• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Galaxy Entertainment Group reports record results in 2Q and 1H 2011

Newsdesk by Newsdesk
Wed 31 Aug 2011 at 06:44
1
SHARES
24
VIEWS
Print Friendly, PDF & Email

Macau casino operator Galaxy Entertainment Group today reported record half-year EBITDA (earnings before interest, taxation, depreciation and amortisation) of HK$1.8 billion (US$230.8 million)—up 84% year-on-year

In the unaudited results, announced in Hong Kong, the company said it was the 11th consecutive quarter of group EBITDA growth, and the 12th consecutive quarter EBITDA growth for its Macau peninsula property StarWorld Hotel & Casino. Galaxy Macau™, the company’s new resort on Cotai, launched on 15th May, achieved EBITDA of HK$376 million in its first 47 days of operation up to and including 30th June.

Adjusted net profit attributable to shareholders more than doubled from HK$0.6 billion to HK$1.3 billion for the six months ended 30 June 2011 after adjusting for an one-off HK$0.8 billion pre-opening expenses of Galaxy Macau, and also HK$0.2 billion non-recurring non-cash charges relating to convertible notes, and HK$0.1 billion net loss on buyback of guaranteed notes

StarWorld’s performance at-a-glance included:

*half year EBITDA of HK$1.3 billion, up 53% year-on-year

*half year total revenue of HK$10 billion

*12th consecutive quarter of EBITDA growth with 2Q 2011 EBITDA of HK$685 million

*2Q 2011 VIP rolling chip volume of HK$158 billion

*continuously improving ROI (based on the total EBITDA for the latest twelve months divided by the total investment, including land cost) of 74% in Q2 2011

Galaxy Macau’s performance at-a-glance included:

*on-time opening on a 7% increase in budget to HK$16.5 billion (US$2.12 billion) due primarily

to increased construction labour costs. The company said the resort’s full complement of 2,200 rooms is due to open in 4Q 2011

*the entertainment offering including the 3D-Cineplex is included within the project budget and will open in Q4 2011

*EBITDA of HK$376 million for the first 47 days of operation

GEG balance sheet

*liquid with total cash on hand of HK$6.7 billion as of 30th June, 2011 (including restricted cash of HK$1.6 billion)

Dr Che-woo Lui, Chairman of GEG said: “The first half 2011 has produced very strong results. I am delighted with the opening of Galaxy Macau and the exceptional results of

StarWorld. Across each of our divisions we have seen healthy growth and a positive contribution to the Group.

“The opening of Galaxy Macau enhanced StarWorld’s position and StarWorld posted a series of all-time records. StarWorld delivered one of the highest returns of any major casino in the world.

The growth of the company shows no signs of slowing and with the largest contiguous land bank in Cotai, GEG is well positioned to capitalise on the growth of Macau.”

RelatedPosts

The Japan IR Industry: A Golden Opportunity Squandered

The Japan IR Industry: A Golden Opportunity Squandered

Sat 8 Jan 2022 at 01:03
International Ladies Club of Macau to host springtime charity party this weekend

International Ladies Club of Macau to host springtime charity party this weekend

Wed 14 Apr 2021 at 04:48
Castle in the Sky

OPINION: Is Osaka’s RFP extension really about fairness?

Thu 1 Apr 2021 at 06:48
France honors Galaxy boss Francis Lui for contribution to promotion of French arts and culture

France honors Galaxy boss Francis Lui for contribution to promotion of French arts and culture

Thu 11 Mar 2021 at 05:16
Load More
Tags: Dr Chewoo LuiGalaxyrecordresults
ShareShare
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English