Seaport: Galaxy moderating player reinvestment, says strong Q3 looks to be followed by more challenging Q4

Galaxy Entertainment Group (GEG) has begun reducing its Macau player reinvestment as part of efforts to optimize how it rewards customers, according to an overnight note from Seaport Research Partners. Despite this, the company remains well placed to maintain GGR market share of between 20% and 21% – even as early signs suggest a more difficult December 2026 quarter compared to the strong 3Q26 results reported Friday. According to Seaport senior analyst Vitaly Umansky, GEG’s player reinvestment in mass gaming was down sequentially, with overall commissions and incentives as a percentage of total GGR dropping from 17.7% in 2Q26 to…