Macau casino operator Galaxy Entertainment Group Ltd. reported a profit of HK$4.39 billion ($563 million) in the first half of the year, up 51.8% from a year earlier. The company also announced an interim dividend of HK$0.50 per share due on Oct. 25.
The information is in a filing with the Hong Kong Stock Exchange on Thursday. 안전한 카지노사이트
Galaxy Entertainment reported a net profit of HK$21.47 billion for the six months ended June 30, up 36.6% from a year earlier.
EBITDA before interest, taxation, depreciation and amortization, including the performance weighting of joint ventures and related companies, was HK$6.01 billion in the first half of the year, up 37.2% from a year earlier.
Adjusted EBITDA for the first half of the group’s gaming and entertainment division rose 38.7% year-over-year to HK$5.72 billion.
Galaxy Entertainment’s main gaming operations are the Galaxy Macau (pictured) in Kotai and the Starworld Hotel on the Macau Peninsula.
For the second quarter, the group’s overall adjusted EBITDA increased 11.6% sequentially to nearly HK$3.18 billion. The company posted a net profit of about HK$10.92 billion in the three months to June 30, up 3.5% from the previous quarter.
Lui Che Woo, president of Galaxy Entertainment, said in a release on Thursday: “We have continued to drive every part of our business and further improve our resorts. We are very excited to report that the occupancy of our resort hotels is almost 100% in both the second quarter and the first half of 2024.”
The chairman noted that the group’s balance sheet “remains healthy and fluid,” with total cash and liquidity investments of HK$29 billion (about HK$25.2 billion), net position of HK$25.2 billion and debt of HK$3.8 billion.
“Our strong balance sheet allows us to return capital to shareholders through dividends and fund our long-term development plans and international ambitions,” he added.
Mr Lui also said in prepared remarks that the company has “progressed well into smart table implementation” in real estate.
“Recently, we have completed back-end system integration and customer database relocation. We have also successfully completed the real-time backhouse pilot test of the smart table,” the chairman said.
He added: “In early July, we started rolling out smart tables on the main gaming floor of Galaxy Macao. We expect to complete the full launch by the end of the year.”
Macau authorities have been encouraging the use of smart tables as a way for the city’s industry to more effectively manage casino operations. In this regard, several Macau operators have flagged their plans to use Radio Frequency Identification (RFID) game tables.
Total revenue from gaming operations stood at HK$19.97 billion in the first six months of 2024, up 45.4% year-over-year. Q2 was HK$10.34 billion, up 7.4% quarter-over-quarter.
Galaxy Entertainment’s VIP rolling chip volume (a combination of “in-house premium direct” referring to junket play and house management VIP play) rose 67.2% year-over-year to HK$84.61 billion in the first half.
VIP rolling chip volume rose 20.0% quarter-on-quarter to HK$46.15 billion in April-June.
In the first six months of the year, group overall mass table sales stood at HK$16.02 billion, up 42.8% year-on-year. In the three months to June 30, mass table sales rose 7.2% quarter-on-quarter to HK$8.29 billion.
In the first half of 2024, e-game revenue was nearly HK$1.26 billion, up 61.3% year-over-year. Q2 revenue was HK$658 million, up 9.7% sequentially.