written and last updated by
Sam Smith at
06 Nov 2025
Journalist, Editorial Department
Galaxy Entertainment Group (GEG) continued its recovery in the third quarter of 2025, which ended on September 30. The company's gross gaming revenue showed a robust increase of 21%. Compared to the previous quarter, this figure rose by 2%, reaching HK$12.2 billion (approximately ₽127.61 billion). This trend underscores the resilience of the casino operator's business model.
The primary driver of revenue growth was the core table games segment, which generated HK$9.46 billion (around ₽98.95 billion). This segment experienced a 13% year-on-year increase and a 7% rise compared to the previous quarter. The stability of the mass market segment offset volatility in other areas.
The VIP segment exhibited mixed results, with an 86% increase compared to the third quarter of 2024. However, it saw a 15% decline from the previous quarter, totaling HK$2.04 billion (approximately ₽21.34 billion). Electronic gaming contributed HK$738 million (around ₽7.72 billion) in revenue, maintaining a positive trend.
Among the casino properties, Galaxy Macau delivered stable results with gross revenue of HK$10.8 billion (approximately ₽112.97 billion). The StarWorld complex increased its revenue by 9% to HK$1.42 billion (around ₽14.85 billion). The Broadway Macau entertainment complex saw a 22% rise in revenue, reaching HK$62 million (approximately ₽648.5 million).
Adjusted EBITDA stood at HK$3.34 billion (around ₽34.94 billion), marking a 14% increase. However, this figure decreased by 6% compared to the previous quarter, a temporary adjustment attributed to external factors.
Chairman Francis Lui highlighted two key factors that influenced the period's results. The seasonal decline in activity in September traditionally leads to a shift in some visits to October. More significantly, Typhoon Ragas caused the official closure of the casino for 33 hours.
Despite these temporary challenges, the group's financial position remains exceptionally strong, with cash and liquid investments totaling HK$36.8 billion (approximately ₽384.93 billion).
It is worth noting that Galaxy Entertainment Group and Sands China were the leading operators in the Macau gaming market in July 2025.
