Galaxy Entertainment (00027) rose more than 3% following its earnings release. As of the latest update, the stock was up 3.03% to HK$33.32, with a turnover of HK$499 million.

On May 12, Galaxy Entertainment announced its financial results for the first quarter of 2026. The group reported net revenue of HK$12.4 billion, representing an 11% year-on-year increase but a 10% sequential decline. Adjusted EBITDA reached HK$3.6 billion, up 8% year-on-year but down 17% quarter-on-quarter. The quarterly performance fluctuations were influenced by luck factors. In the fourth quarter of 2025, the group's adjusted EBITDA was HK$4.3 billion, which included an approximate HK$730 million benefit from a higher net win rate; however, in the first quarter, a lower net win rate reduced adjusted EBITDA by about HK$2 million. Excluding the impact of win rates, adjusted EBITDA remained flat compared with the previous quarter.

Goldman Sachs issued a research note stating that Galaxy Entertainment's first-quarter 2026 results were in line with expectations. The report noted that the company's gaming revenue market share in Q1 2026 was 20.2%. Benefiting from multiple concerts and events during the period, performance in April and during the Labor Day holiday was healthy, with market share rebounding to approximately 21%. Management anticipates that the upcoming World Cup will have a milder impact on the VIP segment compared to 2018, due to changes in player structure and reduced reliance on high-end customers. Additionally, the company plans to arrange more events and promotions to offset short-term effects.