Galaxy Entertainment reduces player reinvestment as Macau Q4 outlook weakens
Galaxy Entertainment Group reduced mass-market player reinvestment in Macau in Q3, while analyst Vitaly Umansky said the company was seeking to optimise customer rewards. Seaport Research Partners said commissions and incentives fell to 16.7% of GGR from 17.7% in Q2, and expected a more challenging Q4 after Galaxy reported Q3 net revenue of HK$12.7bn and adjusted EBITDA of HK$3.7bn.
Galaxy’s reduced reinvestment and expected tougher Q4 help operators assess customer incentives and competition in Macau.