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Consumer Services

Galaxy Entertainment Group Ltd.

Company Background

Galaxy Entertainment Group is a major operator of casinos in Macau.


When Macau authorities opened the gaming sector to foreign-affiliated companies in 2002, Galaxy Entertainment was quick to acquire a license. Rather than simply teaming up with Las Vegas-based companies, Galaxy sought to build expertise by running small and midsize casinos. In 2011, it opened the Galaxy Macau, a large resort in Cotai.


With the opening of the Galaxy Macau Phase 2 in May 2015, the resort's total floor area doubled to about 1.1 million sq. meters. Five luxury hotels, including The Ritz-Carlton, Hotel Okura and Banyan Tree, offer some 3,600 rooms. The complex also has a whirlpool and a 3,000-seat theater to attract families.


Plans for another two phases are expected to bring the company's total investment in Macau to about 100 billion Hong Kong dollars.


Chairman Lui Che-woo started out as an importer of building materials from Okinawa to Hong Kong after World War II. He made his fortune in the real estate and hotel businesses.


Galaxy's casino business is led by Deputy Chairman Francis Lui Yiu-tung, the chairman's first son.

Business Summary

Galaxy Entertainment Group Ltd. operates as an investment holding company. The firm engages in the management of casino games and provision of hospitality and related services. It operates through the following segments: Gaming and Entertainment, Construction Materials and Corporate and Treasury Management. The Gaming and Entertainment segment manages gaming facilities and offers hospitality services. The Construction Materials segment includes manufacture and sale of construction materials. The Corporate and Treasury management segment represents corporate level activities including central treasury management and administrative function. The company was founded by Che Woo Lui in 1955 and is headquartered in Hong Kong.

Financial Highlights

Dec 2022 HKDUSD
Gross Profit-779.31M-99.52M
Operating income-3,441.57M-439.50M
Income before tax-3,262.64M-416.65M
Net income-3,462.58M-442.19M
Diluted EPS-0.78-0.10
Dividends Per Share----
Total Assets80,961.33M10,373.07M
Total liabilities16,495.96M2,113.52M
Total equity63,913.93M8,188.89M
Operating cash flow----
Currency in HKDCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 29,591.37M 29,414.70M 8,391.10M 12,952.77M 8,401.33M
Gross Profit 17,381.67M 16,889.95M -2,307.96M 3,434.42M -779.31M
Operating income 12,218.71M 11,767.69M -5,156.55M 105.07M -3,441.57M
Income before tax 13,613.76M 12,751.66M -4,215.37M 1,138.41M -3,262.64M
Net income 13,507.38M 13,041.54M -3,973.07M 1,326.23M -3,462.58M
EBITDA 15,444.47M 15,224.29M -2,339.81M 2,369.19M -1,353.23M
Diluted EPS 3.11 3.00 -0.91 0.30 -0.78
Dividends Per Share 0 0 0 0 --
Total Assets 87,383.83M 95,696.17M 92,726.77M 85,243.42M 80,961.33M
Total liabilities 24,552.63M 21,541.29M 24,689.59M 16,167.68M 16,495.96M
Total equity 62,280.25M 73,587.39M 67,423.78M 68,424.67M 63,913.93M
Operating cash flow 15,003.83M 21,051.20M -6,099.11M -2,247.59M --
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 3,775.59M 3,754.17M 1,081.88M 1,666.41M 1,072.90M
Gross Profit 2,217.74M 2,155.65M -297.57M 441.84M -99.52M
Operating income 1,558.99M 1,501.90M -664.84M 13.51M -439.50M
Income before tax 1,736.99M 1,627.48M -543.49M 146.46M -416.65M
Net income 1,723.42M 1,664.48M -512.25M 170.62M -442.19M
EBITDA 1,970.57M 1,943.06M -301.67M 304.80M -172.81M
Diluted EPS 0.39 0.38 -0.11 0.03 -0.10
Dividends Per Share 0 0 0 0 --
Total Assets 11,161.05M 12,281.65M 11,958.80M 10,933.83M 10,373.07M
Total liabilities 3,135.97M 2,764.61M 3,184.17M 2,073.76M 2,113.52M
Total equity 7,954.71M 9,444.20M 8,695.52M 8,776.55M 8,188.89M
Operating cash flow 1,914.35M 2,686.74M -786.37M -289.15M --

Valuation Measures

Dec 2022
Operating margin-40.96%
Profit margin-41.21%

Key executives

  • Group Chief Financial Officer: Robert Charles Drake
  • Senior Director-Information Systems & Technology: James Houghton
  • Group Director-Human Resources & Administration: Wai Ling Lui
  • Chief Operating Officer-Macau: Kevin L. Kelley
  • Director-International Premium & Mass Market Dev: Raymond Yin Min


  • LUI YIU TUNG (10.2%)
  • Lui Che Woo Foundation Ltd. (6.7%)
  • Capital Research & Management Co. (World Investors) (5.3%)
  • Capital Research & Management Co. (Global Investors) (3.3%)
  • Lui Che Woo Prize Ltd. (1.5%)
  • The Vanguard Group, Inc. (1.2%)
  • Schroder Investment Management (Hong Kong) Ltd. (1.1%)
  • Norges Bank Investment Management (1.1%)
  • FIL Investment Management (Hong Kong) Ltd. (1.0%)

Contact Details

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Last Updated on 30 Mar, 2023

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