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00027
GALAXY ENT
HKD
40.6800.660
(1.65%)
1D
High
40.760
Open
40.020
VWAP
40.20
Vol
23.14M
Mkt Cap
176.57B
Low
39.760
Amount
930.15M
EV/EBITDA(TTM)
12.87
Total Shares
4.38B
EV
156.21B
EV/OCF(TTM)
11.22
P/S(TTM)
3.88
Galaxy Entertainment Group Ltd is an investment holding company mainly engaged in the gaming and entertainment business. The Company operates its business through two segments. The Gaming and Entertainment segment is mainly engaged in the operations in casino games of chance or games of other forms, provision of hospitality and related services in Macau business. The Construction Materials segment is mainly engaged in the manufacture, sale and distribution of construction materials in Hong Kong, Macau and Mainland China.
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News
4.5
01-14aastocks<Midday Update> HSI Ends Midday at 27,092, Gaining 244 Points; HSTI Reaches 5,959, Up 89 Points; BABA Surges Over 5%; ALI HEALTH, ZIJIN MINING, CKH HOLDINGS, WANGUO GOLD GP, and WEICHAI POWER Achieve New Highs
Market Performance: The Hang Seng Index (HSI) rose by 244 points (0.9%) to 27,092, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also saw gains of 1.5% and 0.9%, respectively.
Active Heavyweights: Notable stock movements included Alibaba (BABA) increasing by 5.3% to $168.3, while Meituan (03690.HK) fell by 3% to $101.8. Tencent (00700.HK) and HKEX (00388.HK) also experienced gains.
Top Gainers: Ali Health (00241.HK) surged by 15.9% to $7.58, reaching a new high, while Haidilao (06862.HK) and Nongfu Spring (09633.HK) rose by 7.4% and 6.1%, respectively.
Significant Movements: Synagistics (02562.HK) saw a remarkable increase of 47.9%, while Dalipal Holding (01921.HK) experienced a significant drop of 12%. Other notable gainers included Q Tech (01478.HK) and AsiaInfo Tech (01675.HK) with increases of 13.5% and 11.1%.
8.0
01-13aastocksGALAXY ENT to Increase Salaries Starting in April, Anticipated to Impact 98% of Workforce
Salary Adjustments: GALAXY ENT will implement salary increases for eligible employees starting in April, benefiting approximately 98% of its workforce.
Increase Details: Senior managers and employees earning MOP16,000 or less will receive a uniform increase of MOP500, while those earning above MOP16,000 will see a 2% salary increase.
6.5
01-13aastocksUBS Favors GALAXY ENTERTAINMENT and WYNN MACAU; MO GGR Remains Steady in Early January
Macau's GGR Performance: Macau's gross gaming revenue (GGR) averaged MOP693 million per day recently, lower than the MOP800 million seen earlier this month, but still showing a solid average of MOP732 million month-to-date, reflecting a 24% year-on-year growth.
Comparison to Historical Data: The current GGR growth outperforms the seasonal month-on-month growth of about 2% observed from 2015 to 2019, indicating a strong recovery in the gaming sector.
UBS Recommendations: UBS has identified GALAXY ENT and WYNN MACAU as its top picks in the gaming sector, suggesting confidence in their performance amidst the current market conditions.
Short Selling Data: The report includes short selling data for both stocks, with GALAXY ENT showing a short selling ratio of 9.164% and WYNN MACAU at 8.143%, indicating investor sentiment towards these stocks.
6.5
01-13aastocks<Research>Jefferies: MO GGR Maintains Robust Beginning This Year
Macau GGR Growth: Macau experienced significant growth in gross gaming revenue (GGR) at the beginning of 2026, averaging MOP693 million per day for the week ending January 11, marking an 18% year-over-year increase, with expectations of 15-21% growth for the entire month.
Investor Preferences: Despite the positive GGR data, investors have shifted their focus towards US regional gaming stocks, although Jefferies believes that Macau-based stocks have stronger fundamentals compared to their counterparts.
Broker Recommendations: Jefferies continues to favor stocks such as Wynn (WYNN.US) and Las Vegas Sands (LVS.US) in the US market, along with Galaxy Entertainment (00027.HK) and Sands China Ltd (01928.HK) in Hong Kong.
Short Selling Data: Recent short selling data indicates significant activity in Hong Kong stocks, with Galaxy Entertainment and Sands China Ltd experiencing notable short selling ratios and amounts.
6.5
01-09aastocksCiti Projects 13% Year-Over-Year Increase in Casino Industry EBITDA Last Quarter, with GALAXY ENT Leading the Gains
Citi's EBITDA Forecast: Citi projects a 13% year-over-year increase in industry EBITDA for casino stocks, reaching USD2.246 billion, driven by a 15% rise in quarterly GGR and a slight increase in EBITDA margin to 27.5%.
Market Share Changes: GALAXY ENT and MGM CHINA are expected to show the largest quarter-over-quarter market share improvements, while SJM HOLDINGS is likely to experience the most significant market share loss due to satellite casino closures.
Investment Ratings: Citi has provided updated investment ratings and target prices for various casino stocks, with GALAXY ENT rated as a "Buy" with a target price of HKD54, while SJM HOLDINGS is rated as a "Sell" with a target price of HKD2.23.
Short Selling Data: The report includes short selling data for the stocks mentioned, indicating varying levels of short interest, with SANDS CHINA LTD having the highest short selling ratio at 14.120%.
Money Flow
Over the past 66 trading days, overall net money flow is -5.42M, with retail investors contributing 38.99M and major investors adding -57.79M.
Net Buy $ Volume
Net Sell $ Volume
Citi
Buy
maintain
$54
2026-01-09
Reason
The analyst rating from Citi is based on the expectation of a 13% year-over-year increase in industry EBITDA for casino stocks, driven by a 15% year-over-year increase in quarterly gross gaming revenue (GGR). This positive outlook suggests that the overall health of the casino industry is improving, leading to increased profitability, as indicated by a projected increase in the EBITDA margin to 27.5%.
Specifically, the report highlights that GALAXY ENT and MGM CHINA are likely to report the largest quarter-over-quarter market share improvements, which supports a "Buy" rating for these stocks. Conversely, SJM HOLDINGS is expected to experience the largest market share loss due to the closure of satellite casinos, resulting in a "Sell" rating for that stock. The ratings reflect the analysts' confidence in the growth potential of certain companies within the casino sector while cautioning against others facing challenges.
Citi
Buy
Price Target
$54
2026-01-09
maintain
The analyst rating from Citi is based on the expectation of a 13% year-over-year increase in industry EBITDA for casino stocks, driven by a 15% year-over-year increase in quarterly gross gaming revenue (GGR). This positive outlook suggests that the overall health of the casino industry is improving, leading to increased profitability, as indicated by a projected increase in the EBITDA margin to 27.5%.
Specifically, the report highlights that GALAXY ENT and MGM CHINA are likely to report the largest quarter-over-quarter market share improvements, which supports a "Buy" rating for these stocks. Conversely, SJM HOLDINGS is expected to experience the largest market share loss due to the closure of satellite casinos, resulting in a "Sell" rating for that stock. The ratings reflect the analysts' confidence in the growth potential of certain companies within the casino sector while cautioning against others facing challenges.
Citi
Citi
maintain
$54
2026-01-09
Reason
The analyst rating for GALAXY ENT (00027.HK) is a Buy, primarily due to the company's expected EBITDA growth of 31% YoY in 4Q25, which is significantly higher than the projected 14% growth for the overall Macau gaming industry. This anticipated growth is attributed to several concerts being held at Galaxy Macau and favorable VIP hold rates. The potential for above-average EBITDA growth is expected to drive a short-term increase in the stock price, leading Citi to set a target price of HKD54 for the company.
Citi
Price Target
$54
2026-01-09
maintain
The analyst rating for GALAXY ENT (00027.HK) is a Buy, primarily due to the company's expected EBITDA growth of 31% YoY in 4Q25, which is significantly higher than the projected 14% growth for the overall Macau gaming industry. This anticipated growth is attributed to several concerts being held at Galaxy Macau and favorable VIP hold rates. The potential for above-average EBITDA growth is expected to drive a short-term increase in the stock price, leading Citi to set a target price of HKD54 for the company.
CLSA
CLSA
Outperform
downgrade
2026-01-09
Reason
The analyst rating from CLSA is based on the expectation of a 15% growth in gross gaming revenue (GGR) for Macau's gaming industry, which is anticipated to lead to a 16% year-over-year increase in industry EBITDA for the fourth quarter of 2025, reaching USD2.2 billion. CLSA has revised its earnings forecasts by incorporating actual GGR data and adjusting market share and profit margin forecasts. As a result, they have lowered the target price for WYNN MACAU while raising it for GALAXY ENT, which remains rated as "Outperform." GALAXY ENT and MGM CHINA are highlighted as CLSA's top picks in the industry, with a focus on EBITDA profit margins and dividends being key considerations for investors ahead of the results release.
CLSA
Outperform
Price Target
2026-01-09
downgrade
The analyst rating from CLSA is based on the expectation of a 15% growth in gross gaming revenue (GGR) for Macau's gaming industry, which is anticipated to lead to a 16% year-over-year increase in industry EBITDA for the fourth quarter of 2025, reaching USD2.2 billion. CLSA has revised its earnings forecasts by incorporating actual GGR data and adjusting market share and profit margin forecasts. As a result, they have lowered the target price for WYNN MACAU while raising it for GALAXY ENT, which remains rated as "Outperform." GALAXY ENT and MGM CHINA are highlighted as CLSA's top picks in the industry, with a focus on EBITDA profit margins and dividends being key considerations for investors ahead of the results release.
Goldman Sachs
Goldman Sachs
maintain
$53.7
2026-01-08
Reason
The analyst rating from Goldman Sachs for GALAXY ENT is a "Buy" due to several positive factors. The company experienced a market share growth of 1.4 percentage points quarter-over-quarter, reaching 21.8%, which exceeded the target of approximately 21% set for year-end. This growth is attributed to a higher-than-normal VIP hold and an improvement in high-end luxury consumption in key markets such as Hong Kong and Hainan, which is expected to support retail sales recovery and year-over-year growth. Additionally, Goldman Sachs anticipates a luck-adjusted EBITDA of HKD3.6 billion for 4Q25, with the potential for even better actual performance. These factors contributed to the maintenance of a positive outlook and a target price of HKD53.7 for the stock.
Goldman Sachs
Price Target
$53.7
2026-01-08
maintain
The analyst rating from Goldman Sachs for GALAXY ENT is a "Buy" due to several positive factors. The company experienced a market share growth of 1.4 percentage points quarter-over-quarter, reaching 21.8%, which exceeded the target of approximately 21% set for year-end. This growth is attributed to a higher-than-normal VIP hold and an improvement in high-end luxury consumption in key markets such as Hong Kong and Hainan, which is expected to support retail sales recovery and year-over-year growth. Additionally, Goldman Sachs anticipates a luck-adjusted EBITDA of HKD3.6 billion for 4Q25, with the potential for even better actual performance. These factors contributed to the maintenance of a positive outlook and a target price of HKD53.7 for the stock.
Goldman Sachs
Goldman Sachs
downgrade
2026-01-05
Reason
The analyst rating from Goldman Sachs is influenced by several factors outlined in the article:
1. GGR Performance: Macau's Gross Gaming Revenue (GGR) rose by 15% year-over-year to MOP20.9 billion, which, while reaching the lower end of market expectations, indicates strong momentum in the market.
2. VIP Room Win Rates: The report notes that VIP room win rates fell below normal levels in the last 1-2 weeks, which may have impacted the overall GGR performance.
3. Quarterly Growth: The industry quarterly GGR increased by 14% year-over-year to MOP66.1 billion, showing an acceleration compared to previous quarters, and recovering to 92% of pre-pandemic levels in 2019.
4. Market Share Dynamics: Channel surveys suggest that certain companies, like GALAXY ENT and WYNN MACAU, slightly increased their market share, while others like SJM HOLDINGS and Melco Resorts lost market share.
5. MGM CHINA's Royalty Fee Increase: The announcement of MGM CHINA doubling its royalty fee to 3.5% of net revenue is expected to lead to a significant reduction in EBITDA and earnings forecasts for FY26-27, prompting Goldman Sachs to lower MGM CHINA's target price.
Overall, despite the short-term challenges indicated by the VIP win rates and MGM CHINA's fee increase, Goldman Sachs maintains a positive outlook for Macau casino stocks due to the strong GGR momentum and expected solid Q4 results.
Goldman Sachs
Price Target
2026-01-05
downgrade
The analyst rating from Goldman Sachs is influenced by several factors outlined in the article:
1. GGR Performance: Macau's Gross Gaming Revenue (GGR) rose by 15% year-over-year to MOP20.9 billion, which, while reaching the lower end of market expectations, indicates strong momentum in the market.
2. VIP Room Win Rates: The report notes that VIP room win rates fell below normal levels in the last 1-2 weeks, which may have impacted the overall GGR performance.
3. Quarterly Growth: The industry quarterly GGR increased by 14% year-over-year to MOP66.1 billion, showing an acceleration compared to previous quarters, and recovering to 92% of pre-pandemic levels in 2019.
4. Market Share Dynamics: Channel surveys suggest that certain companies, like GALAXY ENT and WYNN MACAU, slightly increased their market share, while others like SJM HOLDINGS and Melco Resorts lost market share.
5. MGM CHINA's Royalty Fee Increase: The announcement of MGM CHINA doubling its royalty fee to 3.5% of net revenue is expected to lead to a significant reduction in EBITDA and earnings forecasts for FY26-27, prompting Goldman Sachs to lower MGM CHINA's target price.
Overall, despite the short-term challenges indicated by the VIP win rates and MGM CHINA's fee increase, Goldman Sachs maintains a positive outlook for Macau casino stocks due to the strong GGR momentum and expected solid Q4 results.
Morgan Stanley
Morgan Stanley
downgrade
2026-01-02
Reason
The analyst rating from Morgan Stanley reflects a preference for GALAXY ENT and SANDS CHINA LTD due to their stronger performance and potential for growth, while MGM CHINA was downgraded to Equalweight due to its underperformance in December. The downgrade suggests concerns about MGM CHINA's ability to meet market expectations, despite the possibility of a short-term recovery. SJM HOLDINGS was maintained as Underweight, indicating a cautious outlook on its performance. Overall, the ratings are influenced by the recent GGR figures and the expected resilience of demand in 2026.
Morgan Stanley
Price Target
2026-01-02
downgrade
The analyst rating from Morgan Stanley reflects a preference for GALAXY ENT and SANDS CHINA LTD due to their stronger performance and potential for growth, while MGM CHINA was downgraded to Equalweight due to its underperformance in December. The downgrade suggests concerns about MGM CHINA's ability to meet market expectations, despite the possibility of a short-term recovery. SJM HOLDINGS was maintained as Underweight, indicating a cautious outlook on its performance. Overall, the ratings are influenced by the recent GGR figures and the expected resilience of demand in 2026.
JPMorgan
JPMorgan
Overweight
maintain
$50
2026-01-02
Reason
The analyst rating from JPMorgan is based on the following reasons:
1. Macau's GGR Performance: Macau's Gross Gaming Revenue (GGR) grew by 15% year-over-year to MOP20.9 billion in December 2025, recovering to 91% of pre-pandemic levels. Although this growth was below the market's expectation of 18%, it still indicates a positive trend in the gaming sector.
2. Future Growth Estimates: For 2026, JPMorgan projects a GGR increase of 5-6%, driven by expected growth in mass market and slot machine revenue, despite a predicted decline of 5% in VIP room revenue. This suggests a stable outlook for the overall market.
3. Profit Growth Projection: The broker anticipates a year-over-year growth of 6-7% in industry profit, which is expected to outpace revenue growth. This indicates improving profitability for the sector.
4. Stock Selection: JPMorgan expresses optimism about SANDS CHINA LTD for the short term and identifies GALAXY ENT as a long-term top pick, reflecting confidence in their performance and potential for growth.
5. Target Prices: The target prices set for SANDS CHINA LTD (HKD24.5) and GALAXY ENT (HKD50) further support the positive outlook, with both stocks rated as Overweight, indicating a favorable investment recommendation.
Overall, the combination of revenue recovery, profit growth expectations, and strategic stock selection underpins JPMorgan's positive analyst rating.
JPMorgan
Overweight
Price Target
$50
2026-01-02
maintain
The analyst rating from JPMorgan is based on the following reasons:
1. Macau's GGR Performance: Macau's Gross Gaming Revenue (GGR) grew by 15% year-over-year to MOP20.9 billion in December 2025, recovering to 91% of pre-pandemic levels. Although this growth was below the market's expectation of 18%, it still indicates a positive trend in the gaming sector.
2. Future Growth Estimates: For 2026, JPMorgan projects a GGR increase of 5-6%, driven by expected growth in mass market and slot machine revenue, despite a predicted decline of 5% in VIP room revenue. This suggests a stable outlook for the overall market.
3. Profit Growth Projection: The broker anticipates a year-over-year growth of 6-7% in industry profit, which is expected to outpace revenue growth. This indicates improving profitability for the sector.
4. Stock Selection: JPMorgan expresses optimism about SANDS CHINA LTD for the short term and identifies GALAXY ENT as a long-term top pick, reflecting confidence in their performance and potential for growth.
5. Target Prices: The target prices set for SANDS CHINA LTD (HKD24.5) and GALAXY ENT (HKD50) further support the positive outlook, with both stocks rated as Overweight, indicating a favorable investment recommendation.
Overall, the combination of revenue recovery, profit growth expectations, and strategic stock selection underpins JPMorgan's positive analyst rating.
UBS
UBS
maintain
$46.9 / $8.9
2026-01-02
Reason
The analyst rating from UBS is based on a constructive view of Macau's gaming industry for 2026, driven by several factors: resilient demand supported by upgraded tourism offerings, expanded market promotional activities, and a more diversified customer base. These elements are expected to sustainably drive growth, particularly in premium segments. UBS is particularly optimistic about GALAXY ENT and WYNN MACAU, assigning them target prices of $46.9 and $8.9 respectively, and rating them as "Buy."
UBS
Price Target
$46.9 / $8.9
2026-01-02
maintain
The analyst rating from UBS is based on a constructive view of Macau's gaming industry for 2026, driven by several factors: resilient demand supported by upgraded tourism offerings, expanded market promotional activities, and a more diversified customer base. These elements are expected to sustainably drive growth, particularly in premium segments. UBS is particularly optimistic about GALAXY ENT and WYNN MACAU, assigning them target prices of $46.9 and $8.9 respectively, and rating them as "Buy."
M Stanley
Outperform -> Equalweight
downgrade
2025-12-30
Reason
The analyst rating for MGM CHINA is maintained at "Outperform" despite a decrease in the target price from $22.6 to $20.9. The reasoning behind this rating is based on MGM CHINA's strong cash flow and balance sheets, which provide the company with the ability to raise dividends at their discretion. This financial strength positions MGM CHINA favorably in the industry, alongside GALAXY ENT, which is also highlighted as a top pick.
Outperform -> Equalweight
Price Target
2025-12-30
downgrade
The analyst rating for MGM CHINA is maintained at "Outperform" despite a decrease in the target price from $22.6 to $20.9. The reasoning behind this rating is based on MGM CHINA's strong cash flow and balance sheets, which provide the company with the ability to raise dividends at their discretion. This financial strength positions MGM CHINA favorably in the industry, alongside GALAXY ENT, which is also highlighted as a top pick.
M Stanley
M Stanley
Overweight -> Equalweight
downgrade
$19
2025-12-29
Reason
The analyst rating changes are based on the following reasons:
1. MGM CHINA (02282.HK): Downgraded from Overweight to Equalweight due to a significant decline in stock price (-15.404%) and a high short selling ratio (28.289%), indicating potential concerns about the stock's performance.
2. GALAXY ENT (00027.HK): Upgraded from Equalweight to Overweight, reflecting a positive outlook despite a slight decrease in stock price (-2.822%). The upgrade suggests confidence in the stock's potential for recovery or growth.
3. SANDS CHINA LTD (01928.HK): Maintained an Overweight rating, indicating continued confidence in the stock despite a decline in price (-4.367%).
4. WYNN MACAU (01128.HK): Also maintained an Overweight rating, suggesting a stable outlook despite a minor price drop (-3.852%).
5. SJM HOLDINGS (00880.HK): Rated Underweight, reflecting a negative outlook with a small price decline (-2.016%) and lower confidence in the stock's performance.
Overall, the adjustments in ratings reflect the analysts' assessments of the stocks' performance, market conditions, and investor sentiment.
M Stanley
Overweight -> Equalweight
Price Target
$19
2025-12-29
downgrade
The analyst rating changes are based on the following reasons:
1. MGM CHINA (02282.HK): Downgraded from Overweight to Equalweight due to a significant decline in stock price (-15.404%) and a high short selling ratio (28.289%), indicating potential concerns about the stock's performance.
2. GALAXY ENT (00027.HK): Upgraded from Equalweight to Overweight, reflecting a positive outlook despite a slight decrease in stock price (-2.822%). The upgrade suggests confidence in the stock's potential for recovery or growth.
3. SANDS CHINA LTD (01928.HK): Maintained an Overweight rating, indicating continued confidence in the stock despite a decline in price (-4.367%).
4. WYNN MACAU (01128.HK): Also maintained an Overweight rating, suggesting a stable outlook despite a minor price drop (-3.852%).
5. SJM HOLDINGS (00880.HK): Rated Underweight, reflecting a negative outlook with a small price decline (-2.016%) and lower confidence in the stock's performance.
Overall, the adjustments in ratings reflect the analysts' assessments of the stocks' performance, market conditions, and investor sentiment.
Valuation Metrics
Forward PE
N/A
5Y Average PE
35.08
Current PE
14.80
Overvalued PE
108.51
Undervalued PE
-38.36
Forward EV/EBITDA
N/A
5Y Average EV/EBITDA
-3.15
Current EV/EBITDA
10.42
Overvalued EV/EBITDA
104.89
Undervalued EV/EBITDA
-111.18
Forward PS
5Y Average PS
6.18
Current PS
3.39
Overvalued PS
9.68
Undervalued PS
2.68
Financials
Al Analysis
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Daily
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