Galaxy Recorded Solid Sequential Margin Thanks to Lower VIP Mix; New Competition is the Main Concern
Galaxy’s second-quarter adjusted EBITDA was up 22% year over year, but up only 4% on a luck-adjusted basis. Sequentially, adjusted EBITDA was down 6.6%; adjusted for luck, it was down 2%. On a sequential basis, the adjusted EBITDA margin improved to 18.7% from 18.2%. The adjusted EBITDA margin in the quarter was the highest since first-quarter 2015, helped by a decrease in the mix of the lower-margin VIP segment, offset by the casino not playing as lucky in the quarter. Gross revenue was up 4% y...Galaxy Entertainment is an investment holding company, engaged in operation in casino games of chance or games of other forms, as well as the provision of hospitality and related services in Macau. In addition, Co. manufactures, sells and distributes construction materials through its Construction Materials Division across Mainland China, Hong Kong and Macau. Co.'s segments include gaming and entertainment, and construction materials.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.