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Galaxy’s 2018 profit rises 29 pct to HK$13.5 billion

Galaxy Entertainment Group’s (GEG) net profit rose by 29 percent year-on-year to HK$13.5 billion last year, the Hong Kong-listed gaming company announced Thursday. 

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UPDATED: 22 Dec 2023, 5:47 am

Galaxy Entertainment Group’s (GEG) net profit rose by 29 percent year-on-year to HK$ 13.5 billion last year, the Hong Kong-listed gaming company announced Thursday.

According to a GEG statement, net revenue rose by14 percent to HK$55.2 billion. Adjusted EBITDA increased by 19 percent to HK$16.9 billion.

The statement quoted GEG Chairman Lui Che Woo as saying that “at GEG, we continue to drive every segment of the business with a particular focus on the mass business and continue to allocate resources to their most efficient use.”

Lui also reconfirmed that GEG purchased a minority equity stake of about 4.9 percent of Wynn Resorts last year.

The octogenarian Hong Kong tycoon also said that his company “will continue to focus on both our Macau development plans and international expansion ambitions.”

UPDATED: 22 Dec 2023, 5:47 am

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