The Zhitong Finance App learned that Lu Yaodong, vice chairman of Galaxy Entertainment (00027), said that he is satisfied with the May Day holiday business performance. Despite the unstable weather, Macau still recorded an average of about 120,000 daily arrivals, an average daily gaming revenue of over 900 million patacas. The occupancy rate of its hotels was about 90%. As for housing price performance, it remained stable.

Construction of the fourth phase of Galaxy Entertainment's Cotai project has already started. The goal is to be completed in 2027. When asked if there are any financing needs, Lui Yiu-tung pointed out that the Group's prudent financial management has now reached HK$26.4 billion, and he believes there is sufficient capital for development.

Also, recently Xia Baolong, director of the Central Hong Kong and Macao Affairs Office and head of the Hong Kong and Macao Affairs Office of the State Council, visited Macau. Lui Yiu-tung welcomed Xia Baolong to Macau for a longer period of research. He hoped that he would better understand Macau's social and people's livelihood situation, and that the central government would provide better policies to support the future development of the Macao economy.

The mainland has opened up 8 more cities for free travel to Hong Kong and Macau. Lui Yiu-tung pointed out that the good news shows that the country has always supported the diversified development of Macau, and also believes that it will be of great help to the future development of tourism in Macau and Hong Kong. It will definitely improve in the short, medium and long term.

According to reports, on May 14, Galaxy Entertainment announced that in the first quarter of 2024, the Group achieved net revenue of HK$10.6 billion, up 50% year-on-year and 2% quarterly. The Group's adjusted EBITDA was HK$2.8 billion, up 49% year-on-year and 1% quarterly. Adjusted EBITDA for the past 12 months was HK$10.9 billion, up 1297% year-on-year and 9% quarterly.