Galaxy Entertainment Group Ltd

00027: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	RC	LOCK\|g$VKw	LOCK\|B<HX%t

Galaxy Entertainment Earnings: Results Largely in Line, Market Share Up in October

Jennifer Song

Nov 8, 2024

We maintain Galaxy’s fair value estimate at HKD 52.00 per share, given its in-line third-quarter results and growth momentum in October. Our tweaks to earnings forecasts are minor, and we think the shares are undervalued currently. We expect the firm’s efforts in product enhancement and sales team expansion, the rollout of radio frequency identification, or RFID, gaming tables, along with the continued ramp-up of Galaxy Macau phase 3, to strengthen its long-term competitiveness. This should drive growth in profitability as well as market share gain in the coming quarters.

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Galaxy Entertainment Group Ltd

Galaxy Entertainment Earnings: Results Largely in Line, Market Share Up in October

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