Galaxy Entertainment 1st-Quarter Revenue Up 5% to HK$14.1 Billion

By Joanne ChiuFeaturesDow Jones Newswires

Macau casino operator Galaxy Entertainment Group Ltd. (0027.HK) posted a 5% revenue gain in the first quarter, driven by nongaming revenue and stringent cost controls.

The Hong Kong-listed company, which operates hotels and casinos in Macau, said Thursday that revenue was 14.1 billion Hong Kong dollars (US$1.81 billion).

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It said gross gaming revenue rose for the third consecutive quarter to HK$61.60 billion in the latest period.

Galaxy Entertainment's adjusted earnings before interest, tax, depreciation and amortization rose 31% to HK$3.2 billion in the first quarter. The company said it remained confident in the longer-term outlook for Macau, citing mainland China's rising middle class, who have money to spend on tourism and leisure activities.

Write to Joanne Chiu at

(END) Dow Jones Newswires

May 04, 2017 00:47 ET (04:47 GMT)