Galaxy Entertainment revenue increases as Macau business grows

by Sherry Qin


Galaxy Entertainment’s revenue more than quadrupled in the third quarter, boosted by its Macau gaming business following the lifting of Covid-19 restrictions.

Total net revenue rose to 9.65 billion Hong Kong dollars ($1.23 billion), compared with HK$2.03 billion in the same period last year, it said in a stock exchange filing on Thursday.

The operator of integrated resorts posted adjusted earnings before interest, tax, depreciation and amortization of HK$2.77 billion in the quarter, swinging from a loss of HK$581 million a year earlier.

Third quarter gross gaming revenue came in at HK$8.75 billion, which is significantly higher than the HK$918 million recorded in the same period last year.

Looking ahead, the company remains bullish on its prospects for Macau, a favorite destination for travelers from mainland China.

The company is progressing with the construction of “Phase 4,” a next-generation integrated resort that includes high-end hotels and other non-gaming facilities, said chairman Lui Che Woo. It expects to complete the project in 2027.


Write to Sherry Qin at [email protected]


(END) Dow Jones Newswires

November 8, 2023 20:14 ET (01:14 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

READ MORE  2023 Borders Entertainment Contest — 4barrest

Related Articles

Back to top button