GALAXY ENT 1Q26 Net Revenue +11% YoY; Adjusted EBITDA +8% YoY

GALAXY ENT (00027.HK) +0.500 (+1.560%) Short selling $134.16M; Ratio 19.190% announced that in 1Q26, the Group recorded net revenue of HKD12.4 billion, up 11% YoY and down 10% QoQ. Adjusted EBITDA was HKD3.6 billion, up 8% YoY and down 17% QoQ. The quarterly variance in results was impacted by luck factors. In 4Q25, adjusted EBITDA was HKD4.3 billion, which included an increase of approximately HKD730 million due to a higher-than-normal hold rate; however, in 1Q26, adjusted EBITDA was reduced by approximately HKD2 million due to a lower-than-normal hold rate. Excluding hold rate impact, adjusted EBITDA was flat QoQ. Business performance during the Lunar New Year period was solid and similar to last year, with momentum continuing to strengthen after the holiday.In 1Q26, GGR was HKD12.7 billion, up 16% YoY and down 9% QoQ. Mass GGR was HKD9.6 billion, up 17% YoY and down 4% QoQ. VIP GGR was HKD2.3 billion, up 18% YoY and down 25% QoQ. Slots GGR was HKD785 million, up 8% YoY and down 5% QoQ.During the quarter, Galaxy Macau recorded net revenue of HKD10.3 billion, up 13% YoY and down 12% QoQ, with adjusted EBITDA of HKD3.3 billion, up 11% YoY and down 17% QoQ. StarWorld Macau reported net revenue of HKD1.3 billion, up 8% YoY and up 5% QoQ, while adjusted EBITDA was HKD383 million, up 9% YoY and up 8% QoQ. Broadway Macau reported adjusted EBITDA of HKD7 million, compared with HKD2 million in 1Q25.As of end-Mar 2026, the Groups cash and liquid investments amounted to HKD39.2 billion. After deducting debt of HKD2.7 billion, net cash stood at HKD36.5 billion. The Group believes this financial strength enables it to invest in future development, explore overseas opportunities, and return capital to shareholders through dividends.In addition, GALAXY ENT continues to enhance the performance of Galaxy Macau Capella, Galaxy International Convention Center, Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau. The Group is also advancing Phase 4 development in Cotai, focusing primarily on non-gaming facilities targeting entertainment and family-oriented offerings, while also including gaming elements. The project is expected to be completed next year. Internationally, the Group will continue to explore opportunities in overseas markets.GALAXY ENT noted that although demand remains affected by seasonality and the macroeconomic environment, premium mass and mass segments are expected to remain the key growth drivers in a competitive market environment.HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-11 16:25AASTOCKS Financial News