Daily Asia Gaming eBrief: Galaxy books $2.57B in 1H24 GGR, profits up 52%

Friday 16th of August 2024

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Good morning. Galaxy Entertainment Group had much to be happy about when announcing its first half year results. The operator saw a 52 percent uptick in profit, on the back of a gross gaming revenue tally that reached $2.57 billion. The group is now focused on ramping up its newest offerings and preparing its Phase 4 - set to be more family-focused, but including gaming. Meanwhile, Thailand continues to see a push and pull regarding its proposed IR bill, as the removal of the casino-friendly Prime Minister raises succession questions.

What you need to know

Galaxy Entertainment Group sees $2.57 billion in GGR during 1H24, with profit up 52 percent yearly.
Removal of Thailand’s casino-propo n ent Prime Minister from office over ethical violation muddies the waters on casino bill.

On the radar

PH Resorts still in negotiations with possible investors for suspended Emerald Bay.
Australian Comm. Minister denies meeting with gambling executives.
Malaysian authorities foil major money laundering scheme linked to online gaming.
Anzac Day pokies ban proposal rejected by NSW parliament.

AGB Intelligence

RESULTS

Galaxy books $2.57B in 1H24 GGR, profit up 52%

Galaxy Entertainment Group registered heady results in the first half of the year, with gross gaming revenue rising to $2.57 billion, up by 37 percent yearly. Profits also rose by 52 percent, hitting $565 million. Mass market play continued to be strong and VIP made a resurgence. The group now aims to capitalize off its new Phase 4 - a family-focused expansion that also includes a gaming space.

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