Galaxy Entertainment’s net profit rose in the first half of the year, according to multiple media reports, with the increase attributed to the strong performance of the Galaxy Macau resort.
Net profit rose 52 percent compared to the same period a year ago to HK$4.39 billion (US$563.3 million), the casino operator said, noting that “Galaxy Macau is the primary contributor to the Group’s revenue and earnings.”
The SAR’s tourism rebound was also a factor, with Galaxy highlighting a 44 percent upswing in visitor arrivals in the first half of 2024 to 16.7 million.
[See more: Macao’s full-year gross gaming revenue could reach nearly US$30 billion]
Overall revenue increased 37 percent to HK$21.47 billion (US$2.75 billion), while first-half revenue at the Galaxy Macau resort was HK$16.96 billion (US$2.17 billion), up 42.5 percent compared with a year earlier.
The company also announced an interim dividend of HK$0.50 (US$0.06) per share.
“These dividends demonstrate our confidence in the positive long-term outlook for Macao and for the company,” Galaxy Entertainment added.
