Upcoming Dividend • May 15
Upcoming dividend of HK$0.80 per share Eligible shareholders must have bought the stock before 22 May 2026. Payment date: 12 June 2026. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (4.3%). Live News • May 13
Galaxy Entertainment Group Q1 Earnings Rise With Expanded Non-Gaming Events And Dividend Plans Galaxy Entertainment Group reported Q1 2026 net revenue that was 11% higher year on year, with Group Normalised EBITDA up 21% to $3.6b.
Adjusted EBITDA for the quarter was 80% higher year on year, while quarter-on-quarter performance was described as stable after adjusting for luck and competitive pressures.
The company highlighted minimal debt, large cash reserves and continued expansion of non-gaming activities, including over 80 concerts and major sports events, and proposed a final dividend of $0.80 per share payable in June 2026.
The mix of higher year-on-year earnings and a strong balance sheet points to a business that currently has scope to keep investing in its premium customers and non-gaming projects while still returning cash to shareholders.
The growing line-up of MICE, entertainment and sports events may gradually increase the importance of non-gaming revenue, but it also exposes the company to execution risk if these new ventures do not attract the expected demand. Buy Or Sell Opportunity • May 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to HK$32.78. The fair value is estimated to be HK$41.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 7.3% per annum over the same time period. Reported Earnings • Apr 11
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: HK$2.44 (up from HK$2.00 in FY 2024). Revenue: HK$49.3b (up 13% from FY 2024). Net income: HK$10.7b (up 22% from FY 2024). Profit margin: 22% (up from 20% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 01
Final dividend of HK$0.80 announced Shareholders will receive a dividend of HK$0.80. Ex-date: 22nd May 2026 Payment date: 12th June 2026 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 27
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: HK$2.44 (up from HK$2.00 in FY 2024). Revenue: HK$50.7b (up 17% from FY 2024). Net income: HK$10.7b (up 22% from FY 2024). Profit margin: 21% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Feb 09
Galaxy Entertainment Group Limited to Report Fiscal Year 2025 Results on Feb 26, 2026 Galaxy Entertainment Group Limited announced that they will report fiscal year 2025 results on Feb 26, 2026 Buy Or Sell Opportunity • Dec 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to HK$39.78. The fair value is estimated to be HK$50.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Buy Or Sell Opportunity • Oct 15
Now 21% overvalued Over the last 90 days, the stock has fallen 2.0% to HK$36.94. The fair value is estimated to be HK$30.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 7.7% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Upcoming Dividend • Sep 17
Upcoming dividend of HK$0.70 per share Eligible shareholders must have bought the stock before 24 September 2025. Payment date: 31 October 2025. Payout ratio is a comfortable 55% and the cash payout ratio is 92%. Trailing yield: 3.4%. Lower than top quartile of Hong Kong dividend payers (6.6%). In line with average of industry peers (3.6%). Declared Dividend • Aug 14
First half dividend of HK$0.70 announced Shareholders will receive a dividend of HK$0.70. Ex-date: 24th September 2025 Payment date: 31st October 2025 Dividend yield will be 3.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but not adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 13
First half 2025 earnings released: EPS: HK$1.20 (vs HK$1.00 in 1H 2024) First half 2025 results: EPS: HK$1.20 (up from HK$1.00 in 1H 2024). Revenue: HK$23.2b (up 8.3% from 1H 2024). Net income: HK$5.24b (up 19% from 1H 2024). Profit margin: 23% (up from 20% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Aug 12
Galaxy Entertainment Group Limited Announces Interim Dividend for the Six Months Ended June 30, 2025, Payable on or About October 31, 2025 Galaxy Entertainment Group Limited's Board announced an interim dividend of $0.70 per share for the six months ended June 30, 2025 to be paid on or about 31 October 2025. Announcement • Jul 29
Galaxy Entertainment Group Limited to Report First Half, 2025 Results on Aug 12, 2025 Galaxy Entertainment Group Limited announced that they will report first half, 2025 results on Aug 12, 2025 Recent Insider Transactions • Jun 03
Independent Non-Executive Director recently sold HK$19m worth of stock On the 28th of May, Michael Victor Mecca sold around 576k shares on-market at roughly HK$33.60 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$43m more than they bought in the last 12 months. Upcoming Dividend • May 16
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 23 May 2025. Payment date: 12 June 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Hong Kong dividend payers (7.7%). In line with average of industry peers (3.3%). Reported Earnings • Apr 12
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: HK$2.00 (up from HK$1.56 in FY 2023). Revenue: HK$43.5b (up 22% from FY 2023). Net income: HK$8.76b (up 28% from FY 2023). Profit margin: 20% (up from 19% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 4.9%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$25.55, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Hospitality industry in Hong Kong. Total loss to shareholders of 42% over the past three years. Recent Insider Transactions • Mar 09
Independent Non-Executive Director recently sold HK$16m worth of stock On the 4th of March, Michael Victor Mecca sold around 500k shares on-market at roughly HK$31.66 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$23m more than they bought in the last 12 months. Reported Earnings • Feb 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: HK$2.00 (up from HK$1.56 in FY 2023). Revenue: HK$44.7b (up 25% from FY 2023). Net income: HK$8.76b (up 28% from FY 2023). Profit margin: 20% (in line with FY 2023). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 4.9%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Feb 27
Galaxy Entertainment Group Limited, Annual General Meeting, May 08, 2025 Galaxy Entertainment Group Limited, Annual General Meeting, May 08, 2025. Announcement • Feb 14
Galaxy Entertainment Group Limited to Report Fiscal Year 2024 Results on Feb 27, 2025 Galaxy Entertainment Group Limited announced that they will report fiscal year 2024 results on Feb 27, 2025 Announcement • Dec 13
Galaxy Entertainment Group Limited Announces Appointment of Francis Lui Yiu Tung as Chairman of the Board The board of directors (the "Board") of Galaxy Entertainment Group Limited ("GEG", together with its subsidiaries, the "Group") announced that Mr. Francis Lui Yiu Tung ("Mr. Lui"), an executive Director of GEG and was appointed as the Deputy Chairman of the Board since February 1997, has been appointed as the Chairman of the Board with effect from 13 December 2024. Recent Insider Transactions • Nov 16
Independent Non-Executive Director recently sold HK$7.3m worth of stock On the 8th of November, Michael Victor Mecca sold around 200k shares on-market at roughly HK$36.65 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$37.80, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Hospitality industry in Hong Kong. Total loss to shareholders of 2.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$22.13 per share. Upcoming Dividend • Sep 17
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 24 September 2024. Payment date: 25 October 2024. Trailing yield: 3.5%. Lower than top quartile of Hong Kong dividend payers (8.7%). Lower than average of industry peers (4.0%). Reported Earnings • Sep 14
First half 2024 earnings released: EPS: HK$1.00 (vs HK$0.66 in 1H 2023) First half 2024 results: EPS: HK$1.00 (up from HK$0.66 in 1H 2023). Revenue: HK$21.5b (up 37% from 1H 2023). Net income: HK$4.39b (up 52% from 1H 2023). Profit margin: 20% (up from 18% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 17
First half dividend of HK$0.50 announced Shareholders will receive a dividend of HK$0.50. Ex-date: 24th September 2024 Payment date: 25th October 2024 Dividend yield will be 2.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (26% earnings payout ratio) and cash flows (78% cash payout ratio). The dividend has increased by an average of 10% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 16
First half 2024 earnings released: EPS: HK$1.00 (vs HK$0.66 in 1H 2023) First half 2024 results: EPS: HK$1.00 (up from HK$0.66 in 1H 2023). Revenue: HK$21.5b (up 37% from 1H 2023). Net income: HK$4.39b (up 52% from 1H 2023). Profit margin: 20% (up from 18% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Aug 15
Galaxy Entertainment Group Limited Announces Interim Dividend for the Six Months Ended June 30, 2024, Payable on or About 25 October 2024 Galaxy Entertainment Group Limited announced interim dividend of $0.50 per share for the six months ended June 30, 2024 to be paid on or about 25 October 2024. Record date: 30 September 2024, Ex-dividend date: 24 September 2024. Announcement • Aug 05
Galaxy Entertainment Group Limited to Report First Half, 2024 Results on Aug 15, 2024 Galaxy Entertainment Group Limited announced that they will report first half, 2024 results on Aug 15, 2024 Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$34.20, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Hospitality industry in Hong Kong. Total loss to shareholders of 49% over the past three years. Reported Earnings • Apr 12
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: HK$1.56 (up from HK$0.79 loss in FY 2022). Revenue: HK$35.7b (up 209% from FY 2022). Net income: HK$6.83b (up HK$10.3b from FY 2022). Profit margin: 19% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 15
Upcoming dividend of HK$0.30 per share Eligible shareholders must have bought the stock before 22 March 2024. Payment date: 26 April 2024. The company last paid an ordinary dividend in August 2015. The average dividend yield among industry peers is 1.7%. Reported Earnings • Feb 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: HK$1.56 (up from HK$0.79 loss in FY 2022). Revenue: HK$36.5b (up 216% from FY 2022). Net income: HK$6.83b (up HK$10.3b from FY 2022). Profit margin: 19% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Feb 17
Galaxy Entertainment Group Limited to Report Fiscal Year 2023 Results on Feb 28, 2024 Galaxy Entertainment Group Limited announced that they will report fiscal year 2023 results on Feb 28, 2024 Upcoming Dividend • Sep 18
Upcoming dividend of HK$0.20 per share Eligible shareholders must have bought the stock before 25 September 2023. Payment date: 27 October 2023. The company last paid an ordinary dividend in August 2015. The average dividend yield among industry peers is 1.3%. Announcement • Aug 18
Galaxy Entertainment Group Limited Announces Special Dividend Payable on or About 27 October 2023 Galaxy Entertainment Group Limited announced a special dividend of $0.2 per share to be paid on or about 27 October 2023. Reported Earnings • Aug 18
First half 2023 earnings released: EPS: HK$0.66 (vs HK$0.20 loss in 1H 2022) First half 2023 results: EPS: HK$0.66 (up from HK$0.20 loss in 1H 2022). Revenue: HK$15.7b (up 140% from 1H 2022). Net income: HK$2.89b (up HK$3.74b from 1H 2022). Profit margin: 18% (up from net loss in 1H 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. New Risk • Aug 16
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: HK$7.9m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Announcement • Aug 08
Galaxy Entertainment Group Limited to Report First Half, 2023 Results on Aug 17, 2023 Galaxy Entertainment Group Limited announced that they will report first half, 2023 results on Aug 17, 2023 Recent Insider Transactions • Jul 16
Board Member recently sold HK$4.7m worth of stock On the 11th of July, Ying Keung Chee sold around 90k shares on-market at roughly HK$52.34 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$7.9m more than they bought in the last 12 months. Announcement • May 17
Galaxy Entertainment Group Limited to Report Q1, 2023 Results on May 22, 2023 Galaxy Entertainment Group Limited announced that they will report Q1, 2023 results on May 22, 2023 Reported Earnings • Apr 20
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: HK$0.79 loss per share (down from HK$0.30 profit in FY 2021). Net loss: HK$3.43b (down 359% from profit in FY 2021). Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 37%. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 24
Full year 2022 earnings released: HK$0.79 loss per share (vs HK$0.30 profit in FY 2021) Full year 2022 results: HK$0.79 loss per share (down from HK$0.30 profit in FY 2021). Revenue: HK$11.8b (down 41% from FY 2021). Net loss: HK$3.43b (down 359% from profit in FY 2021). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 32% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Announcement • Feb 14
Galaxy Entertainment Group Limited to Report Fiscal Year 2022 Results on Feb 23, 2023 Galaxy Entertainment Group Limited announced that they will report fiscal year 2022 results on Feb 23, 2023 Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Patrick Wong was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 19
First half 2022 earnings: EPS and revenues exceed analyst expectations First half 2022 results: HK$0.20 loss per share (down from HK$0.22 profit in 1H 2021). Revenue: HK$6.90b (down 35% from 1H 2021). Net loss: HK$850.5m (down 190% from profit in 1H 2021). Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Over the next year, revenue is forecast to grow 67%, compared to a 15% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Major Estimate Revision • May 14
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from HK$25.4b to HK$24.2b. EPS estimate also fell from HK$0.76 per share to HK$0.65 per share. Net income forecast to grow 117% next year vs 35% growth forecast for Hospitality industry in Hong Kong. Consensus price target broadly unchanged at HK$53.46. Share price fell 3.6% to HK$41.55 over the past week. Major Estimate Revision • Apr 27
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from HK$26.4b to HK$25.4b. EPS estimate also fell from HK$0.88 per share to HK$0.76 per share. Net income forecast to grow 169% next year vs 35% growth forecast for Hospitality industry in Hong Kong. Consensus price target broadly unchanged at HK$53.64. Share price fell 4.7% to HK$44.80 over the past week. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Patrick Wong was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 30
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: HK$0.30 (up from HK$0.92 loss in FY 2020). Net income: HK$1.33b (up HK$5.30b from FY 2020). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) exceeded analyst estimates by 294%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance.