(AsiaGameHub) – Leading Macao casino share prices are declining or remaining flat following disappointing first-quarter earnings from major operators.
Galaxy Entertainment Group’s pre-audit report indicated an 11% year-on-year increase in net revenue to nearly $1.6 billion, according to Japanese-language outlet Macau Shimbun. However, the company also experienced a 10% decline in revenue compared to the fourth quarter of fiscal year 2025.
Gross gaming revenue rose on a year-over-year basis, but it dropped by 9% sequentially.
The firm reported increases in mass gaming, VIP room, and slots revenues compared to the previous year. However, these segments also declined in the most recent quarter. The most significant drop was in VIP revenue, which fell by 25% since the start of the calendar year.
Galaxy’s net liabilities stood at $345 million, with cash and liquid investments amounting to approximately $4.7 billion before audit adjustments.
The company is currently developing new dining, lifestyle, leisure, and retail facilities at its Galaxy Macau resort. This project includes opening new casino spaces and adding a new hotel with 1,350 rooms.
Additionally, Galaxy has begun renovating its StarWorld Hotel on the Macao Peninsula, which involves remodeling two casino floors. The company expects the StarWorld renovation to be completed by the end of Q1 2027.
Macao Casino Earnings: SJM Holdings Revenues Drop 21%
Earlier this month, the same media outlet reported that SJM Holdings, another Hong Kong-listed operator holding a Macao casino concession, also saw sequential revenue declines.
SJM operates multiple casino properties under the Lisboa brand.
Company filings show that SJM’s net revenue for Q1 this year was $754 million, down 21.1% year-on-year. Gross gambling revenue also decreased by nearly 19%.
Profit attributable to parent company shareholders fell from a surplus of $4 million to a deficit of almost $8 million.
The company’s share of Macao’s total casino revenue declined by 3.9 percentage points to just under 10%.
In contrast, rival MGM China earlier reported a 10% year-on-year rise in revenues for Q1, alongside a decrease in VIP spending.
Gaming shares have also weakened globally despite a broader stock market rally.
While high-growth tech stocks propelled the S&P 500 Index to record highs, popular exchange-traded funds focused on gambling fell by more than 3%.
In Hong Kong, MGM China shares dropped 1.6% on May 12, while Wynn Macau declined by 0.7%.
This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content.
AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.
