Macau casino operator Galaxy Entertainment Group reported a slight drop in popular market gross gaming revenue (GGR) quarter-on-quarter in the three months to March 31, but VIP GGR rose nearly 43% quarter-on-quarter, though at a much lower level than pre-pandemic trading.
The company's adjusted net income before interest, taxes, depreciation and amortization (EBITDA) in the first quarter rose 48.7% year-on-year and 1.0% quarter-on-quarter to about HK$2.84 billion (US$362.9 million).
First-quarter net sales rose 49.6% year-over-year to HK$10.55 billion. These sales were up 2.3% quarter-over-quarter.
The company provided this information in an unaudited first-quarter earnings highlight filed with the Hong Kong Stock Exchange on Tuesday.
"We were particularly encouraged by the casino performance during the Golden Week in May and the reimagining of the game floor at Galaxy Macau," company president Luiziu said in a release.
He first mentioned a five-day holiday period in mainland China, Macau's main tourist supply market, which began on May 1, and secondly, a main floor change at the group's Kotai flagship resort, Galaxy Macau.
The group's overall gross profit from the group in the first quarter was just shy of HK$9.63 billion, up 58.7% from a year earlier. On a sequential basis, the figure was up 4.2%.
Mass GGR rose 56.6% year-on-year to close to HK$7.73 billion, but was down 1.3% from the fourth quarter of last year.
The electronic gaming division posted first-quarter revenue of HK$600 million, up 78.0% year-over-year and 18.1% quarter-over-quarter.
Trading volume for rolling chips was slightly below HK$38.46 billion in the first quarter, up 78.5% year-on-year. It was up 11.2% quarter-on-quarter.
The VIP segment's GGR was just shy of HK$1.3 billion, up 63.6% year-over-year and 42.9% quarter-over-quarter. 바카라사이트 추천
The Galaxy Entertainment chairman also noted comments in the first quarter that he had "significantly adjusted the game floor for Galaxy Macao."
"In the short term, we were hit hard in January and early February, but when the renovation was completed just before the Lunar New Year, we saw a "significant improvement in customer traffic flow across the entire floor."
Referring to gaming tables with improved security and casino exchange rate tracking, Louis added: "We are in the process of implementing smart tables that can increase efficiency across the gaming industry across our portfolio.
"We are also updating our slot machine products and are in the process of making various upgrades to Starworld Macau," the chairman said, referring to the group's first purpose casino hotel property launched in 2006.
The chairman also mentioned the announcement in April of the capella of the Galaxy Macau Hotel, located in Galaxy Macau's new luxury tower.