Macau casino resort operator Galaxy Entertainment Group saw its net profits increase 146 per cent to HK$7.4bn ($950m) in 2012.

Galaxy Macau

In its latest results, the company, which operates the Galaxy Macau resort and StarWorld casino, reported a 38 per cent increase in revenue to HK$56.7bn and EBITDA of HK$9.8bn, an increase of 71 per cent on the previous year.

Lui Che-woo, chairman of Galaxy Entertainment, said revenue and earnings had hit “historic highs.”

“Driven by strong performances from Galaxy Macau and StarWorld, GEG’s well-balanced portfolio of complementary properties is now effectively catering to a broad customer base that is focused on tourism, leisure and travel,” he said.

The year was defined by the continued shift in the market to the higher-margin mass segment and solid VIP revenues at both of the company’s properties, he remarked, stating that Galaxy Macau is “starting to fulfil its enormous potential.”

Revenue generated by Galaxy Macau doubled to HK$33b, with EBITDA increasing 152 per cent to $6.5bn. The property is set for further development over the next few years.

“From the middle of 2015 onwards,” continued Che-woo, “we expect that phase two of Galaxy Macau will attract a new influx of customers drawn to its incredible array of leisure and tourism amenities. Further out, we are confident that our revolutionary and captivating plans for phases three and four in Cotai, will not only set a new benchmark for the global leisure and tourism industry, but will prove pivotal in generating substantially higher returns for shareholders for many years to come.”