Galaxy Entertainment: VIP-To-Mass Transition Is A Work-In-Progress

News Snapshot:

BING-JHEN HONG/iStock Editorial via Getty Images Elevator Pitch I rate Galaxy Entertainment Group Limited (OTCPK: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. For the current article, I preview Galaxy Entertainment's Q4 2023 financial results and analyze the stock's shareholder capital return prospects. GXYEF is still in the process of pivoting from the VIP segment to the mass segment, so I don't expect the company to report above-expectations EBITDA for Q4 2023. On the flip side, investors are paid to...