Galaxy profit surges 52pc

Galaxy Entertainment (0027) saw its first-half net profit surge 52 percent from a year ago to HK$4.39 billion, with an interim dividend of HK$0.5 per share declared.

Net revenue rose 37 percent year-on-year to HK$21.5 billion, and adjusted earnings before interest, taxes, depreciation, and amortization increased 37 percent from last year to HK$6 billion.

Galaxy Macau remained the primary contributor to the group's revenue and earnings, with a first-half net revenue of HK$17 billion, up 43 percent from the previous year. Capella at Galaxy Macau is currently being fitted out and is set to offer around 100 ultra-luxury sky villas and suites, with the aim of opening in mid-2025.

StarWorld Macau also reported a 25 percent increase in net revenue, reaching HK$2.7 billion.

Chairman Lui Che-woo said the company's resort hotels recorded nearly 100 percent occupancy in both the second quarter and the first half of this year.

Meanwhile, the casino operator has committed non-gaming investment of over $33 billion patacas (HK$32 billion) to further diversify Macau's tourism attractions.

Its shares closed up 1.03 percent yesterday.

MELODY CHEN