Galaxy Entertainment Group Selected Unaudited Q3 2026 Financial Data

(MENAFN- GlobeNewsWire - Nasdaq) Continues To Lead Macau's Non-Gaming Diversification Through MICE, Entertainment And Sporting Events

Q3 2026 Group Adjusted EBITDA Of $3.7 Billion
Up 10% Year-on-Year And Up 9% Quarter-on-Quarter

Paid An Interim Dividend Of $0.90 Per Share In September 2026

Continued To Ramp Up Capella At Galaxy Macau

Phase 4 Remains Targeted For Completion In 2027

HONG KONG, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Galaxy Entertainment Group (“GEG”,“Company” or the“Group”) (HKEx stock code: 27) today reported results for the three-month period ended 30 September 2026. (All amounts are expressed in Hong Kong dollars unless otherwise stated)

Mr. Francis Lui, Chairman of GEG said:

“I am pleased to report on GEG's performance for the third quarter of 2026. The quarter began with a partial impact from the FIFA World Cup, which continued until 19 July. This temporarily affected customer traffic and gaming activity during the early part of the quarter. However, the impact was short-lived. Business recovered quickly following the tournament, supported by strong summer visitation and healthy activity across both gaming and non-gaming offerings.

Visitor arrivals during the summer holiday period were strong. In Q3 2026, Macau welcomed approximately 11.2 million visitors, up 8% year-on-year and up 15% quarter-on-quarter. Arrivals from Mainland Chinese outpaced the overall market, increasing 10% year-on-year and 25% quarter-on-quarter to 8.6 million, reinforcing Macau's appeal to its core source market. This solid visitor momentum supported hotel occupancy and activity across both gaming and non-gaming segments.

Macau's Gross Gaming Revenue (GGR) was $58.5 billion in Q3 2026, down 4% year-on-year and down 1% quarter-on-quarter. For the first nine months of 2026, market GGR reached $181.7 billion, representing growth of 3% year-on-year.

Against this backdrop, GEG delivered a solid performance. For Q3 2026, Group Net Revenue was $12.7 billion, up 4% year-on-year and up 7% quarter-on-quarter. Adjusted EBITDA was $3.7 billion, up 10% year-on-year and up 9% quarter-on-quarter.

Our premium offering continued to make good progress during the quarter. Capella at Galaxy Macau ramped up well and the expansion of Horizon Plus from six to ten private salons provided additional capacity to meet the demand from high-value customers and strengthened our position in the premium market. Together with Raffles at Galaxy Macau and Horizon Club, these products give us a strong and differentiated premium portfolio.

At StarWorld Macau, the hotel renovation programme continued during Q3. While the temporary reduction in available room inventory affected the property's EBITDA by approximately $20 million during the quarter, we carefully managed the works to minimise disruption and maintain service standards. The upgraded rooms and suites will enhance the property's appeal to premium customers, with completion targeted for the first quarter of 2027.

Entertainment and events continued to broaden our appeal and generate new incentives to visit Macau. During Q3, we hosted more than 80 concerts, entertainment shows, sporting and other events across Galaxy MacauTM, including The Music of Chan Fai Young, concerts by Rosy Zhao and Henry Lau, and the Tencent Music Entertainment Awards (TMEA) 2026. World tour concerts by K-pop groups i-dle and CLOSE YOUR EYES also attracted audiences from Macau, Greater China and across Asia.

Our entertainment strategy connects travel, accommodation, dining, retail and entertainment. Partnerships with leading entertainment, travel and ticketing companies help us broaden our audience reach, enhance the customer journey and encourage repeat visitation. Our event pipeline for the remainder of 2026 remains strong, featuring Rene Liu, Jane Zhang, ENHYPEN, TOMORROW X TOGETHER, LE SSERAFIM, Richie Jen and MC Cheung Tinfu.

Our balance sheet remains healthy and liquid. As of 30 September 2026, cash and liquid investments were $36.4 billion. After debt of $2 billion, our net position was $34.4 billion. This financial strength enables us to invest in our existing resorts, return capital to shareholders, fund our development pipeline and maintain resilience amid an uncertain external environment.

In September, we paid an interim dividend of $0.90 per share. Together with the final dividend of $0.80 per share paid in June, total dividends paid during the first nine months of 2026 were $1.70 per share. These returns demonstrate the Board's commitment to shareholders and our confidence in the long-term outlook for Macau and GEG.

We continued the fitting out of our 600,000-sqm Phase 4 development. Upon completion, this project will significantly enhance our integrated resort offering and broaden our non-gaming attractions. Phase 4 will feature five ultra-luxury hotels with approximately 1,350 rooms and suites, a 5,000-seat theater, extensive dining and retail offerings, lush landscaping, a water resort deck and a casino. We believe Phase 4 will be a game changer for GEG and further support Macau's development as a World Centre of Tourism and Leisure.

As we enter the final quarter of 2026, our priorities are to build momentum across our premium offerings, maximize the value of our entertainment assets, progress the renovation of StarWorld Macau and the fitting out of Phase 4, while maintaining discipline in operating costs and customer reinvestment.

We acknowledge that GGR growth has moderated in the near term, reflecting a combination of short-term factors, including possibly, taxation policy changes, slower global economic growth and ongoing geo-political uncertainty. Despite these near-term factors, we remain confident in the medium to longer term outlook for Macau. This view is underpinned by the continued growth in China's economy and household wealth, which should support sustained demand for leisure, tourism, and travel. GEG is well positioned to capture these longer term opportunities through our world class integrated resorts and the largest development landbank in Macau.

Finally, I would like to thank all our team members who deliver 'World Class, Asian Heart' service each and every day and contribute to the success of the Group.”

Q3 202 6 RESULTS HIGHLIGHTS GEG: Well Positioned for Future Growth Q3 Group Net Revenue of $12.7 billion, up 4% year-on-year and up 7% quarter-on-quarter Q3 Group Adjusted EBITDA of $3.7 billion, up 10% year-on-year and up 9% quarter-on-quarter Played lucky in Q3 which increased Adjusted EBITDA by approximately $584 million, normalized Adjusted EBITDA of $3.1 billion, down 7% year-on-year and down 9% quarter-on-quarter Latest twelve months Adjusted EBITDA of $14.9 billion, up 11% year-on-year and up 2% quarter-on-quarter Galaxy MacauTM: Primary Driver to Group Earnings Q3 Net Revenue of $10.8 billion, up 7% year-on-year and up 9% quarter-on-quarter Q3 Adjusted EBITDA of $3.5 billion, up 15% year-on-year and up 11% quarter-on-quarter Played lucky in Q3 which increased Adjusted EBITDA by approximately $576 million, normalized Adjusted EBITDA of $3.0 billion, down 3% year-on-year and down 8% quarter-on-quarter Hotel occupancy for Q3 across the nine hotels was 99% StarWorld Macau: Continuing with Major Property Upgrades Q3 Net Revenue of $1.1 billion, down 11% year-on-year and down 8% quarter-on-quarter Q3 Adjusted EBITDA of $279 million, down 24% year-on-year and down 8% quarter-on-quarter Played lucky in Q3 which increased Adjusted EBITDA by approximately $8 million, normalized Q3 Adjusted EBITDA of $271 million, down 27% year-on-year and down 14% quarter-on-quarter Hotel occupancy for Q3 was 100% Broadway MacauTM and Construction Materials Division (“CMD”) Broadway MacauTM: Q3 Adjusted EBITDA was $7 million, versus $1 million in Q3 2025 and breakeven in Q2 2026 CMD: Q3 Adjusted EBITDA was $150 million, down 27% year-on-year and down 12% quarter-on-quarter Balance Sheet: Remained Healthy and Liquid As at 30 September 2026, cash and liquid investments were $36.4 billion and the net position was $34.4 billion after debt of $2.0 billion Paid an interim dividend of $0.90 per share on 15 September 2026 Development Update : Continue to ramp up Capella at Galaxy Macau, Galaxy International Convention Center (GICC), Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau; Progressing with the fitting out of Phase 4 Cotai Phase 3 – Continue to ramp up Capella at Galaxy Macau, GICC, Galaxy Arena, Raffles at Galaxy Macau and Andaz Macau Cotai Phase 4 – Our efforts are firmly focused on the development of Phase 4 which has a strong focus on non-gaming, primarily targeting entertainment, family facilities and also includes a casino StarWorld Macau – Undertaking a major property upgrade International – Continuously exploring opportunities in overseas markets

Market Overview

Based on DICJ reporting, Macau's GGR for Q3 2026 was $58.5 billion, down 4% year-on-year and down 1% quarter-on-quarter.

In Q3 2026, visitor arrivals to Macau were 11.2 million, up 8% year-on-year and up 15% quarter-on-quarter. Visitors from Mainland China, our core market, were 8.6 million, up 10% year-on-year and up 25% quarter-on-quarter, with Individual Visit Scheme visitors of 4.7 million, up 16% year-on-year and up 29% quarter-on-quarter.

In the first nine months of 2026, visitor arrivals to Macau were 32.2 million, up 8% year-on-year. Visitors from Mainland China were 23.9 million, up 11% year-on-year, with Individual Visit Scheme visitors of 13.2 million, up 14% year-on-year. Visitors from the Taiwan region (882,023) grew by 21% year-on-year. Regarding the Asian markets, visitors from Thailand (154,885) grew by 35% year-on-year and visitors from India (91,857) grew by 14% year-on-year. International visitors were 1.9 million, up 3% year-on-year.

GEG has continued to work with Macao Government Tourism Office to actively promote Macau as a tourism destination. We will continue to leverage our marketing offices in Tokyo, Seoul, Bangkok and Singapore to further strengthen Macau's tourism appeal.

Group Financial Results

In Q3 2026, Group Net Revenue was $12.7 billion, up 4% year-on-year and up 7% quarter-on-quarter. Adjusted EBITDA¹ was $3.7 billion, up 10% year-on-year and up 9% quarter-on-quarter. Galaxy MacauTM's Adjusted EBITDA was $3.5 billion, up 15% year-on-year and up 11% quarter-on-quarter. StarWorld Macau's Adjusted EBITDA was $279 million, down 24% year-on-year and down 8% quarter-on-quarter. Broadway MacauTM's Adjusted EBITDA was $7 million, versus $1 million in Q3 2025 and breakeven in Q2 2026. Latest twelve months Adjusted EBITDA for the Group was $14.9 billion, up 11% year-on-year and up 2% quarter-on-quarter.

During Q3 2026, GEG played lucky in its gaming operations which increased Adjusted EBITDA by approximately $584 million. Normalized Adjusted EBITDA was $3.1 billion, down 7% year-on-year and down 9% quarter-on-quarter.

Summary Table of GEG Q3 2026 Adjusted EBITDA and Adjustments:
in HK$'m	Q3 2025	Q2 2026	Q3 2026	YoY	QoQ
Adjusted EBITDA	3,341	3,380	3,688	10 %	9 %
Luck2	14	(21)	584	-	-
Normalized Adjusted EBITDA	3,327	3,401	3,104	(7 )%	(9 )%

Gaming & Entertainment Division's Performance:
in HK$'m	Q3 2025	Q2 2026	Q3 2026	YoY	QoQ
Net Revenue	11,436	11,192	12,022	+5 %	+7 %
Normalized Net Revenue	11,415	11,225	11,049	-3 %	-2 %
Adjusted Property EBITDA3	3,432	3,502	3,823	+11 %	+9 %
Luck4	14	(21)	584	-	-
Normalized Adjusted Property EBITDA	3,418	3,523	3,239	-5 %	-8 %
Normalized Adjusted Property EBITDA Margin	29.9%	31.4%	29.3 %	-0.6pp	-2.1pp

The Group's total GGR in Q3 2026 was $12.9 billion, up 5% year-on-year and up 7% quarter-on-quarter. Mass GGR was $9.2 billion, down 3% year-on-year and down 3% quarter-on-quarter. VIP GGR was $2.9 billion, up 41% year-on-year and up 76% quarter-on-quarter. Electronic GGR was $798 million, up 8% year-on-year and down 15% quarter-on-quarter.

Group Key Financial Data
(HK$'m)
	Q3 2025	Q2 2026	Q3 2026
Revenues:
Net Gaming	9,707	9,502	10,324
Non-gaming	1,729	1,690	1,698
Construction Materials	727	643	670
Total Net Revenue	12,163	11,835	12,692
Adjusted EBITDA	3,341	3,380	3,688
Gaming Statistics 5
(HK$'m)
	Q3 2025	Q2 2026	Q3 2026
Rolling Chip Volume6	65,003	53,275	60,646
Win Rate %	3.1%	3.1%	4.8 %
Win	2,044	1,636	2,883
Mass Table Drop7	35,414	33,855	32,328
Win Rate %	26.7%	28.0%	28.4 %
Win	9,460	9,473	9,194
Electronic Gaming Volume	27,424	27,421	25,249
Win Rate %	2.7%	3.4%	3.2 %
Win	738	934	798
Total GGR Win8	12,242	12,043	12,875

Balance Sheet and Dividend

The Group's balance sheet remains healthy and liquid. As of 30 September 2026, cash and liquid investments were $36.4 billion and the net position was $34.4 billion after debt of $2.0 billion. Our strong balance sheet combined with substantial cash flow from operations allows us to invest in our existing resorts, return capital to shareholders, fund our development pipeline and maintain resilience amid an uncertain external environment. The Group paid the previously announced interim dividend of $0.90 per share on 15 September 2026.

Galaxy MacauTM

Galaxy MacauTM is the primary contributor to the Group's revenue and earnings. Net Revenue in Q3 2026 was $10.8 billion, up 7% year-on-year and up 9% quarter-on-quarter. Adjusted EBITDA was $3.5 billion, up 15% year-on-year and up 11% quarter-on-quarter.

Galaxy MacauTM played lucky in its gaming operations which increased its Adjusted EBITDA by approximately $576 million in Q3 2026. Normalized Adjusted EBITDA was $3.0 billion, down 3% year-on-year and down 8% quarter-on-quarter.

Hotel occupancy for Q3 2026 across the nine hotels was 99%.

Galaxy MacauTM Key Financial Data
(HK$'m)
	Q3 2025	Q2 2026	Q3 2026
Revenues:
Net Gaming	8,546	8,384	9,265
Hotel / F&B / Others	1,206	1,166	1,210
Mall	340	379	367
Total Net Revenue	10,092	9,929	10,842
Adjusted EBITDA	3,068	3,199	3,537
Adjusted EBITDA Margin	30%	32%	33 %
Gaming Statistics 9
(HK$'m)
	Q3 2025	Q2 2026	Q3 2026
Rolling Chip Volume10	64,032	52,395	60,446
Win Rate %	3.2%	3.1%	4.7 %
Win	2,020	1,626	2,862
Mass Table Drop11	27,983	26,794	26,098
Win Rate %	29.3%	30.7%	31.0 %
Win	8,205	8,233	8,099
Electronic Gaming Volume	17,430	19,479	18,433
Win Rate %	3.3%	4.1%	3.7 %
Win	580	790	677
Total GGR Win	10,805	10,649	11,638

StarWorld Macau

StarWorld Macau's Net Revenue in Q3 2026 was $1.1 billion, down 11% year-on-year, down 8% quarter-on-quarter. Adjusted EBITDA was $279 million, down 24% year-on-year, down 8% quarter-on-quarter.

StarWorld Macau played lucky in its gaming operations which increased its Adjusted EBITDA by approximately $8 million in Q3 2026. Normalized Adjusted EBITDA was $271 million, down 27% year-on-year and down 14% quarter-on-quarter.

Hotel occupancy for Q3 2026 was 100%.

StarWorld Macau Key Financial Data
(HK$'m)
	Q3 2025	Q2 2026	Q3 2026
Revenues:
Net Gaming	1,142	1,118	1,059
Hotel / F&B / Others	115	98	64
Mall	6	6	6
Total Net Revenue	1,263	1,222	1,129
Adjusted EBITDA	369	303	279
Adjusted EBITDA Margin	29%	25%	25 %
Gaming Statistics 12
(HK$'m)
	Q3 2025	Q2 2026	Q3 2026
Rolling Chip Volume13	971	880	200
Win Rate %	2.4%	1.1%	10.2 %
Win	24	10	21
Mass Table Drop14	7,336	7,061	6,230
Win Rate %	16.9%	17.6%	17.6 %
Win	1,241	1,240	1,095
Electronic Gaming Volume	9,636	7,942	6,816
Win Rate %	1.6%	1.8%	1.8 %
Win	153	144	121
Total GGR Win	1,418	1,394	1,237

Broadway MacauTM

Broadway MacauTM is a unique family friendly, street entertainment and food resort supported by Macau SMEs. In Q3 2026, Broadway MacauTM's Net Revenue was $51 million, down 18% year-on-year and up 24% quarter-on-quarter. Adjusted EBITDA was $7 million, versus $1 million in Q3 2025 and breakeven in Q2 2026.

Construction Materials Division (“CMD”)

CMD contributed Adjusted EBITDA of $150 million in Q3 2026, down 27% year-on-year and down 12% quarter-on-quarter. The decline mainly reflected weaker demand in Hong Kong and Mainland China, higher energy costs, and a lower contribution from Hong Kong International Airport's Three-Runway System following the completion of major works.

Development Update

Galaxy MacauTM

We continue to enhance Galaxy MacauTM to ensure it remains competitive and appealing to guests, including through the addition of new F&B, lifestyle and retail offerings.

Capella at Galaxy Macau officially opened on 10 February 2026 with 95 ultra-luxury signature Suites and Penthouses. It has been well received by guests and has strengthened our ability to capture the super-premium mass segment at scale. In response to strong customer demand, we expanded Horizon Plus, our premium gaming area, from six to ten private salons, further enhancing our offering for high-value customers.

Cotai Phase 4

We are progressing well with the fitting out of our approximately 600,000 sqm Phase 4 development. Market research and customer feedback indicate strong demand for premium products, including larger and more luxurious rooms with premium amenities and services. Therefore, we have increased the room size in Phase 4, which will comprise 5 ultra-luxury hotels with approximately 1,350 rooms and suites, an approximately 5,000-seat theater, extensive F&B outlets, retail, non-gaming amenities, landscaping, a water resort deck and a casino. Phase 4 is targeted for completion in 2027. We believe the addition of these new, high-quality amenities will be a game changer for our business.

StarWorld Macau

At StarWorld Macau we are undertaking a comprehensive renovation and upgrade programme to ensure the property remains competitive and appealing to guests. We have completed the refurbishment of the gaming floors on levels 1 and 3, together with a refit of the food and beverage areas, including the introduction of new dining offerings. We have commenced the renovation of the hotel rooms and suites. This includes combining some rooms to create larger and more spacious premium suites, with the project expected to be fully completed by the first quarter of 2027.

Selected Major Awards in 2026

AWARD	PRESENTER
GEG
Global Gaming Awards Asia-Pacific 2026 Casino Operator of the Year Integrated Resort of the Year	Global Gaming Insider
2026 IAG Academy IR Awards Best Individual CSR Initiative - GEG Sports for Good Community Program	Inside Asian Gaming

GALAXY MACAU TM
2026 IAG Academy IR Awards Best Integrated Resort - Galaxy MacauTM Best IR Gaming Floor - Galaxy MacauTM Best Hotel in an IR - Capella at Galaxy Macau	Inside Asian Gaming
Macau Green Hotel Awards - Gold Award Andaz Macau JW Marriott at Galaxy Macau The Ritz-Carlton, Macau Banyan Tree Macau	Environmental Protection Bureau
EarthCheck Platinum Certification Banyan Tree Macau EarthCheck Gold Certification Galaxy Hotel	EarthCheck
MICHELIN One-Star Restaurant 81⁄2 Otto e Mezzo BOMBANA Lai Heen Sushi Kissho by Miyakawa MICHELIN Selected Restaurants Saffron The Ritz-Carlton Café	The MICHELIN Guide Hong Kong and Macau 2026
Five-Star Hotel Banyan Tree Macau Galaxy Hotel Hotel Okura Macau Raffles at Galaxy Macau The Ritz-Carlton, Macau Capella at Galaxy Macau Five-Star Restaurant 81⁄2 Otto e Mezzo BOMBANA Yamazato Lai Heen Sushi Kissho by Miyakawa Five-Star Spa Banyan Tree Spa Macau The Ritz-Carlton Spa, Macau	2026 Forbes Travel Guide
2026 Black Pearl Restaurant Guide - One Diamond 81⁄2 Otto e Mezzo BOMBANA Yamazato	Mei Tuan
China Travel Awards - China's Top 100 Hotels - Raffles at Galaxy Macau	China Travel + Leisure
Tatler Best Hong Kong and Macau Awards 2026 Tatler Best Spotlight (Macau) - Hotel Galaxy Hotel Banyan Tree Macau Tatler Best 10 Hotels (Macau) Andaz Macau Raffles at Galaxy Macau Capella at Galaxy Macau Tatler Best 20 Restaurants (Macau) 81⁄2 Otto e Mezzo BOMBANA Lai Heen Sushi Kissho by Miyakawa House of Origin Tatler Best 20 Bars (Macau) 81⁄2 Otto e Mezzo BOMBANA Andaz Bar Long Bar PONY & PLUME Raffles Lounge & Terrace The Ritz-Carlton Bar & Lounge Tatler Best Spotlight (Macau) – Restaurant Saffron Teppanyaki Shou Best New Hotel (Macau) Capella at Galaxy Macau Best New Bar (Macau) PONY & PLUME Best Design (Macau) Andaz Macau PONY & PLUME Best Service (Macau) 81⁄2 Otto e Mezzo BOMBANA	Tatler Hong Kong
Wine Spectator's 2026 - Best of Award of Excellence 81⁄2 Otto e Mezzo BOMBANA Pak Lok Chiu Chow Sushi Kissho by Miyakawa	Wine Spectator
Trip.Gourmet 2027 - Platinum Restaurant 81⁄2 Otto e Mezzo BOMBANA Estuary by Vicky Cheng	Trip.com
LA LISTE World's Best Restaurant Selection 2027 - 81⁄2 Otto e Mezzo BOMBANA	LA LISTE
U Food Awards 2026 - My Favorite Macau Hotel Restaurant - Lai Heen	U Food
50 Best Discovery - Listed 2026 - Sushi Kissho by Miyakawa	50 Best Discovery
Restaurant & Bar Design Awards 2026 - Winner of the Asia - Hotel Category - Estuary by Vicky Cheng	Restaurant & Bar Design Awards

STARWORLD MACAU
MICHELIN Two-Star Restaurant - Feng Wei Ju	The MICHELIN Guide Hong Kong and Macau 2026
Tatler Best Hong Kong and Macau Awards 2026 Tatler Best 20 Restaurants (Macau) - Feng Wei Ju	Tatler Hong Kong
2026 Black Pearl Restaurant Guide - One Diamond - Feng Wei Ju	Mei Tuan
SCMP 100 Top Tables 2026 - Feng Wei Ju	South China Morning Post
Trip.Gourmet 2027 - Platinum Restaurant - Feng Wei Ju	Trip.com
LA LISTE World's Best Restaurant Selection 2027 - Feng Wei Ju	LA LISTE

BROADWAY MACAUTM
Tatler Best Hong Kong and Macau Awards 2026 Tatler Best 20 Bars (Macau) - Goa Nights at Broadway Macau Food Street	Tatler Hong Kong

CONSTRUCTION MATERIALS DIVISION
BOCHK Corporate Low-Carbon Environmental Leadership Awards 2025 EcoPartner 3 Years+ EcoPioneer	Bank of China (Hong Kong) and Federation of Hong Kong Industries
Hong Kong ESG Award 2026 Hong Kong ESG Award	The Chinese Manufacturers' Association of Hong Kong

Outlook

Looking ahead, we remain confident in the medium to longer term prospects of Macau and GEG. Macau continues to appeal strongly to travellers from Mainland Chinese, supported by improving regional connectivity, favourable travel policies and an increasingly diverse range of tourism experiences. Despite macroeconomic and geopolitical uncertainties, the market's swift recovery following the FIFA World Cup and solid summer business demonstrated the resilience of Macau's underlying fundamentals.

This positive momentum continued during the seven-day National Day Golden Week, when Macau welcomed approximately 1.14 million visitors, averaging a record 163,000 arrivals per day, up 15% year-on-year. Visitor arrivals reached approximately 210,000 on 4 October, also setting a new single-day record for National Day Holiday period. At GEG, we experienced healthy demand across our resorts, supported by strong visitation and full hotel occupancy. The solid holiday performance reaffirmed Macau's appeal as a preferred destination for Mainland Chinese visitors and provided an encouraging start to the fourth quarter.

Our strategy remains focused on attracting high-quality visitation, deeper customer engagement and broader spending across our resorts. We will continue to strengthen our premium products and expand our entertainment, dining, retail and other non-gaming offerings. As competition remains intense, particularly in the premium segments, we will continue to differentiate through superior products, service and the overall resort experience.

Entertainment remains a key element of this strategy. Through Galaxy Arena and GICC, we are building a year-round calendar of concerts, entertainment shows, sporting and other events that attract both new and repeat customers. These events drive footfall and spending across our properties, while strengthening Macau's position as a leading regional entertainment destination.

Our partnerships with Tencent Music's TME live, Trip.com Group, UFC, iQIYI, Damai Entertainment and Macau Pass strengthen our ability to develop major events and reach regional and international audiences. We have also partnered with HSBC Credit Card to offer rewards for spending at Galaxy MacauTM, Ant Bank to provide a range of financial services through self-service kiosks, and Xiaohongshu (XHS) to leverage its digital marketing capabilities and network of prominent influencers and content creators. Together, these partnerships enable us to deliver differentiated experiences and strengthen customer engagement across travel, accommodation, ticketing, entertainment and in-resort spending.

Our event pipeline remains strong. During Q3, we hosted a diverse programme of events that attracted audiences from Macau, Greater China and across Asia. Looking ahead, Galaxy Arena will host a strong lineup of Chinese and Korean artists, including Rene Liu, Jane Zhang, Richie Jen, MC Cheung Tinfu, ENHYPEN, TOMORROW X TOGETHER and LE SSERAFIM. These events will broaden our regional audience reach and encourage repeat visitation to Galaxy MacauTM.

Technology is playing an increasingly important role in our operations. Our investments in smart tables, customer data integration and advanced analytics are improving our understanding of customer preferences, yield management and resource allocation. We are already seeing benefits from these initiatives and will continue to apply technology across the business to enhance productivity, customer engagement and profitability.

International customer development remains a priority. We will continue to leverage our marketing offices in Tokyo, Seoul, Bangkok and Singapore to broaden our regional customer base. International visitor arrivals to Macau reached approximately 1.9 million in the first nine months of 2026, up 3% year-on-year, underscoring the opportunity to grow our international business, diversify visitation and encourage longer stays.

On the development front, fitting out works for our approximately 600,000-sqm Phase 4 development continue to progress. Upon completion, Phase 4 will significantly expand the scale and diversity of Galaxy MacauTM, featuring five ultra-luxury hotels with approximately 1,350 rooms and suites, an approximately 5,000-seat theater, extensive dining and retail offerings, landscaped areas, a water resort deck and a casino. The project remains targeted for completion in 2027 and is expected to be a game changer for our business.

We are also progressing the renovation of StarWorld Macau to strengthen its competitiveness and reposition the hotel for premium customers. While the temporary reduction in room inventory will continue to affect near term performance, we believe the upgraded rooms and suites, together with the renovated gaming floors and food and beverage areas, will enhance the property's long term appeal and earnings potential. The renovation remains on track for completion in the first quarter of 2027.

Macau's longer term tourism development will also benefit from improved infrastructure and connectivity. The planned Hezhou–Hengqin section of the Guangzhou-Zhuhai-Macau high-speed railway, with construction expected to begin before the end of 2026, will enhance cross-border rail connectivity and improve access to Macau via Hengqin. Together with the expansion of Macau International Airport, these developments will make Macau more accessible and support multi-destination travel across the Greater Bay Area, broaden Macau's visitor base and reinforce its position as a World Centre of Tourism and Leisure.

We remain mindful of geopolitical and macroeconomic uncertainties, which could affect consumer sentiment and travel spending if prolonged. It is difficult to quantify the direct impact of any individual factor on the business. GEG's robust balance sheet provides flexibility to invest in our resorts, fund our development pipeline, return capital to shareholders and respond effectively to changing market conditions. We believe GEG is well positioned to capture Macau's long term growth opportunities and deliver sustainable shareholder value.

About Galaxy Entertainment Group (HKEx stock code: 27)

Galaxy Entertainment Group Limited (“GEG” or the“Company”) and its subsidiaries (“GEG” or the“Group”) is one of the world's leading resorts, hospitality and gaming companies. The Group primarily develops and operates a large portfolio of integrated resort, retail, dining, hotel and gaming facilities in Macau. GEG is listed on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index.

GEG through its subsidiary, Galaxy Casino S.A., is one of the three original concessionaires in Macau when the gaming industry was liberalized in 2002. In 2022, GEG was awarded a new gaming concession valid from January 1, 2023, to December 31, 2032. GEG has a successful track record of delivering innovative, spectacular and award-winning properties, products and services, underpinned by a“World Class, Asian Heart” service philosophy, that has enabled it to consistently outperform the market in Macau.

The Group operates three flagship destinations in Macau: on Cotai, Galaxy MacauTM, one of the world's largest integrated destination resorts, and the adjoining Broadway MacauTM, a unique landmark entertainment and food street destination; and on the Peninsula, StarWorld Macau, an award-winning premium property.

The Group has the largest development pipeline of any concessionaire in Macau. When The Next Chapter of its Cotai development is completed, GEG's resorts footprint on Cotai will be more than 2 million square meters, making the resorts, entertainment and MICE precinct one of the largest and most diverse integrated destinations in the world. GEG also considers opportunities in the Greater Bay Area and internationally. These projects will help GEG develop and support Macau in its vision of becoming a World Centre of Tourism and Leisure.

In July 2015, GEG made a strategic investment in Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco (“Monte-Carlo SBM”), a world renowned owner and operator of iconic luxury hotels and resorts in the Principality of Monaco. GEG continues to explore a range of international development opportunities with Monte-Carlo SBM.

GEG is committed to delivering world class unique experiences to its guests and building a sustainable future for the communities in which it operates.

For more information about the Group, please visit

^{______________________
1} Adjusted EBITDA is earnings before interest, tax, depreciation, amortization and the effects of non-recurring income and expenditure from the operating segments, such as taxation of joint ventures and associated companies, pre-opening expenses, share option expenses and share award expenses, foreign exchange gain or loss and others which mainly include donation and sponsorship, gain or loss on disposal and write-off of property, plant and equipment, intangible assets and subsidiaries, and other expenses which are non-recurring in nature.
² Reflects luck adjustments associated with our rolling chip program.
³ Adjusted Property EBITDA further excludes expenses from Adjusted EBITDA that are not related to managing specific properties, primarily corporate administrative expenses.
⁴ Reflects luck adjustments associated with our rolling chip program.
⁵ Gaming statistics are presented before deducting commission and incentives.
⁶ Represents sum of promoter and inhouse premium direct.
⁷ Mass table drop includes the amount of table drop plus cash chips purchased at the cage.
⁸ Total GGR win includes gaming win from City Clubs. Waldo Casino ceased operations on 31 October 2025.
⁹ Gaming statistics are presented before deducting commission and incentives.
¹⁰ Represents sum of promoter and inhouse premium direct.
¹¹ Mass table drop includes the amount of table drop plus cash chips purchased at the cage.
¹² Gaming statistics are presented before deducting commission and incentives.
¹³ Represents sum of promoter and inhouse premium direct.
¹⁴ Mass table drop includes the amount of table drop plus cash chips purchased at the cage.

A photo accompanying this announcement is available at

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