Galaxy Macau Reports Strong Quarter
Galaxy Entertainment, a Macau operator, announced revenues of $49.2 billion, representing a 13 percent year-on-year increase. The flagship casino, Galaxy Macau, saw its Adjusted EBITDA rise to $13.4 billion, an increase of 24 percent compared to the previous year.
Performance of Other Properties
In contrast, the company’s other two properties had less favorable results. StarWorld Macau reported an Adjusted EBITDA of $1.4 billion, down 13 percent year-on-year, while Broadway Macau recorded an Adjusted EBITDA of $11 million, which marked a 54 percent decline year-on-year. In the fourth quarter, Galaxy Macau saw its revenues rise by 29 percent, while StarWorld and Broadway experienced declines of 1 percent and 21 percent, respectively.
Overall Macau Market Insights
Macau's Gross Gaming Revenue (GGR) for the full year 2025 reached $240.2 billion, showing a 9 percent year-on-year increase and accounting for 85 percent of the level seen in 2019. Visitor arrivals to Macau were 40.1 million, up 15 percent year-on-year, surpassing the 39.4 million in 2019.
Outlook and Future Developments
Francis Lui, Chairman of Galaxy Entertainment Group (GEG), commented that in 2025, Macau continued to show signs of recovery following the COVID-19 pandemic. GEG aimed to promote growth across various business segments, particularly focusing on the premium and super-premium markets.
The Capella resort, which soft-launched in May 2025 and officially opened on February 10, 2026, has been effective in attracting the super-premium segment, reinforcing GEG's position in this lucrative market.
Support for Government Initiatives
GEG has expressed commitment to supporting the Macau Government in its vision of developing the region into a “City of Performing Arts” and a “City of Sports” through hosting top-tier events. The Galaxy Arena and Galaxy International Convention Center (GICC) have significantly boosted customer traffic by facilitating numerous events. In 2025, GEG hosted around 350 events, including concerts and sporting events, with plans for an exciting calendar in 2026.
Plans include partnerships with leading entertainment companies and renewed agreements aimed at enhancing event ticketing services. These efforts aim to strengthen customer loyalty and attract new visitors, establishing Macau as a premier leisure and entertainment destination in Asia.
Investments in Diversification
According to Macau's 2025 Policy Address, there is an ongoing emphasis on balancing gaming reliance with diversified tourism and cultural development. As a response, concessionaires have been investing significantly in non-gaming facilities, including hotels and entertainment venues, along with expanding international marketing.
Looking ahead to 2026, GEG is focused on accelerating its Phase 4 development, enhancing existing resort attractions, and diversifying its non-gaming offerings. There remains optimism about GEG's future and the overall market as the Central Government continues to support Macau's development and economic diversification.
