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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. is an investment holding company, which 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 2020 HKDUSD
Revenue8,391.10M1,081.88M
Gross Profit-2,307.96M-297.57M
Operating income-5,156.55M-664.84M
Income before tax-4,215.37M-543.49M
Net income-3,973.07M-512.25M
EBITDA-2,339.81M-301.67M
Diluted EPS-0.91-0.11
Dividends Per Share00
Total Assets92,726.77M11,958.80M
Total liabilities24,689.59M3,184.17M
Total equity67,423.78M8,695.52M
Operating cash flow-6,099.11M-786.37M
Currency in HKDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 34,137.96M 26,640.53M 29,591.37M 29,414.70M 8,391.10M
Gross Profit 11,601.33M 14,750.82M 17,381.67M 16,889.95M -2,307.96M
Operating income 6,110.15M 9,850.47M 12,218.71M 11,767.69M -5,156.55M
Income before tax 6,275.80M 10,628.37M 13,613.76M 12,751.66M -4,215.37M
Net income 6,283.39M 10,504.36M 13,507.38M 13,041.54M -3,973.07M
EBITDA 9,593.50M 13,110.06M 15,444.47M 15,224.29M -2,339.81M
Diluted EPS 1.46 2.43 3.11 3.00 -0.91
Dividends Per Share 0 0 0 0 0
Total Assets 66,261.03M 83,814.68M 87,383.83M 95,696.17M 92,726.77M
Total liabilities 19,398.01M 27,799.08M 24,552.63M 21,541.29M 24,689.59M
Total equity 46,345.35M 55,481.69M 62,280.25M 73,587.39M 67,423.78M
Operating cash flow 12,863.55M 19,144.37M 15,003.83M 21,051.20M -6,099.11M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 4,397.82M 3,418.60M 3,775.59M 3,754.17M 1,081.88M
Gross Profit 1,494.54M 1,892.87M 2,217.74M 2,155.65M -297.57M
Operating income 787.14M 1,264.04M 1,558.99M 1,501.90M -664.84M
Income before tax 808.48M 1,363.86M 1,736.99M 1,627.48M -543.49M
Net income 809.45M 1,347.95M 1,723.42M 1,664.48M -512.25M
EBITDA 1,235.88M 1,682.32M 1,970.57M 1,943.06M -301.67M
Diluted EPS 0.18 0.31 0.39 0.38 -0.11
Dividends Per Share 0 0 0 0 0
Total Assets 8,546.33M 10,721.69M 11,161.05M 12,281.65M 11,958.80M
Total liabilities 2,501.95M 3,556.09M 3,135.97M 2,764.61M 3,184.17M
Total equity 5,977.61M 7,097.29M 7,954.71M 9,444.20M 8,695.52M
Operating cash flow 1,657.14M 2,456.66M 1,914.35M 2,686.74M -786.37M

Valuation Measures

Dec 2020
PER--
ROA-4.21%
ROE-5.63%
Operating margin-61.45%
Profit margin-47.34%

Key executives

  • Group Chief Financial Officer: Robert Charles Drake
  • Director-Information Systems & Technology: James Houghton
  • Group Director-Human Resources & Administration: Wai Ling Lui
  • Executive Director & MD-Construction Materials: Ying Keung Chee
  • Director-Strategic Planning: Chi Kay To

Shareholders

  • LUI FAMILY /GALAXY ENTERTAINMENT/ (31.2%)
  • LUI YIU TUNG (10.3%)
  • Lui Che Woo Foundation Ltd. (6.7%)
  • Capital Research & Management Co. (World Investors) (3.1%)
  • FIL Investment Management (Hong Kong) Ltd. (1.5%)
  • Lui Che Woo Prize Ltd. (1.5%)
  • Capital Research & Management Co. (Global Investors) (1.4%)
  • The Vanguard Group, Inc. (1.1%)
  • LUI CHE WOO (0.9%)
  • Schroder Investment Management (Hong Kong) Ltd. (0.8%)

Contact Details

Related Companies

  • Shenzhen Anpu Development Co., Ltd.
  • Boracay Philippines Resort & Leisure Corp.
  • Galaxy Entertainment Japan KK
  • StarWorld Hotel Co., Ltd.
  • San Fok Va International Import & Export Co., Ltd.
  • Premium Hotel Management Ltd.
  • Perfect Contract Management Services Ltd.
  • Perfect Assets Real Estate Ltd.
  • Macau Hengqin Sports & Resort Development Ltd.
  • K. Wah (Macao Commercial Offshore) Co., Ltd.
  • K. Wah Construction Materials (Macau) Ltd.
  • GC Security Services Ltd.
  • Galaxy Cotai Project Management Ltd.
  • Fast Concrete Ltd.
  • Galaxy Travel Transportation CrossBorder (Macau) Ltd.
  • Wilfred International Ltd.
  • Right Grand Investments Ltd.
  • Prosperous Fields Ltd.
  • High Regard Investments Ltd.
  • Forcecharm Investments Ltd.
  • Eternal Profits International Ltd.
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  • Canton Treasure Group Ltd.
  • Blossom Fountain Ltd.
  • Chelford Ltd.
  • Galaxy Entertainment Aviation Cl2012 Ltd.
  • Zhuhai Hengqin GEG Sports Resort Development Co., Ltd.
  • Shanghai K. Wah Concrete Co., Ltd.
  • Yunnan K. Wah Liangxun Consulting Co., Ltd.
  • Jing Gang K. Wah Consultancy (Beijing) Co., Ltd.

Competitors

  • Wynn Macau Ltd.
  • Studio City International Holdings Ltd. Sponsored ADR Class A
  • Wynn Resorts, Limited
  • Melco Resorts & Entertainment Limited Sponsored ADR
  • Las Vegas Sands Corp.
  • Sands China Ltd.
Last Updated on 22 Oct, 2021

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