Galaxy returns capital to Macau shareholders in Q4 results

Galaxy Entertainment Group has announced a quarterly group net revenue of HKD$10.3bn, up 254 per cent year-on-year and up seven per cent quarter-on-quarter, for Q4 2023.

Adjusted EBITDA was $2.8bn, versus $(0.2)bn in Q4 2022 and $2.8bn in Q3 2023.

For the whole financial year ending December 31, 2023, group net revenue reached $35.7bn, up 211 per cent year-on-year. Adjusted EBITDA was $10bn versus $(0.6)bn in 2022.

Dr. Lui Che Woo, chairman of GEG said: “Our balance sheet continued to be solid with total cash and liquid investments of $25bn and net cash of $23.5bn as of December 31, 2023. We paid a special dividend of $0.20 per share on October 27, 2023 and we are pleased to announce another special dividend of $0.30 per share to be paid on or about April 26, 2024.

“We are the first Macau concessionaire to resume dividends and return capital to shareholders after the border reopened. These dividends demonstrate our continued confidence in the longer-term outlook of Macau and for the company. Our solid balance sheet and cash flow from operations allows us to fund our development pipeline and pursue our international expansion ambitions.”