Galaxy Entertainment Group reports 61% year-on-year decline in net revenue

Galaxy Entertainment Group (GEG) has reported net revenue of HK$5.1bn (US$657.7m) for Q4 2020, a 61% year-on-year decline.

The total was, however, a 229% increase from Q3 2020. Full year 2020 net revenue stood at HK12.9bn, a 75% year-on-year decline.

Galaxy Macau, the operator’s primary contributor to group revenue and earnings, reported Q4 net revenue of HK$3.3bn, and net revenue of $7.8bn for full year 2020. The totals were year-on-year declines of 64% and 79% respectively.

StarWorld Macau meanwhile posted Q4 net revenue of HK$1bn, a 64% decline from the prior-year period, and full year 2020 net revenue of HK$2.2bn, an 80% decline from the prior-year period.

And Broadway Macau posted net revenue of HK$16m for Q4 2020, and $94m for full year 2020. The former is a 90% year-on-year drop, while the latter represents an 84% year-on-year drop.

“We again applaud the Macau Government…