Galaxy Entertainment Q3 revenue up 4%, net cash at HK$34.4 billion

what happened

Galaxy Entertainment posted mixed third-quarter 2026 results, according to a TradingView summary that was generated with AI and may contain inaccuracies. Revenue rose 4% year over year to HK$12.69 billion. Adjusted EBITDA increased 10% to HK$3.69 billion, while normalized EBITDA fell 7% to HK$3.104 billion.

As of September 30, 2026, the company held HK$36.4 billion in cash and liquid investments against HK$2.0 billion of debt, a net position of HK$34.4 billion. Galaxy plans to enhance its premium offerings, continue renovating StarWorld Macau and progress Phase 4 fit-outs in the fourth quarter. The Capella premium gaming salon at Galaxy Macau's Horizon Plus area also grew from six to 10 private salons.

why it matters

For investors, the key point is that revenue and adjusted EBITDA growth coexisted with a drop in normalized EBITDA, amid moderating gaming revenue growth in Macau. The large cash position cushions financing risks tied to the Cotai Phase 4 project, due in 2027, and gives the company room to handle global uncertainty.

market impact

Galaxy Entertainment shares and Macau operators: mixed results, revenue growth against lower normalized EBITDA

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

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