G Sachs published a research report saying that GALAXY ENT (00027.HK) +0.100 (+0.292%) Short selling $151.25M; Ratio 30.318% 's 2Q results met expectations. Affected by the temporary impact from the World Cup and the ongoing renovation works at StarWorld Hotel, adjusted EBITDA fell 5% QoQ to HKD3.38 billion. Interim dividend was raised to HKD0.9, marking the third consecutive increase over the past one to two years and representing a positive surprise, equivalent to a 75% payout ratio or 63% of 1H free cash flow.

G Sachs expects GALAXY ENT (00027.HK) +0.100 (+0.292%) Short selling $151.25M; Ratio 30.318% to maintain a strong financial position, with net cash on hand reaching HKD35.9 billion and full-year free cash flow forecast at HKD8.8 billion, which it believes can support a full-year dividend of HKD1.8 per share, equivalent to a total payout of about HKD7.9 billion. Although market competition remains intense, G Sachs noted that management indicated player re-bet rates have stabilized, while other operators have become more rational in promotions. The broker forecasts Phase 4 in Cotai to open in 4Q27, driving gaming revenue and EBITDA market share to rise to 23% and 25% respectively in 2028. It accordingly lifted its 2026-2028 EBITDA forecasts by 2%, raised the TP from HKD50.3 to HKD51, and maintained the rating at Buy.(gc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-12 16:25.)