Galaxy Entertainment reports 25% revenue growth for H1

By Jake Patel

Galaxy Entertainment Group (GEG) reported a 25% year-on-year increase in net revenue to HK$28.1bn (US$3.58bn) for the first half of 2018.

The operator's Galaxy Macau integrated resort made up the majority of revenue, with HK$19.8bn.

StarWorld Macau was the group’s second highest contributor to revenue, making HK$6.3bn, a 28% year-on-year increase.

Broadway Macau contributed HK$273m to the group’s net revenues.

Dr. Lui Che Woo, Chairman of GEG, said: “Our balance sheet continued to be exceptionally strong and liquid.

“We are pleased to announce another special dividend of HK$0.50 per share to be paid on or about 26 October 2018. This dividend demonstrates our confidence in the future, and confirms our commitment to return capital to shareholders.”

The group reported a 34% increase in adjusted EBITDA to HK$8.6bn.

The net profit attributable to shareholders of the company went up 56% and now sits at HK$7.2bn.

GEG completed its minority investment in fellow operator Wynn Resorts, in which the group holds 4.9%, which cost US$927.5m.

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