{"id":3518,"date":"2018-05-04T08:00:16","date_gmt":"2018-05-04T12:00:16","guid":{"rendered":"https:\/\/www.realmoneygambling.com\/?p=3518"},"modified":"2018-05-04T08:00:16","modified_gmt":"2018-05-04T12:00:16","slug":"macaus-galaxy-notches-up-record-revenues-in-q1-2018","status":"publish","type":"post","link":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/","title":{"rendered":"Macau\u2019s Galaxy notches up record revenues in Q1 2018"},"content":{"rendered":"

\t\t\t\tMacau has often been cited as the Mecca of casinos. With this in mind, Galaxy Entertainment Group Ltd.\u2019s announcement, focusing on their first quarter 2018 results, did not come as much of a surprise. The group managed to notch up a 32{44b09f69e02b4a9880bf6e3f987d2afd285263f93639dabf176d3ae6ad2c79c6} year-on-year increase, data released on Thursday revealed<\/a>. The hard figures translate into a much more respectable sum, with Galaxy generating a total worth of $2.36 billion for the quarter.<\/p>\n

A Quarter Full of Profit<\/h2>\n

It was a most profitable quarter. According to the press release cited by multiple media outlets, the group\u2019s earnings adjusted for EBITDA, or pre-tax revenues, hit the respectable $547 million. Conversely, EBITDA adjusted for the quarter-on-quarter evolution of the group\u2019s operations was far more modest, with only 4{44b09f69e02b4a9880bf6e3f987d2afd285263f93639dabf176d3ae6ad2c79c6}, which the firm chalked up to a few bad turns of events.
\nIn the midst of these mixed missives, Galaxy founder and chairman Lui Chee Wo remained upbeat, explaining that 2018 has started well for the whole company, performing at an all-time high. He also didn\u2019t miss a chance to point out that there have been nine consecutive upticks in Macau in the recent past.
\nPerhaps the biggest monetary jab stemmed from the VIP revenue<\/a>, increasing by 44{44b09f69e02b4a9880bf6e3f987d2afd285263f93639dabf176d3ae6ad2c79c6}, which has been one of the most significant streams of revenue in the recent past. Despite the satisfactory performance of this exclusive segment, the mass market will need to continue developing if the region wants to maintain its stellar record of gambling revenues.
\nIn simple terms, mass market revenue tends to be a more steady flow of income and operators are largely plumping for it. With China dithering over gambling regulation, however, it is understandable why unexpected metrics in the balance sheet are feared by established gambling companies. However, the recent ban on poker did little to influence Macau\u2019s vibrant industry.
\nA further breakdown of the numbers showed that Galaxy generated $2.19 billion from gaming revenues alone in the first quarter. Mass table games commanded a respectable increase of 17{44b09f69e02b4a9880bf6e3f987d2afd285263f93639dabf176d3ae6ad2c79c6}.<\/p>\n

A Flagship Casino by the Numbers<\/h2>\n

Galaxy Macau, one of the company\u2019s main properties and among the most-frequented gambling venues, also managed to perform well, caught in the overall upswing of profit and mild gambling climate. The revenue for the casino alone stood at $1.65 billion in Q1 2018. EBITDA neared $420 million, almost not quite notching it. In contrast, StarWorld Macau, another noteworthy asset, managed to outstrip the rest of the company\u2019s casinos, scoring $573 in revenue. With Macau performing so well, the idea has been cottoning on that China may soon see its mainland casino<\/a>, too.<\/p>\n

A Final Thought About Macau and Galaxy<\/h2>\n

By one estimate<\/a>, Galaxy will continue to climb in terms of value. The casino will benefit from the steady inroads it has driven in the mass-market gambling segment. Arguably, Galaxy is doing a \u2018far better job\u2019 compared to other operators, both in terms of handling predicaments and positioning itself for a future growth. According to Union Gaming\u2019s Grant Covertsen, the upheavals in China are unlikely to affect Galaxy\u2019s long or short-term profits.<\/p>\n","protected":false},"excerpt":{"rendered":"Macau has often been cited as the Mecca of casinos. With this in mind, Galaxy Entertainment Group Ltd.\u2019s announcement, focusing on their first quarter 2018 results, did not come as much of a surprise. The group managed to notch up a 32{44b09f69e02b4a9880bf6e3f987d2afd285263f93639dabf176d3ae6ad2c79c6} year-on-year increase, data released on Thursday revealed. The hard figures translate into a […]","protected":false},"author":7,"featured_media":3519,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[83,84,85],"class_list":["post-3518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-galaxy-entertainment","tag-galaxy-macau","tag-starworld"],"acf":[],"yoast_head":"\nMacau\u2019s Galaxy notches up record revenues in Q1 2018<\/title>\n<meta name=\"description\" content=\"Macau has managed to notch up solid revenues in Q1, 2018. The trend is likely to continue in Q2 as well.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau\u2019s Galaxy notches up record revenues in Q1 2018\" \/>\n<meta property=\"og:description\" content=\"Macau has managed to notch up solid revenues in Q1, 2018. The trend is likely to continue in Q2 as well.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/\" \/>\n<meta property=\"og:site_name\" content=\"Real Money Gambling News\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-04T12:00:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.realmoneygambling.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/Galaxy-Macau-at-Night.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2272\" \/>\n\t<meta property=\"og:image:height\" content=\"1704\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jana Newland\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jana Newland\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Macau\u2019s Galaxy notches up record revenues in Q1 2018","description":"Macau has managed to notch up solid revenues in Q1, 2018. The trend is likely to continue in Q2 as well.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/","og_locale":"en_US","og_type":"article","og_title":"Macau\u2019s Galaxy notches up record revenues in Q1 2018","og_description":"Macau has managed to notch up solid revenues in Q1, 2018. The trend is likely to continue in Q2 as well.","og_url":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/","og_site_name":"Real Money Gambling News","article_published_time":"2018-05-04T12:00:16+00:00","og_image":[{"width":2272,"height":1704,"url":"https:\/\/www.realmoneygambling.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/Galaxy-Macau-at-Night.jpg","type":"image\/jpeg"}],"author":"Jana Newland","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jana Newland","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/","url":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/","name":"Macau\u2019s Galaxy notches up record revenues in Q1 2018","isPartOf":{"@id":"https:\/\/www.realmoneygambling.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/#primaryimage"},"image":{"@id":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/#primaryimage"},"thumbnailUrl":"https:\/\/www.realmoneygambling.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/Galaxy-Macau-at-Night.jpg","datePublished":"2018-05-04T12:00:16+00:00","dateModified":"2018-05-04T12:00:16+00:00","author":{"@id":"https:\/\/www.realmoneygambling.com\/news\/#\/schema\/person\/c54c14a8d8232e90b4aaf8890f3bb7a9"},"description":"Macau has managed to notch up solid revenues in Q1, 2018. The trend is likely to continue in Q2 as well.","breadcrumb":{"@id":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/#primaryimage","url":"https:\/\/www.realmoneygambling.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/Galaxy-Macau-at-Night.jpg","contentUrl":"https:\/\/www.realmoneygambling.com\/news\/wp-content\/uploads\/sites\/2\/2018\/05\/Galaxy-Macau-at-Night.jpg","width":2272,"height":1704,"caption":"Galaxy Macau performs well in Q1"},{"@type":"BreadcrumbList","@id":"https:\/\/www.realmoneygambling.com\/news\/macaus-galaxy-notches-up-record-revenues-in-q1-2018\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.realmoneygambling.com\/news\/"},{"@type":"ListItem","position":2,"name":"Macau\u2019s Galaxy notches up record revenues in Q1 2018"}]},{"@type":"WebSite","@id":"https:\/\/www.realmoneygambling.com\/news\/#website","url":"https:\/\/www.realmoneygambling.com\/news\/","name":"Real Money Gambling News","description":"Your #1 trusted source of independent gambling information.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.realmoneygambling.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.realmoneygambling.com\/news\/#\/schema\/person\/c54c14a8d8232e90b4aaf8890f3bb7a9","name":"Jana Newland","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.realmoneygambling.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c335c9edee67c72c3aade2172f4e8981?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c335c9edee67c72c3aade2172f4e8981?s=96&d=mm&r=g","caption":"Jana Newland"},"description":"Jana has always wanted to be a journalist. She started as a child by writing lyrics for songs, but her desire to explore more serious texts has led her to us. As part of our team, Jana covers complex topics, helping us break them down in an easy-to-read form for our loyal audience. She still enjoys short-form writing, though, and she\u2019s an avid music fan when she\u2019s not producing quality reports to help us push our content strategy further and break the news in a timely and accurate matter.","url":"https:\/\/www.realmoneygambling.com\/news\/author\/janaln\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/posts\/3518"}],"collection":[{"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/comments?post=3518"}],"version-history":[{"count":0,"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/posts\/3518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/media\/3519"}],"wp:attachment":[{"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/media?parent=3518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/categories?post=3518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realmoneygambling.com\/news\/wp-json\/wp\/v2\/tags?post=3518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}