2024-02-15 08:18:46 ET
Summary
- I don't anticipate that Galaxy Entertainment's actual Q4 2023 EBITDA will beat the market's expectations, as it is still transitioning from the VIP segment to the mass segment.
- But investors are paid to wait out the VIP-to-mass transition process with expectations of growing dividend distributions for Galaxy Entertainment.
- I have a Hold rating for GXYEF stock, taking into account its near-term financial prospects and medium-term shareholder capital return outlook.
Elevator Pitch
I rate Galaxy Entertainment Group Limited ( GXYEF ) [27:HK] as a Hold. My earlier September 9, 2020 write-up analyzed Galaxy Entertainment's recent quarterly financial performance and highlighted the company's plans to enlarge its operations in Macau....
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Galaxy Entertainment: VIP-To-Mass Transition Is A Work-In-Progress