银河娱乐(00027) - 2023 - 中期财报

Business Expansion and Development - Galaxy Entertainment Group reported a significant expansion with the opening of the third phase of Galaxy Macau, which includes the Galaxy International Convention Center and the Galaxy Theatre in 2023[19]. - The total area of Galaxy Macau is 1.4 million square meters, featuring six world-class hotels with approximately 4,050 rooms, suites, and villas[19]. - The upcoming "Andaz Macau" hotel is set to open in September 2023, featuring over 700 rooms and suites[23]. - The fourth phase of development will expand the area by 600,000 square meters, including six new high-end hotel brands and a 4,000-seat theater[24]. - The group expanded its non-gaming facilities, including the Galaxy International Convention Center and Galaxy Arena, which began trial operations in April 2023[35]. Financial Performance - The group's net revenue reached HKD 15.7 billion, a year-on-year increase of 141%[26]. - Adjusted EBITDA was HKD 4.4 billion, up 2,193% year-on-year[26]. - Shareholders' profit attributable was HKD 2.9 billion, compared to a loss of HKD 850 million in the first half of 2022[26]. - Non-gaming revenue for "Galaxy Macau™" was HKD 2.026 billion, a year-on-year increase of 104%[26]. - The group reported a total gaming revenue of HKD 13.724 billion in the first half of 2023, up from HKD 4.774 billion in the same period of 2022[29]. Market Strategy and Insights - Galaxy's business strategy focuses on local market insights and a demand-driven approach, leveraging its understanding of Asian and Chinese customer preferences[8]. - The company aims to position itself as a leading operator of integrated gaming, leisure, and entertainment facilities in Asia[8]. - The company continues to monitor market developments closely to expand its operations prudently and in a timely manner[8]. Corporate Social Responsibility - The group has a strong commitment to corporate social responsibility, reflecting its dedication to sustainable business practices[12]. - The company is actively involved in corporate social responsibility initiatives, promoting responsible gaming and community engagement[67]. - Galaxy Entertainment Group Foundation has been actively promoting cultural and artistic education, arranging for 800 local students and teachers to participate in workshops and exhibitions from September 2022 to February 2023[73]. - The company organized a series of community and charity activities in the first half of 2023, including a donation of MOP 300,000 to the Macao Charity Association, marking the 11th consecutive year of support for this initiative[75]. Employment and Workforce Development - The group plans to create 1,100 new local jobs as part of its 2023 recruitment plan, focusing on local employment[58]. - The group has successfully hired all necessary staff for its hotels by the end of Q2 2023, with all hotel rooms available for use[36]. - In the first half of 2023, Galaxy Entertainment Group conducted nearly 900 training courses, providing over 500,000 hours of classroom, online, and on-the-job training, with more than 17,500 team members participating[70]. Environmental Initiatives - The company replaced plastic items such as combs and toothbrushes in its hotels with bamboo products, contributing to environmental sustainability efforts[82]. - The company recycled approximately 425.05 tons of cardboard and paper, 25.65 tons of plastic, 35.60 tons of metal, 23.62 tons of glass bottles, 31.48 tons of waste oil, and 0.32 tons of ink cartridges in the first half of 2023[84]. - The company received the "Macao Green Hotel Award - Gold Award" for its hotel brands, including Banyan Tree Macau, JW Marriott Hotel Macau, and The Ritz-Carlton, Macau, recognizing its commitment to environmental protection[84]. Financial Management and Investments - The group's cash and liquid investments amounted to HKD 24.4 billion as of June 30, 2023[26]. - The group maintained a strong balance sheet with cash and liquid investments of HKD 24.375 billion and net cash of HKD 22 billion as of June 30, 2023[30]. - The investment in Wynn Resorts, valued at HKD 4.305 billion, represents 5.1% of the group's total assets as of June 30, 2023[60]. - The company reported a total of HKD 2,296,148 thousand in revenue from hotel, shopping center, and other operations in 2023, compared to HKD 1,078,501 thousand in 2022[108]. Shareholder Returns - A special dividend of HKD 0.20 per share is expected to be distributed on October 27, 2023[26]. - The group announced a special dividend of HKD 0.20 per share, to be distributed on October 27, 2023[35]. - The company declared a special dividend of HKD 0.20 per share, totaling approximately HKD 870 million, expected to be paid on October 27, 2023[140][141]. Gaming License and Regulatory Compliance - The company has been awarded a new gaming license valid from January 1, 2023, to December 31, 2032, ensuring its operational continuity in the Macau gaming market[18]. - The new gaming license contract signed with the Macau government is valid for ten years, from January 1, 2023, to December 31, 2032, with an annual fixed payment of MOP 30 million (approximately HKD 29.13 million)[97]. - The group confirmed an intangible asset and corresponding financial liabilities of MOP 2.79 billion (approximately HKD 2.71 billion) related to the rights to operate gaming in Macau as of January 1, 2023[98].