Galaxy Entertainment Group Ltd (GXYEF) Q3 2024 Earnings Call Highlights: Strong Revenue Growth ...
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 09 2024
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Source: Yahoo Finance
Financial Performance: Galaxy Entertainment Group reported a net revenue of $10.7 billion for Q3 2024, an 11% increase year-on-year, with Mass GGR rising by 13%, reaching 115% of 2019's level, despite challenges in the ultra-high-end market segment and adverse weather conditions affecting visitor numbers.
Market Strategy and Outlook: The company is focusing on enhancing product quality and entertainment strategies to maintain its market share above 20%, while also addressing competition through new offerings and Phase 4 developments, anticipating a leveling off of reinvestment rates in Q4.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
