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Galaxy posts 67 pct rise in 2017 profit

Galaxy Entertainment Group (GEG) said Wednesday that it posted a 67 percent rise in full-year net profit last year.

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UPDATED: 22 Dec 2023, 5:51 am

Galaxy Entertainment Group (GEG) said Wednesday that it posted a 67 percent rise in full-year net profit last year.

According to a GEG statement, net profit attributable to shareholders (NPAS) reached HK$10.5 billion in 2017.
Full-year adjusted NPAS reached HK$11.0 billion, up 61 percent after adjusting for non-recurring charges.
Full-year revenue rose 18 percent to HK$62.5 billion.

Adjusted EBITDA increased 31 percent to HK$11.1 billion last year, when non-gaming revenue rose 6.0 percent to HK$3.0 billion.

The statement also said that GEG continued to move forward with its Cotai Phases 3 & 4, “with a strong focus on non-gaming, primarily targeting MICE, entertainment [and] family facilities.”

According to the statement, “plans [are] moving forward to develop a low-density integrated resort [on Hengqin Island] to complement our high-energy entertainment resorts in Macau.” The statement said further details on the Hengqin project would be disclosed later this year.

The statement also revealed that GEG “is continuously exploring opportunities in overseas markets, including Japan,” apart from “exploring to develop a premium quality eco-friendly beach resort on Boracay Island” in the Philippines”.

The statement underlined that GEG is the only Macau gaming operator to be included in the Nikkei Asia 300 Investable Index.

UPDATED: 22 Dec 2023, 5:51 am

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