BUSINESS

Galaxy Entertainment Group report record breaking financial results

TAGs: China, financial results, Galaxy Entertainment Group, Galaxy Macau, Macau

Galaxy Entertainment GroupGalaxy Entertainment Group has reported Record Breaking Financial Results for year ending 31 December 2011.

The Macau-based company announced today its best ever Full Year Group Adjusted EBITDA of HK$5.7 billion, up 158% on 2010 and 13th Consecutive Quarter of Adjusted EBITDA Growth of HK$2.1 billion in Q4.

Here’s a breakdown of the results:

  • Record full year Group revenue doubled to HK$41 billion
  • Record full year Group Adjusted EBITDA of HK$5.7 billion, up 158% year-on-year
  • Record fourth quarter Group Adjusted EBITDA of HK$2.1 billion (2010: HK$625 million), and the 13th consecutive quarter of Adjusted EBITDA growth
  • Record net profit attributable to shareholders in the year tripled to HK$3 billion
  • Achieved global recognition and won Casino Operator of the Year Australia/Asia at the International Gaming Awards

Chairman of GEG, Dr. Che-woo Lui, said: “Our exceptional fourth quarter results completed another record year for Galaxy Entertainment Group, reflecting exemplary management, underpinned by our successful ‘World Class, Asian Heart’ philosophy.”

Lui expressed how he was particularly pleased to receive global recognition from the International Gaming Awards, with Galaxy Macau being awarded The World’s Best Casino Integrated Resort in 2011.

“We are extremely pleased that Galaxy Macau generated revenue of HK$16 billion and Adjusted EBITDA of HK$2.6 billion in just seven and a half months.

“We have every confidence that the Group is uniquely well positioned to take advantage of Macau’s enormous growth potential and play a leading role in helping Macau achieve its goal of becoming one of the leading tourism destinations in Asia, and indeed, the world,” he added.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com