Published
Land-BasedCasinoFinancial

Galaxy Entertainment profits soar 81% in H1

Casi

Galaxy
no operator Galaxy Entertainment Group Ltd has reported a 81% year-on-year hike in its net profits for the first half of the year.

Macau-based junket’s profits grew to HKD4.63bn (US$591.7m), compared to nearly HKD2.56bn generated in the prior-year period.

In a corporate filing to the Hong Kong Stock Exchange, Galaxy posted a 9% increase in total gaming revenue, rising to HKD26.4bn in H1 2017.

Breaking the figures down, total mass table games revenue was HKD11.4bn, up 15% year-on-year, whilst total VIP revenue was HKD13.9bn, up 5% year-on-year. Additionally, total electronic gaming revenue was HKD1.1bn, up 12% year-on-year.

Although the company did not comment the reason behind these results, analysts from Union Gaming highlighted Galaxy’s VIP performance and praised the ‘sweet spot’ that the mass market is currently on.

“The levels of mass foot traffic at Galaxy Macau have been exceptional, driven in part by the company’s ongoing efforts to rethink the property from both a gaming and non-gaming perspective (especially F&B),” said Union Gaming.

The firm’s flagship Galaxy Macau increased its VIP rolling chip volume by 8%, totalling nearly HKD10m in VIP revenue; while StarWorld Macau’s VIP rolling chip volume for first half of 2017 increased 19%, totalling HKD3.8bn in VIP revenue.




Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...