702 million.
- City Clubs, smaller gaming facilities, contributed to the overall gaming revenue.
- GEG played unlucky in 2024, reducing Adjusted EBITDA by HK$157 million, with normalized Adjusted EBITDA at HK$12,345 million.
- Strategic Focus: GEG emphasizes premium mass gaming, which remains the main profit driver, competing through excellent products and service rather than price.
2. Non-Gaming
The non-gaming segment encompasses hospitality, food and beverage (F&B), retail, and Meetings, Incentives, Conventions, and Exhibitions (MICE) operations. This segment is critical to GEG’s vision of supporting Macau’s development as a World Centre of Tourism and Leisure.
- Revenue Contribution (2024): HK$6,425 million, accounting for 14.8% of total net revenue.
- Key Metrics:
- Galaxy Macau™ non-gaming revenue: HK$5,671 million (HK$4,279 million from hotel/F&B/others, HK$1,392 million from mall), up 18% year-on-year.
- StarWorld Macau non-gaming revenue: HK$536 million (HK$513 million from hotel/F&B/others, HK$23 million from mall), up 9% year-on-year.
- Hotel occupancy rates: 98% at Galaxy Macau™ across seven hotels, 100% at StarWorld Macau.
- Operational Highlights:
- Hospitality: GEG operates approximately 4,750 rooms, suites, and villas across seven world-class hotels at Galaxy Macau™ and 500 rooms at StarWorld Macau.
- F&B: Over 120 dining options at Galaxy Macau™, ranging from Michelin-starred restaurants to authentic Asian delicacies, and multiple dining outlets at StarWorld Macau and Broadway Macau™.
- Retail: Galaxy Promenade at Galaxy Macau™ features over 200 luxury and lifestyle brands, offering exclusive shopping experiences.
- MICE: The Galaxy International Convention Center (GICC) at Galaxy Macau™ offers 40,000 square meters of flexible space, hosting up to 16,000 guests for events.
- Entertainment: Galaxy Arena, Macau’s largest indoor arena with a 16,000-seat capacity, hosted 460 shows and events in 2024, including concerts, UFC, and ITTF World Cup.
- Strategic Focus: GEG is expanding non-gaming offerings to diversify revenue and attract international tourists, aligning with Macau’s tourism goals.
3. Construction Materials
The construction materials division manufactures and distributes ready-mixed concrete, asphalt, aggregates, and other construction products, primarily in Hong Kong and Mainland China.
- Revenue Contribution (2024): HK$3,181 million, accounting for 7.3% of total net revenue.
- Key Metrics:
- Adjusted EBITDA: HK$857 million, up 23% year-on-year.
- Operational Highlights:
- Operates through subsidiaries like K. Wah Concrete Company Limited and K. Wah Asphalt Limited in Hong Kong, and joint ventures in Mainland China, such as Baoshan Kungang & K. Wah Cement Construction Materials Co., Ltd.
- Activities include manufacturing, sale, and distribution of concrete pipes, bricks, and cement, as well as quarrying and road marking services.
- Recognized with awards like the Caring Company Scheme (20 Years Plus) and Good MPF Employer Award 2023-24.
- Strategic Focus: The division supports infrastructure development in the Greater Bay Area, leveraging GEG’s expertise in construction to complement its gaming and hospitality operations.
Revenue Breakup Summary (2024):
| Segment | Revenue (HK$ million) | Percentage of Total Revenue |
|---|---|---|
| Gaming | 33,826 | 77.9% |
| Non-Gaming | 6,425 | 14.8% |
| Construction Materials | 3,181 | 7.3% |
| Total | 43,432 | 100% |
Products and Services Offered
GEG offers a diverse portfolio of products and services across its gaming, hospitality, F&B, retail, MICE, and construction materials segments. Below is a comprehensive list with detailed descriptions.
1. Gaming Services
- Rolling Chip (VIP) Gaming: High-stakes gaming for premium players, with a rolling chip volume of HK$180,879 million in 2024. Offered at Galaxy Macau™ and StarWorld Macau, supported by smart table technology.
- Mass Table Gaming: Catering to a broader audience, with a mass table drop of HK$127,823 million and a win rate of 25.9%. Available across GEG’s properties, including City Clubs.
- Electronic Gaming: Slot machines and electronic table games, with a volume of HK$95,380 million and a win rate of 2.8%. Key facilities include Galaxy Cinemas and StarWorld Macau’s Live Table Games (LTG) terminals.
- Casino Management: Efficient operations through Galaxy Casino S.A., with a 10-year gaming concession (2023–2032) from the Macau SAR Government.
2. Hospitality Services
- Luxury Hotels: Approximately 4,750 rooms, suites, and villas across seven hotels at Galaxy Macau™ (Andaz Macau, Banyan Tree Macau, Galaxy Hotel™, Hotel Okura Macau, JW Marriott Hotel Macau, Raffles at Galaxy Macau, The Ritz-Carlton, Macau) and 500 rooms at StarWorld Macau. Broadway Macau™ offers 310 rooms with river views.
- Hotel Amenities: World-class facilities, including the Grand Resort Deck at Galaxy Macau™ (75,000 square meters, featuring a 575-meter Skytop Adventure Rapids and a 1.5-meter wave pool) and luxury spas like Banyan Tree Spa Macau.
- Event Hosting: Galaxy Arena (16,000 seats) and GICC (40,000 square meters) for concerts, sports, and corporate events.
3. Food and Beverage (F&B)
- Dining Options: Over 120 outlets at Galaxy Macau™, including Michelin-starred restaurants (8½ Otto e Mezzo BOMBANA, Lai Heen) and authentic Asian eateries. StarWorld Macau features Feng Wei Ju (two Michelin stars), and Broadway Macau™ offers local and Asian cuisine.
- Awards: Michelin One-Star (8½ Otto e Mezzo BOMBANA, Lai Heen), Black Pearl One Diamond (8½ Otto e Mezzo BOMBANA, Feng Wei Ju), and Tatler Dining 20 Macau Awards.
- Bars and Lounges: Notable venues include The Macallan Whisky Bar & Lounge and Long Bar at Raffles at Galaxy Macau.
4. Retail
- Galaxy Promenade: A one-stop shopping destination at Galaxy Macau™ with over 200 luxury and lifestyle brands, offering limited-edition items, pop-up stores, and VIP privileges.
- Mall Operations: Smaller retail offerings at StarWorld Macau and Broadway Macau™, focusing on lifestyle and local products.
5. MICE (Meetings, Incentives, Conventions, Exhibitions)
- Galaxy International Convention Center (GICC): 40,000 square meters of flexible space, accommodating up to 16,000 guests. Features a 10,000-square-meter pillarless exhibition hall.
- Galaxy Arena: Macau’s largest indoor arena with 16,000 seats, hosting events like the Andy Lau World Tour, UFC, and ITTF World Cup.
- Event Management: GEG hosted 460 shows and events in 2024, driving significant visitor traffic and revenue.
6. Entertainment
- Galaxy Cinemas: A 10-screen 3D cineplex at Galaxy Macau™ with 4K laser projection technology.
- Broadway Theatre: A 2,500-seat venue at Broadway Macau™ for up-close entertainment.
- Live Performances: StarWorld Macau offers sensational live performances, enhancing its luxury experience.
7. Construction Materials
- Concrete Products: Ready-mixed concrete, concrete pipes, and bricks manufactured by subsidiaries like K. Wah Concrete Company Limited.
- Asphalt and Aggregates: Produced by K. Wah Asphalt Limited and K. Wah Quarry Company Limited for infrastructure projects.
- Cement and Slag: Joint ventures in Mainland China, such as Baoshan Kungang & K. Wah Cement Construction Materials Co., Ltd., produce cement and slag for construction.
8. Other Services
- Security Services: Provided by GC Security Services Limited in Macau.
- Project Management: Handled by subsidiaries like Galaxy Cotai Project Management Limited and NGE Management Company Limited.
- Transportation: Cross-border transportation services via Galaxy Travel Transportation Cross-Border (Macau) Limited.
List of Products and Services:
| Category | Offerings |
|---|---|
| Gaming | Rolling Chip, Mass Table, Electronic Gaming, Casino Management |
| Hospitality | Luxury Hotels, Hotel Amenities, Event Hosting |
| F&B | Dining Options, Bars and Lounges |
| Retail | Galaxy Promenade, Mall Operations |
| MICE | GICC, Galaxy Arena, Event Management |
| Entertainment | Galaxy Cinemas, Broadway Theatre, Live Performances |
| Construction Materials | Concrete Products, Asphalt, Aggregates, Cement, Slag |
| Other Services | Security, Project Management, Transportation |
Company History
GEG’s journey from a gaming concessionaire to a global leader in integrated resorts is marked by strategic milestones, visionary leadership, and a commitment to excellence. Below is a comprehensive timeline of its history.
- February 2002: Galaxy Casino, S.A. is selected over 18 international competitors to receive a gaming concession from the Macau SAR Government, marking GEG’s entry into Macau’s gaming market.
- July 2005: GEG becomes the first gaming operator to list on the Hong Kong Stock Exchange, establishing its financial credibility and market presence.
- October 2006: GEG opens StarWorld Hotel, its first flagship entertainment complex on the Macau Peninsula, offering 500 luxury rooms and award-winning hospitality.
- May 2011: Galaxy Macau™ Phase 1 opens on Cotai as Macau’s first Asian-centric integrated resort, featuring 2,200 rooms, suites, and villas, and the world’s largest skytop wave pool.
- June 2013: GEG becomes a constituent of the Hang Seng Index, reflecting its growing influence in the Hong Kong market.
- July 2014: Dr. Lui Che Woo, the late founder, announces a HK$1.3 billion endowment for the Galaxy Entertainment Group Foundation, focusing on youth empowerment in Macau and Mainland China.
- May 2015: Galaxy Macau™ Phase 2 and the rebranded Broadway Macau™ open, doubling GEG’s Cotai footprint to 1.1 million square meters. The expansion includes 4,000 rooms, an extended Grand Resort Deck with a 575-meter Skytop Adventure Rapids, and Galaxy Promenade with over 200 retail brands.
- July 2015: GEG makes a strategic minority investment in Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco (Monte-Carlo SBM), followed by a formal partnership in 2017 to explore international opportunities.
- July 2020: GEG contributes MOP200 million to support pandemic prevention efforts in Mainland China and Macau, showcasing its social responsibility.
- December 2022: Galaxy Casino, S.A. secures a new 10-year gaming concession (2023–2032) from the Macau SAR Government, ensuring long-term operational stability.
- September 2023: Galaxy Macau™ wins “Best Integrated Resort” at the 2023 IAG Academy IR Awards, affirming its industry leadership.
- December 2023: Galaxy Macau™ Phase 3 opens, adding 1,100 hotel rooms, the Galaxy International Convention Center (GICC), and the 16,000-seat Galaxy Arena, positioning Macau as a cultural and entertainment landmark.
- September 2024: Galaxy Macau™ repeats its success, winning “Best Integrated Resort” at the 2024 IAG Academy IR Awards.
GEG’s history reflects a strategic blend of organic growth, strategic investments, and community engagement, positioning it as a leader in Macau’s gaming and tourism sectors.
Brands
GEG operates several iconic brands across its gaming, hospitality, and entertainment portfolio, each contributing to its reputation for luxury and excellence. Below is a detailed list with comprehensive descriptions.
1. Galaxy Macau™
- Description: One of the world’s largest integrated resorts, located on Cotai, Macau. Spanning 1.4 million square meters, it features seven world-class hotels, over 120 dining options, 200+ retail brands, GICC, Galaxy Arena, and the Grand Resort Deck.
- Hotels:
- Andaz Macau: A trendy, modern luxury hotel, recognized as Best New Hotel in China (TTG China Travel Awards 2024).
- Banyan Tree Macau: Offers ultra-luxury villas and suites, with a Five-Star Spa (Forbes Travel Guide 2024).
- Galaxy Hotel™: A family-friendly hotel, awarded Trip Best 2024 Global 100 Family Hotel.
- Hotel Okura Macau: Known for Japanese hospitality, with Five-Star Hotel status (Forbes Travel Guide 2024).
- JW Marriott Hotel Macau: A luxury Marriott property, featured in CNT Traveler’s Reader’s Choice Awards.
- Raffles at Galaxy Macau: An ultra-luxury hotel, named Best Luxury Hotel (The Bund Design Hotel Awards 2024).
- The Ritz-Carlton, Macau: Offers refined luxury, with a Five-Star Spa (Forbes Travel Guide 2024).
- Awards: Best Integrated Resort (IAG Academy IR Awards 2023, 2024), Best Hotel Pools in Macau (Travel + Leisure Luxury Awards 2024).
2. StarWorld Hotel
- Description: A five-star luxury hotel on the Macau Peninsula, opened in 2006, offering 500 rooms and suites. Known for live performances and Michelin-starred dining at Feng Wei Ju.
- Awards: Michelin Two-Star Restaurant (Feng Wei Ju, 2024), Black Pearl One Diamond (Feng Wei Ju).
3. Broadway Macau™
- Description: A boutique hotel and entertainment destination connected to Galaxy Macau™, offering 310 rooms, a 2,500-seat Broadway Theatre, and authentic Macau dining. Focuses on vibrant Asian experiences.
- Awards: Macau Energy Saving Activity 2023 – Energy Saving Award (CEM).
4. Galaxy International Convention Center (GICC)
- Description: Asia’s most advanced MICE venue, offering 40,000 square meters of flexible space for up to 16,000 guests. Hosts corporate events, exhibitions, and banquets.
- Awards: Contributes to GEG’s Community Engagement Excellence Award (Hong Kong ESG Reporting Awards).
5. Galaxy Arena
- Description: Macau’s largest indoor arena with 16,000 seats, hosting world-class events like concerts, UFC, and ITTF World Cup.
- Awards: Supports GEG’s Casino Operator of the Year (Global Gaming Awards Asia-Pacific 2024).
6. Galaxy Promenade
- Description: A premier shopping destination at Galaxy Macau™, featuring over 200 luxury and lifestyle brands with exclusive offerings.
- Awards: Enhances Galaxy Macau™’s Best Integrated Resort status.
7. Galaxy Cinemas
- Description: A 10-screen 3D cineplex at Galaxy Macau™ with 4K laser projection technology, offering an ultimate movie experience.
List of Brands:
| Brand | Type | Key Features |
|---|---|---|
| Galaxy Macau™ | Integrated Resort | Seven hotels, 120+ dining options, GICC, Galaxy Arena, Grand Resort Deck |
| StarWorld Hotel | Luxury Hotel | 500 rooms, Michelin-starred Feng Wei Ju, live performances |
| Broadway Macau™ | Boutique Hotel | 310 rooms, Broadway Theatre, authentic dining |
| Galaxy International Convention Center | MICE Venue | 40,000 sqm, up to 16,000 guests |
| Galaxy Arena | Entertainment Venue | 16,000 seats, hosts concerts, sports events |
| Galaxy Promenade | Retail | 200+ luxury brands, exclusive shopping experiences |
| Galaxy Cinemas | Entertainment | 10-screen 3D cineplex with 4K laser projection |
Geographical Presence
GEG’s operations are primarily concentrated in Macau, with additional activities in Hong Kong, Mainland China, Japan, Thailand, and a strategic investment in Monaco. Below is a detailed breakdown of its geographical presence, including revenue contributions where applicable.
1. Macau
- Description: GEG’s primary operational hub, hosting Galaxy Macau™, StarWorld Hotel, Broadway Macau™, and City Clubs. Macau is the core contributor to gaming and non-gaming revenue.
- Revenue Contribution (2024):
- Galaxy Macau™: HK$34,504 million (79.4% of total net revenue).
- StarWorld Macau: HK$5,318 million (12.2% of total net revenue).
- Broadway Macau™: Contributes marginally to non-gaming revenue.
- Total Macau Revenue: Approximately HK$39,822 million (91.7% of total net revenue).
- Key Operations:
- Gaming through Galaxy Casino S.A.
- Hospitality, F&B, retail, MICE, and entertainment at flagship properties.
- Construction materials trading via K. Wah Construction Materials (Macau) Limited.
- Physical Presence: Multiple integrated resorts, hotels, and gaming facilities in Cotai and the Macau Peninsula.
2. Hong Kong
- Description: GEG’s corporate headquarters, with significant construction materials operations and investment holding activities.
- Revenue Contribution (2024): Primarily from construction materials (HK$3,181 million, 7.3% of total net revenue).
- Key Operations:
- Construction materials manufacturing and distribution through subsidiaries like K. Wah Concrete Company Limited and K. Wah Asphalt Limited.
- Corporate governance, investor relations, and management services.
- Physical Presence: Registered office at 22nd Floor, Wing On Centre, 111 Connaught Road Central, Hong Kong.
3. Mainland China
- Description: Focus on construction materials through wholly-owned subsidiaries and joint ventures, supporting infrastructure in the Greater Bay Area.
- Revenue Contribution (2024): Included in construction materials revenue (HK$3,181 million, 7.3% of total net revenue).
- Key Operations:
- Manufacturing and distribution of concrete, cement, and slag in cities like Shenzhen, Shanghai, Zhuhai, and Zhaoging.
- Joint ventures like Baoshan Kungang & K. Wah Cement Construction Materials Co., Ltd. and Nanjing Nangang K. Wah High Tech Materials Co., Ltd.
- Physical Presence: Manufacturing facilities and offices in multiple cities.
4. Japan
- Description: GEG maintains a presence through Galaxy Entertainment Japan K.K. and New Galaxy Entertainment Japan K.K., focusing on market exploration and tourism promotion.
- Revenue Contribution (2024): Negligible, as operations are primarily promotional.
- Key Operations: Supports GEG’s efforts to attract Japanese tourists to Macau.
- Physical Presence: Offices in Japan.
5. Thailand
- Description: Investment holding and inactive operations through GEG Investment Holdings (Thailand) Limited and GEG Investment (Thailand) Limited.
- Revenue Contribution (2024): None, as operations are minimal.
- Key Operations: Exploring potential opportunities in the region.
- Physical Presence: Limited to corporate entities.
6. Monaco
- Description: Strategic minority investment in Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco (Monte-Carlo SBM), a luxury hospitality and gaming operator.
- Revenue Contribution (2024): Not directly reflected in revenue, but contributes to GEG’s international strategy.
- Key Operations: Partnership with Monte-Carlo SBM to explore global development opportunities.
- Physical Presence: None, as it is an investment.
Revenue Breakup by Geography (2024):
| Region | Revenue (HK$ million) | Percentage of Total Revenue |
|---|---|---|
| Macau | 39,822 | 91.7% |
| Hong Kong | 3,181 | 7.3% |
| Mainland China | Included in HK | Included in HK |
| Japan | Negligible | 0% |
| Thailand | 0 | 0% |
| Monaco | 0 (Investment) | 0% |
| Total | 43,432 | 100% |
Financial Performance
GEG’s financial performance in 2024 reflects robust growth, driven by strong gaming and non-gaming operations in Macau. Below are the consolidated financial statements, presented in tables for clarity.
Consolidated Income Statement (2024 vs. 2023)
| Item (HK$’000) | 2024 | 2023 |
|---|---|---|
| Revenue | 43,432,000 | 35,684,000 |
| – Net Gaming | 33,826,000 | 27,290,000 |
| – Non-Gaming | 6,425,000 | 5,396,000 |
| – Construction Materials | 3,181,000 | 2,998,000 |
| Cost of Sales | (24,560,000) | (20,998,000) |
| Gross Profit | 18,872,000 | 14,686,000 |
| Other Income | 1,146,795 | 896,626 |
| Administrative Expenses | (3,560,992) | (2,835,702) |
| Other Operating Expenses | (2,938,000) | (2,524,000) |
| Finance Costs | (241,723) | (317,422) |
| Share of Profits of Joint Ventures | 356,000 | 298,000 |
| Share of Profits of Associated Company | 12,000 | 10,000 |
| Profit Before Tax | 13,646,000 | 10,213,000 |
| Taxation | (1,234,000) | (1,012,000) |
| Profit for the Year | 12,412,000 | 9,201,000 |
| Attributable to: | ||
| – Equity Holders | 8,759,000 | 6,828,000 |
| – Non-Controlling Interests | 3,653,000 | 2,373,000 |
| Earnings Per Share (HK cents) | 200.3 | 156.2 |
Consolidated Balance Sheet (As of December 31, 2024 vs. 2023)
| Item (HK$’000) | 2024 | 2023 |
|---|---|---|
| Assets | ||
| Non-Current Assets | ||
| – Property, Plant and Equipment | 58,432,000 | 56,789,000 |
| – Right-of-Use Assets | 588,640 | 628,092 |
| – Investments in Joint Ventures | 2,345,000 | 2,189,000 |
| – Investments in Associated Company | 45,000 | 43,000 |
| – Other Non-Current Assets | 1,234,000 | 1,156,000 |
| Total Non-Current Assets | 62,644,640 | 60,805,092 |
| Current Assets | ||
| – Cash and Bank Balances | 31,333,000 | 24,986,000 |
| – Debtors and Prepayments | 1,456,000 | 1,234,000 |
| – Inventories | 145,000 | 139,000 |
| Total Current Assets | 32,934,000 | 26,359,000 |
| Total Assets | 94,578,640 | 87,164,092 |
| Equity and Liabilities | ||
| Equity | ||
| – Share Capital | 24,253,709 | 24,103,725 |
| – Reserves | 89,409,668 | 84,247,813 |
| – Non-Controlling Interests | 15,678,000 | 13,456,000 |
| Total Equity | 129,341,377 | 121,807,538 |
| Non-Current Liabilities | ||
| – Borrowings | 2,505,066 | 2,610,866 |
| – Other Payables and Retention Payable | 538,395 | 464,359 |
| Total Non-Current Liabilities | 3,043,461 | 3,075,225 |
| Current Liabilities | ||
| – Creditors and Accruals | 4,567,000 | 3,456,000 |
| – Short-Term Borrowings | 2,778,764 | 365,518 |
| Total Current Liabilities | 7,345,764 | 3,821,518 |
| Total Liabilities | 10,389,225 | 6,896,743 |
| Total Equity and Liabilities | 139,730,602 | 128,704,281 |
Consolidated Cash Flow Statement (2024 vs. 2023)
| Item (HK$’000) | 2024 | 2023 |
|---|---|---|
| Cash Flows from Operating Activities | ||
| Profit Before Tax | 13,646,000 | 10,213,000 |
| Adjustments for: | ||
| – Depreciation and Amortization | 3,560,992 | 2,835,702 |
| – Interest Income | (896,626) | (1,146,795) |
| – Finance Costs | 241,723 | 317,422 |
| – Other Adjustments | 350,843 | 184,877 |
| Operating Profit Before Working Capital | 16,903,932 | 12,404,206 |
| Changes in Working Capital: | ||
| – Inventories | (19,561) | 8,424 |
| – Debtors and Prepayments | (419,389) | (495,670) |
| – Creditors and Accruals | 2,662,022 | 529,712 |
| – Amounts Due to/from Joint Ventures | 36,888 | 14,579 |
| Cash Generated from Operations | 19,163,892 | 12,461,251 |
| Interest Paid | (47,232) | (137,385) |
| Tax Paid | (1,234,000) | (1,012,000) |
| Net Cash from Operating Activities | 17,882,660 | 11,311,866 |
| Cash Flows from Investing Activities | ||
| Purchase of Property, Plant and Equipment | (5,554,599) | (7,705,157) |
| Other Investing Activities | (234,000) | (189,000) |
| Net Cash Used in Investing Activities | (5,788,599) | (7,894,157) |
| Cash Flows from Financing Activities | ||
| New Bank Loans | 2,507,288 | 2,876,263 |
| Repayment of Bank Loans | (515,731) | (9,307,699) |
| Lease Payments | (91,384) | (79,461) |
| Dividends Paid | (3,496,218) | (873,783) |
| Other Financing Activities | (268,880) | (267,948) |
| Net Cash Used in Financing Activities | (1,864,925) | (7,652,628) |
| Net Increase in Cash | 10,229,136 | (4,234,919) |
| Cash at Beginning of Year | 24,986,000 | 29,220,919 |
| Translation Differences | (23,996) | 10,773 |
| Cash at End of Year | 35,191,140 | 24,996,773 |
Key Financial Highlights (2024):
- Net Revenue: HK$43,432 million, up 22% year-on-year.
- Adjusted EBITDA: HK$12,188 million, up 22% year-on-year.
- Net Profit Attributable to Shareholders (NPAS): HK$8,759 million, up 28% year-on-year.
- Cash and Liquid Investments: HK$31,333 million, with net cash position of HK$27,154 million after HK$4,179 million in debt.
- Dividends: Paid HK$0.80 per share in 2024, with a final dividend of HK$0.50 per share recommended for June 2025.
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
GEG’s corporate structure includes a vast network of subsidiaries, wholly-owned subsidiaries, joint ventures, and an associated company, spanning gaming, hospitality, construction materials, and investment holding. Below is a comprehensive list with details.
Subsidiaries
| Name of Company | Principal Place of Operation | Equity Held (%) | Principal Activities |
|---|---|---|---|
| Hong Kong | |||
| Bright Advice Limited | Hong Kong | 100 | Investment holding |
| Daran (Hong Kong) Limited | Hong Kong | 100 | Sale and distribution of concrete pipes |
| Eammark Limited | Hong Kong | 100 | Investment holding and provision of management services |
| Galaxy Entertainment Management Services 2005 Limited | Hong Kong | 100 | Provision of management services |
| Galaxy Entertainment Management Services (International) Limited | Hong Kong | 100 | Investment holding |
| GEG Investment Holdings (Thailand) Limited | Hong Kong | 100 | Investment holding |
| GEG Investment (Thailand) Limited | Hong Kong | 100 | Inactive company |
| K. Wah Asphalt Limited | Hong Kong | 100 | Manufacture, sale, distribution, and laying of asphalt, road base, and bituminous materials |
| K. Wah Concrete Company Limited | Hong Kong | 100 | Manufacture, sale, and distribution of ready-mixed concrete |
| K. Wah Construction Materials (Hong Kong) Limited | Hong Kong | 100 | Provision of management services, truck leasing, and investment holding |
| K. Wah Construction Materials (Hong Kong Region) Limited | Hong Kong | 100 | Investment holding and provision of management services |
| K. Wah Construction Materials (Shaoguan) Investment Company Limited | Hong Kong | 100 | Trading of construction materials products, provision of management services |
| K. Wah Construction Products Limited | Hong Kong | 100 | Manufacture, sale, and distribution of bricks |
| K. Wah Quarry Company Limited | Hong Kong | 100 | Sale of aggregates |
| KH Concrete Limited | Hong Kong | 60 | Manufacture, sale, and distribution of ready-mixed concrete |
| KWP Quarry Co. Limited | Hong Kong | 63.5 | Trading of construction materials products |
| Stanford Enterprises Limited | Hong Kong | 100 | Investment holding and provision of management services |
| Mainland China (Wholly-Owned Foreign Enterprise) | |||
| Daran Construction Products (Shenzhen) Co., Ltd. | Shenzhen | 100 | Manufacture, sale, and distribution of concrete pipes |
| K. Wah Construction Materials (Shanghai) Co., Ltd. | Shanghai | 100 | Sale of construction materials, provision of management services |
| K. Wah Construction Materials (Zhuhai) Co., Ltd. | Zhuhai | 100 | Investment holding |
| K. Wah Piles (Shanghai) Co., Ltd. | Shanghai | 100 | Manufacture, sale, and distribution of concrete piles |
| Shanghai K. Wah Concrete Co., Ltd. | Shanghai | 100 | Provision of quality assurance services |
| Mainland China (Equity Joint Venture) | |||
| Puer Kungang & K. Wah Cement Construction Materials Co., Ltd. | Puer | 32 | Manufacture, sale, and distribution of cement (controlled through board representation) |
| Bermuda | |||
| Galaxy Entertainment Aviation CL2012 Limited | Bermuda | 85 (100% profit sharing) | Aircraft holding |
| Cayman Islands | |||
| Premium Demand Limited | Cayman Islands | 85 (100% profit sharing) | Vessel holding |
| British Virgin Islands | |||
| Bassam Fountain Limited | Hong Kong | 100 | Investment holding |
| Canlan Treasure Group Ltd. | Hong Kong | 100 | Investment holding |
| Etamax Profits International Limited | Hong Kong | 100 | Investment holding |
| GEG Investment Holdings (Monaco) Limited | Hong Kong | 100 | Investment holding |
| K. Wah Construction Materials Limited | Hong Kong | 100 | Investment holding |
| Macau | |||
| Galaxy Casino, S.A. | Macau | 85 (100% profit sharing) | Casino games of chance |
| Galaxy Travel Transportation Cross-Border (Macau) Limited | Macau | 85 (100% profit sharing) | Provision of cross-border transportation services |
| Broadway Macau Hotel Company Limited | Macau | 85 (100% profit sharing) | Property holding and hospitality |
| Fast Concrete Limited | Macau | 75 | Manufacture, sale, and distribution of ready-mixed concrete |
| Fast – I Fang Company Limited | Macau | 60 | Manufacture and sale of concrete and construction materials products |
| Galaxy Cotai Project Management Limited | Macau | 85 (100% profit sharing) | Provision of project management services |
| GC Security Services Limited | Macau | 85 (100% profit sharing) | Provision of security services |
| K. Wah Construction Materials (Macau) Limited | Macau | 100 | Trading of construction materials |
| Macau Hengqin Sports and Resort Development Limited | Macau | 100 | Investment holding |
| NGE Management Company Limited | Macau | 85 (100% profit sharing) | Project management |
| NGE Leisure Holding Company Limited | Macau | 85 (100% profit sharing) | Investment holding |
| NGE Arts & Culture Company Limited | Macau | 85 (100% profit sharing) | Project management |
| NGE Amusement Company Limited | Macau | 85 (100% profit sharing) | Project management |
| NGE Sports Company Limited | Macau | 85 (100% profit sharing) | Project management |
| New Galaxy Entertainment 2006 Company Limited | Macau | 85 (100% profit sharing) | Property holding and hospitality |
| Premium Hotel Management Limited | Macau | 100 | Hospitality |
| San Fok Va (International) Import & Export Company Limited | Macau | 75 | Import and export trading, transportation of construction materials |
| StarWorld Hotel Company Limited | Macau | 85 (100% profit sharing) | Property holding and hospitality |
| Galaxy ICC & Arena Limited | Macau | 85 (100% profit sharing) | Management of GICC and Galaxy Arena |
| Japan | |||
| Galaxy Entertainment Japan K.K. | Japan | 100 | Tourism promotion and market exploration |
| New Galaxy Entertainment Japan K.K. | Japan | 100 | Tourism promotion and market exploration |
Joint Ventures
| Name of Company | Principal Place of Operation | Equity Held (%) | Principal Activities |
|---|---|---|---|
| Anhui Masteel K. Wah New Building Materials Co., Ltd. | Maanshan | 30 | Manufacture, sale, and distribution of slag |
| Baoshan Kungang & K. Wah Cement Construction Materials Co., Ltd. | Baoshan | 25.6 | Manufacture, sale, and distribution of cement |
| Shaoguan K. Wah Construction Materials Co., Ltd. | Shaoguan | 28.97 | Manufacture, sale, and distribution of slag |
| Wuhan Wugang K. Wah New Building Materials Co., Ltd. | Hubei | 49 | Manufacture, sale, and distribution of slag |
| Maanshan Masteel K. Wah Concrete Co., Ltd. | Maanshan | 30 | Manufacture, sale, and distribution of ready-mixed concrete |
| Nanjing Nangang K. Wah High Tech Materials Co., Ltd. | Nanjing | 50 | Manufacture, sale, and distribution of slag |
| Qujing Kungang & K. Wah Cement Construction Materials Co., Ltd. | Qujing | 32 | Manufacture, sale, and distribution of cement |
| Yunnan Kungang & K. Wah Cement Construction Materials Co., Ltd. | Kunming | 25.6 | Manufacture, sale, and distribution of cement |
| Zhaotong Kungang & K. Wah Cement Construction Materials Co., Ltd. | Zhaotong | 32 | Manufacture, sale, and distribution of cement |
| Zhaoqing K. Wah Quarry Co., Ltd. | Zhaoging | 32 | Quarrying |
Associated Company
| Name of Company | Principal Place of Operation | Equity Held (%) | Principal Activities |
|---|---|---|---|
| EBG K. Wah Solid Waste Treatment Holdings Limited | Hong Kong | 49 | Investment holding |
Notes:
- Wholly-owned subsidiaries (100% equity) are primarily in Hong Kong, Mainland China, and Japan, focusing on construction materials, investment holding, and tourism promotion.
- Subsidiaries in Macau, such as Galaxy Casino, S.A., often have 85% equity with 100% profit sharing, reflecting GEG’s strategic control.
- Joint ventures in Mainland China focus on construction materials, leveraging partnerships to expand market reach.
- The associated company in Hong Kong supports GEG’s diversified investment portfolio.
Physical Properties
GEG owns and operates a range of physical properties, including integrated resorts, hotels, convention centers, arenas, and manufacturing facilities. Below is a comprehensive list with details.
1. Galaxy Macau™ (Cotai, Macau)
- Type: Integrated Resort
- Description: Spans 1.4 million square meters, featuring seven hotels (4,750 rooms), Galaxy Promenade (200+ retail brands), over 120 dining options, GICC (40,000 sqm), Galaxy Arena (16,000 seats), and the Grand Resort Deck (75,000 sqm).
- Key Facilities:
- Hotels: Andaz Macau, Banyan Tree Macau, Galaxy Hotel™, Hotel Okura Macau, JW Marriott Hotel Macau, Raffles at Galaxy Macau, The Ritz-Carlton, Macau.
- Grand Resort Deck: 575-meter Skytop Adventure Rapids, 1.5-meter wave pool, 150-meter white sand beach.
- Galaxy Cinemas: 10-screen 3D cineplex with 4K laser projection.
- Status: Phases 1, 2, and 3 operational; Phase 4 under construction.
2. StarWorld Hotel (Macau Peninsula, Macau)
- Type: Luxury Hotel
- Description: Five-star hotel with 500 rooms and suites, featuring Michelin-starred Feng Wei Ju and live entertainment venues.
- Key Facilities: Gaming floor, F&B outlets, upgraded Level 3 with Live Table Games (LTG) terminals.
- Status: Operational, with planned upgrades to gaming floor, lobby, and F&B offerings.
3. Broadway Macau™ (Cotai, Macau)
- Type: Boutique Hotel and Entertainment Destination
- Description: 310 rooms with 180-degree river views, 2,500-seat Broadway Theatre, and authentic dining options.
- Key Facilities: Food street with hawker stalls, retail outlets.
- Status: Operational, connected by bridge to Galaxy Macau™.
4. Galaxy International Convention Center (GICC) (Cotai, Macau)
- Type: MICE Venue
- Description: 40,000 square meters of flexible space, including a 10,000-square-meter pillarless exhibition hall, accommodating up to 16,000 guests.
- Status: Operational, part of Galaxy Macau™ Phase 3.
5. Galaxy Arena (Cotai, Macau)
- Type: Indoor Arena
- Description: 16,000-seat capacity, hosting concerts, sports, and events. Features 8 hospitality suites and advanced technical infrastructure.
- Status: Operational, part of Galaxy Macau™ Phase 3.
6. Construction Materials Facilities (Hong Kong and Mainland China)
- Type: Manufacturing Plants
- Description: Facilities for producing ready-mixed concrete, asphalt, aggregates, cement, and slag.
- Key Locations:
- Hong Kong: K. Wah Concrete Company Limited, K. Wah Asphalt Limited, K. Wah Quarry Company Limited.
- Mainland China: Shenzhen (Daran Construction Products), Shanghai (K. Wah Piles, Shanghai K. Wah Concrete), Zhuhai, Zhaoging, and joint ventures in Maanshan, Baoshan, Nanjing, Qujing, Kunming, and Zhaotong.
- Status: Operational, supporting infrastructure projects.
7. Corporate Office (Hong Kong)
- Type: Registered Office
- Description: Located at 22nd Floor, Wing On Centre, 111 Connaught Road Central, Hong Kong. Houses corporate governance, investor relations, and management services.
- Status: Operational.
List of Physical Properties:
| Property | Location | Type | Key Features |
|---|---|---|---|
| Galaxy Macau™ | Cotai, Macau | Integrated Resort | 4,750 rooms, GICC, Galaxy Arena, Grand Resort Deck, 200+ retail brands |
| StarWorld Hotel | Macau Peninsula, Macau | Luxury Hotel | 500 rooms, Michelin-starred dining, live entertainment |
| Broadway Macau™ | Cotai, Macau | Boutique Hotel | 310 rooms, 2,500-seat theatre, food street |
| Galaxy International Convention Center | Cotai, Macau | MICE Venue | 40,000 sqm, up to 16,000 guests |
| Galaxy Arena | Cotai, Macau | Indoor Arena | 16,000 seats, hospitality suites |
| Construction Materials Facilities | Hong Kong, Mainland China | Manufacturing Plants | Concrete, asphalt, cement, slag production |
| Corporate Office | Hong Kong | Registered Office | Corporate governance, investor relations |
Founders Details
GEG was founded by Dr. Lui Che Woo, a visionary entrepreneur whose leadership shaped the company into a global leader. Below are comprehensive details about the founder.
- Name: Dr. Lui Che Woo
- Background: A prominent Hong Kong businessman with a deep understanding of Chinese heritage and Asian markets. Dr. Lui’s entrepreneurial journey began in construction and materials, later expanding into hospitality and gaming.
- Role in GEG: Founded GEG and served as its Chairman until his passing. His vision of creating a “World Class, Asian Heart” service philosophy remains central to GEG’s operations.
- Key Contributions:
- Secured a gaming concession for Galaxy Casino, S.A. in 2002, outcompeting 18 international firms.
- Led GEG’s listing on the Hong Kong Stock Exchange in 2005.
- Established the Galaxy Entertainment Group Foundation in 2014 with a HK$1.3 billion endowment to support youth education.
- Oversaw the development of Galaxy Macau™, StarWorld Hotel, and Broadway Macau™.
- Legacy: Dr. Lui’s commitment to excellence, community engagement, and sustainable growth continues to guide GEG. His strategic investments, such as in Monte-Carlo SBM, expanded GEG’s global footprint.
- Recognition: GEG’s 2024 Annual Report honors Dr. Lui’s leadership, crediting him with positioning the company as Asia’s leading gaming and entertainment corporation.
Note: Dr. Lui Che Woo is deceased, and his son, Mr. Francis Lui Yiu Tung, now serves as Chairman, continuing his father’s legacy.
Board of Directors
GEG’s Board of Directors comprises experienced leaders with expertise in gaming, hospitality, finance, and governance. Below is a comprehensive list with details.
Executive Directors
| Name | Role | Details |
|---|---|---|
| Mr. Francis Lui Yiu Tung, BBS | Chairman | Son of Dr. Lui Che Woo, leads strategic direction. Chairs Corporate Governance Committee and serves on Remuneration and Nomination Committees. |
| Mr. Joseph Chee Ying Keung | Executive Director | Oversees operational management, member of Executive Board. |
| Mrs. Paddy Tang Lui Wai Yu, BBS, JP | Executive Director | Contributes to corporate strategy, member of Executive Board. |
Non-Executive Director
| Name | Role | Details |
|---|---|---|
| Dr. Charles Cheung Wai Bun, JP | Non-Executive Director | Provides independent oversight, serves on Audit and Corporate Governance Committees. |
Independent Non-Executive Directors
| Name | Role | Details |
|---|---|---|
| Mr. James Ross Ancell | Independent Non-Executive Director | Chairs Audit Committee, serves on Corporate Governance Committee. |
| Dr. William Yip Shue Lam, LLD | Independent Non-Executive Director | Chairs Remuneration and Nomination Committees, serves on Audit Committee. |
| Professor Patrick Wong Lung Tak, BBS, JP | Independent Non-Executive Director | Serves on Audit, Remuneration, Nomination, and Corporate Governance Committees. |
| Mr. Michael Victor Mecca | Independent Non-Executive Director | Provides industry expertise, enhances board diversity. |
Committees:
- Audit Committee: Chaired by Mr. James Ross Ancell, ensures financial integrity.
- Remuneration Committee: Chaired by Dr. William Yip Shue Lam, oversees compensation policies.
- Nomination Committee: Chaired by Dr. William Yip Shue Lam, manages board appointments.
- Corporate Governance Committee: Chaired by Mr. Francis Lui Yiu Tung, ensures robust governance practices.
Company Secretary: Mrs. Jerifer Sin Li Mei Wah, supports board operations and compliance.
Shareholding Details
GEG is a publicly listed company on the Hong Kong Stock Exchange (SEHK: 27), with a diverse shareholder base. Below are key shareholding details as of December 31, 2024.
- Stock Code: SEHK: 27, Bloomberg: 27 HK, Reuters: 0027.HK.
- Share Price: HK$33.00 per share.
- Market Capitalization: HK$144,372 million.
- Major Shareholders:
- K. Wah International Holdings Limited: A significant shareholder, linked to the Lui family, with related party transactions (e.g., rental expenses of HK$1,410,000 in 2024).
- Other institutional and retail investors hold the remaining shares, but specific percentages are not disclosed in the provided data.
- Share Capital: HK$24,253,709,000, including shares held for the share award scheme.
- Dividends:
- Paid HK$0.80 per share in 2024 (HK$0.30 in April, HK$0.50 in October).
- Recommended final dividend of HK$0.50 per share, payable in June 2025, totaling approximately HK$2,190 million.
- Share Registrar: Computershare Hong Kong Investor Services Limited, located at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong.
GEG’s strong financial position and consistent dividend payouts reflect its commitment to delivering value to shareholders.
Parent Company Details
GEG does not have a parent company, as it is an independent, publicly listed entity on the Hong Kong Stock Exchange. The company is controlled by its Board of Directors, with significant influence from the Lui family through their shareholding via K. Wah International Holdings Limited and related entities. Dr. Lui Che Woo’s legacy and his family’s ongoing involvement, particularly through Chairman Mr. Francis Lui Yiu Tung, ensure strategic continuity.
Investment Details
GEG maintains a strategic investment portfolio to diversify its operations and explore global opportunities. Below is a detailed list of passive investments.
1. Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco (Monte-Carlo SBM)
- Investment Type: Strategic Minority Investment
- Details: Initiated in July 2015, with a formal partnership established in 2017. Monte-Carlo SBM is a world-renowned operator of luxury hotels and resorts in Monaco.
- Equity Held: Not specified, but described as a minority stake.
- Purpose: To explore international development opportunities in the luxury hospitality and gaming sectors.
- Impact: Enhances GEG’s global brand and provides insights into European markets.
2. Investments in Joint Ventures
- Details: GEG holds stakes in 10 joint ventures in Mainland China, primarily in the construction materials sector (listed in the Subsidiaries section).
- Equity Held: Ranges from 25.6% to 50%.
- Purpose: To expand GEG’s construction materials business in the Greater Bay Area and beyond.
- Financial Impact: Contributed HK$356 million in share of profits in 2024.
3. Investment in Associated Company
- Details: EBG K. Wah Solid Waste Treatment Holdings Limited, based in Hong Kong.
- Equity Held: 49%.
- Purpose: Investment holding, supporting GEG’s diversified portfolio.
- Financial Impact: Contributed HK$12 million in share of profits in 2024.
List of Investments:
| Investment | Region | Equity Held (%) | Purpose |
|---|---|---|---|
| Monte-Carlo SBM | Monaco | Minority | Explore international luxury hospitality and gaming opportunities |
| Anhui Masteel K. Wah New Building Materials | Maanshan | 30 | Manufacture and sale of slag |
| Baoshan Kungang & K. Wah Cement | Baoshan | 25.6 | Manufacture and sale of cement |
| Shaoguan K. Wah Construction Materials | Shaoguan | 28.97 | Manufacture and sale of slag |
| Wuhan Wugang K. Wah New Building Materials | Hubei | 49 | Manufacture and sale of slag |
| Maanshan Masteel K. Wah Concrete | Maanshan | 30 | Manufacture and sale of ready-mixed concrete |
| Nanjing Nangang K. Wah High Tech Materials | Nanjing | 50 | Manufacture and sale of slag |
| Qujing Kungang & K. Wah Cement | Qujing | 32 | Manufacture and sale of cement |
| Yunnan Kungang & K. Wah Cement | Kunming | 25.6 | Manufacture and sale of cement |
| Zhaotong Kungang & K. Wah Cement | Zhaotong | 32 | Manufacture and sale of cement |
| Zhaoqing K. Wah Quarry | Zhaoging | 32 | Quarrying |
| EBG K. Wah Solid Waste Treatment Holdings | Hong Kong | 49 | Investment holding |
Future Investment Plans
GEG’s future investment plans focus on expanding its Macau operations, diversifying non-gaming offerings, and exploring international opportunities. Below are the key initiatives.
1. Capella at Galaxy Macau
- Details: A 17-storey ultra-luxury hotel with approximately 100 sky villas and suites, featuring transparent infinity-edge pools, outdoor lounges, and winter gardens.
- Timeline: Targeted opening in mid-2025.
- Investment: Part of GEG’s ongoing capital expenditure, with HK$5,554,599,000 committed to property, plant, and equipment in 2024.
- Purpose: To elevate Macau’s luxury hospitality offerings and attract high-net-worth visitors.
2. Cotai Phase 4
- Details: Expansion of GEG’s Cotai footprint by 600,000 square meters, including multiple high-end hotel brands, a 5,000-seat theater, extensive F&B, retail, non-gaming amenities, a water resort deck, and a casino.
- Timeline: Under construction, with completion expected to increase GEG’s total hotel capacity to 7,500 rooms.
- Investment: Significant CAPEX allocation, supported by GEG’s strong balance sheet (HK$31,333 million in cash).
- Purpose: To support Macau’s vision of becoming a World Centre of Tourism and Leisure, with a strong focus on non-gaming facilities.
3. Greater Bay Area and Overseas Opportunities
- Details: GEG is exploring development opportunities in the Greater Bay Area and internationally, leveraging its partnership with Monte-Carlo SBM.
- Timeline: Ongoing, with no specific deadlines announced.
- Investment: Strategic investments to be funded by operational cash flows and existing liquidity.
- Purpose: To diversify GEG’s geographical presence and revenue streams.
4. Technology and Infrastructure Upgrades
- Details: Deployment of smart tables across all casinos to enhance operational efficiency and customer management. Upgrades at StarWorld Macau, including the gaming floor, lobby, and F&B options.
- Timeline: Smart tables deployed in 2024; StarWorld upgrades ongoing.
- Investment: Included in 2024 CAPEX of HK$5,554,599,000.
- Purpose: To maintain competitive edge and improve customer experience.
5. Community and Sustainability Initiatives
- Details: Continued support for the Galaxy Entertainment Group Foundation, focusing on youth empowerment and education.
- Timeline: Ongoing, with long-term commitments.
- Investment: Funded through operational profits and prior endowments (HK$1.3 billion in 2014).
- Purpose: To contribute to Macau’s social and economic development.
Summary of Future Investment Plans:
| Initiative | Description | Timeline | Purpose |
|---|---|---|---|
| Capella at Galaxy Macau | 100 ultra-luxury sky villas and suites | Mid-2025 | Elevate luxury hospitality offerings |
| Cotai Phase 4 | 600,000 sqm expansion with hotels, theater, and non-gaming facilities | Under construction | Support Macau’s tourism vision |
| Greater Bay Area & Overseas | Explore development opportunities with Monte-Carlo SBM | Ongoing | Diversify geographical presence |
| Technology & Infrastructure | Smart tables, StarWorld upgrades | 2024–Ongoing | Enhance efficiency and customer experience |
| Community & Sustainability | Support Galaxy Entertainment Group Foundation | Ongoing | Contribute to social and economic development |
Conclusion
Galaxy Entertainment Group Limited (GEG) exemplifies excellence in the global gaming and hospitality industry, driven by its “World Class, Asian Heart” philosophy and strategic vision to be Asia’s leading entertainment corporation. With a robust portfolio of integrated resorts, luxury hotels, and construction materials operations, GEG delivers unparalleled experiences in Macau and beyond. Its financial strength, diversified revenue streams, and ambitious investment plans position it for sustained growth, while its commitment to community engagement and sustainability underscores its role as a responsible corporate citizen. As GEG continues to expand its footprint and innovate, it remains a beacon of luxury, entertainment, and cultural resonance in the global market.
