Profits at Macau operator Galaxy Entertainment tripled in 2011, driven by the successful launch of its Galaxy Macau casino resort.
For the 12 months to December 31 the company, which recently opened the Galaxy Macau resort complex, achieved profit of HK$3bn.
During the period, Galaxy saw revenue double to HK$41bn and EBITDA increase 158 per cent to HK$5.7bn.
Revenue in first seven and a half months of operation at the Macau Galaxy property stood at HK$16.4bn, with adjusted EBITDA of $2.6bn.
“The highlight of the year was the successful opening of Galaxy Macau,” said Chee-woo Lui, chairman of Galaxy Entertainment.
“Not only has Asia’s newest and most exciting integrated resort been a game changer for Macau, but it has also elevated GEG to a whole new level of profitability and cash generation.
“This bodes well for the group’s prospects this year and beyond as we roll-out our development strategy for Cotai’s largest contiguous casino resort permitted landbank.”
