Galaxy Entertainment posts Q3 2026 adjusted EBITDA of HKD3.69bn
Net revenue rose 5.1% to HKD12.02bn; Galaxy Macau drove the gain despite Macau GGR dip.
Key Takeaways
- Galaxy Entertainment reported adjusted EBITDA of just under HKD3.69 billion (US$470.6 million) for Q3 2026, up 10.4% year on year.
- Group net revenue for the three months to 30 September was HKD12.02 billion, a 5.1% increase from a year earlier.
- Group GGR for July–September was HKD12.88 billion, up 5.2% year on year while Macau-wide GGR contracted about 4%.
- Galaxy Macau delivered HKD10.84 billion in net revenue and HKD3.54 billion in adjusted EBITDA for the quarter.
Galaxy Entertainment Group Ltd reported third-quarter 2026 adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of just under HKD3.69 billion (US$470.6 million) on Friday, up 10.4 percent from the prior-year period. Net revenue in the three months to 30 September rose 5.1 percent from a year earlier to HKD12.02 billion.
Results overview
The group’s gross gaming revenue (GGR) for July to September stood at HKD12.88 billion, a 5.2 percent increase year on year. Galaxy Entertainment runs Galaxy Macau, the StarWorld Hotel on the Macau peninsula, and Broadway Macau. Galaxy Macau recorded net revenue of HKD10.84 billion for the quarter, a 7.4-percent increase from a year earlier, and the property’s adjusted EBITDA was HKD3.54 billion, up from HKD3.07 billion in third-quarter 2025. The group reported the HKD3.69 billion consolidated adjusted EBITDA figure alongside these property-level results.
Premium segment and capacity
Chairman Francis Lui Yiu Tung said the group had "delivered a solid performance" in the third quarter, while noting that Macau-wide GGR had contracted by about 4 percent year on year. He highlighted premium offering developments: "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."
"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 geopolitical uncertainty," Mr Lui added.
Galaxy Entertainment said it was continuing fit-out work on Phase 4 of Galaxy Macau. Phase 4, scheduled for completion in 2027, will include 1,350 suites and hotel rooms, a 5,000-seat theatre, retail outlets, a water resort deck and additional casino facilities. Coverage of the property portfolio and group results appears in the company's release and related market commentary. See Galaxy Macau in our /casino section for property details and the group announcement in /news.
Frequently Asked Questions
What was Galaxy Entertainment's adjusted EBITDA in Q3 2026?
Galaxy Entertainment's adjusted EBITDA for third-quarter 2026 was just under HKD3.69 billion, which the company reported as US$470.6 million and described as a 10.4 percent increase from the prior-year period.
How much net revenue did the group report for the quarter to 30 September 2026?
The group reported net revenue of HKD12.02 billion for the three months to 30 September 2026, a 5.1 percent rise compared with the same period a year earlier.
What were Galaxy Macau's results in Q3 2026?
Galaxy Macau recorded net revenue of HKD10.84 billion and adjusted EBITDA of HKD3.54 billion for the reporting period, with revenue up 7.4 percent from a year earlier and EBITDA rising from HKD3.07 billion in Q3 2025.
What did the chairman say about market conditions and premium demand?
Chairman Francis Lui Yiu Tung said the group had "delivered a solid performance" despite Macau GGR contracting by about 4 percent year on year, noting that Capella at Galaxy Macau ramped up and Horizon Plus expanded from six to ten private salons to meet demand from high-value customers.
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Oliver Grant
Industry Technology Correspondent
Oliver Grant covers the technology and business machinery of iGaming — platform and data deals, AI and compliance tooling, affiliate and marketing shifts, and the quarterly numbers behind them. The reports lead with the announcement, name the vendors and figures exactly as published, and separate genuine capability from press-release promise. When a supplier ships a new engine or a regulator tightens ad rules, Oliver Grant explains what actually changes for the companies involved.
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