Asia

Galaxy net revenue rises by 25 per cent

Published

7 years ago

September 7, 2018

Niji Narayan

Reading Time: < 1 minute

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.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.