Galaxy Entertainment Q3 revenue rises 4%, normalized adjusted EBITDA falls 7%

what happened

Galaxy Entertainment Group reported net revenue of HK$12.69 billion for the third quarter of 2026, up 4% from a year earlier. Adjusted EBITDA rose 10% to HK$3.69 billion, while normalized adjusted EBITDA fell 7% to HK$3.104 billion. The figures were reported by RTTNews, citing dpa-AFX.

Galaxy Macau grew its EBITDA 15% year on year, whereas StarWorld Macau posted a 24% decline. Looking ahead, the company plans to focus on premium offerings, continue the StarWorld Macau renovation and speed up fit-out work at its Phase 4 development. Management said gaming revenue growth had slowed due to short-term factors, including slower global growth and geopolitical uncertainty, but it remains confident in Macau's medium- and long-term outlook. On Friday the shares closed 0.57% lower at HK$34.84 on the Hong Kong Stock Exchange.

why it matters

The gap between revenue growth and the decline in normalized EBITDA suggests that higher sales did not fully carry through to profit. The slowdown in gaming revenue matters for investors tracking Macau casino operators, since it shapes expectations for the whole region.

market impact

Galaxy Entertainment shares: mixed results, revenue and EBITDA growth offset by a lower normalized figure

• ↔Galaxy Entertainment shares mixed — revenue and adjusted EBITDA growth is offset by the drop in normalized EBITDA

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