Galaxy net revenue rises by 25 per cent

Galaxy Entertainment Group, the Hong Kong-based business entity that owns Galaxy Macau, StarWorld Macau and Broadway Macau casinos, has posted impressive financial results. In its interim report, the company reports that its net revenue is HK$28.1bn, an increase of 25 per cent on the previous year.

The other measures too are bullish, with an EBITDA of HK$8.5bn, up 34 per cent, a GGR of HK$145.8bn, up 19 per cent, and a net profit of HK$7.2bn, up 56 per cent on that of the previous year.

All the three Macau casinos contributed to the profit. The company is “exploring opportunities in Japan and the Philippines.”

Chairman Lui Che Woo said: “Our balance sheet continued to be exceptionally strong and liquid.”

He also revealed that the group had purchased a minority investment of 4.9 per cent in Wynn Resorts at a cost of US$927.5m.