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GALAXY ENTERTAINMENT GROUP LIMITED

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Galaxy Entertainment : GEG Hosts Local SME Online Business Matching Session Exploring Partnership Opportunities

10/20/2021 | 08:51am EST

Galaxy Entertainment Group ('GEG') is committed to the development of local SMEs and the moderate diversification of Macau's economy by implementing and supporting different initiatives. Earlier, GEG collaborated with the Macao Chamber of Commerce, the Macau Youth Entrepreneur Association and the Macau Young Entrepreneur Incubation Centre on hosting the GEG SME Series: Local SME Online Business Matching Session. During the online business matching session, representatives from GEG's Procurement Department met and communicated with related local SMEs to understand each other's business and explore future partnership opportunities in different fields, including the sourcing of sustainable products and services.

To cooperate with Macau's latest pandemic preventive measures, GEG hosted the business matchings online and encouraged local SMEs to make use of its flexible and convenient online platform to explore business opportunities under a safe environment. The event attracted more than 60 SME representatives to participate. GEG arranged one-on-one sessions for the representatives from its Procurement Department to meet with the local SMEs, which not only enabled the participants to introduce their products or services to GEG's representatives, but to also gain an in-depth understanding of GEG's procurement requirements, policies and procedures, as well as to explore business cooperation opportunities in different fields including sustainability.

GEG has always considered local SMEs as its key partners and prioritizes them in business cooperation. Over the years, GEG remained steadfast in supporting and nurturing the development of local SMEs, 'Made in Macau' brands, and young entrepreneurs. In addition to being the first gaming operator to launch a SME partnering program back in 2015 when GEG had invited local SMEs in the sectors of F&B and retail to open outlets in the Broadway Food Street, GEG provided its SME partners with technical support and helped them strengthen and promote their brands. Currently, over 90% of GEG's total expenditure on goods and services come from Macau enterprises and SMEs.

Committed to its philosophy of 'what is taken from the community is to be used for the good of the community', GEG aims to help local SMEs to enhance their competitiveness through different initiatives, including organizing different technical trainings, business matchings, and exchange activities regularly for local SMEs. In the past, GEG hosted the GEG SME Series: M-Mark Enterprise Sharing & SME Business Matching Session and invited a representative from the Macau Productivity and Technology Transfer Centre, as well as the representatives from its vendors who previously acquired the M-Mark certification, to introduce and share the benefits of such certification. GEG also provided full sponsorships to its eligible suppliers on attending the Food Traceability Training and the CIEH Intermediate Certificate in Food Safety (Level 3) training course. In the future, GEG will continue to work closely with local SMEs and assist in elevating their competitiveness and promote mutual development.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 21 185 M 2 718 M 2 718 M
Net income 2021 640 M 82,1 M 82,1 M
Net cash 2021 24 598 M 3 155 M 3 155 M
P/E ratio 2021 283x
Yield 2021 -
Capitalization 186 B 23 816 M 23 819 M
EV / Sales 2021 7,60x
EV / Sales 2022 3,99x
Nbr of Employees 18 000
Free-Float 49,3%
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 42,65 HKD
Average target price 55,08 HKD
Spread / Average Target 29,1%
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Managers and Directors
Robert Charles Drake Group Chief Financial Officer
Che Woo Lui Chairman
James Houghton Director-Information Systems & Technology
Wai Ling Lui Group Director-Human Resources & Administration
James Ross Ancell Independent Non-Executive Director
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