Lady luck lifts Galaxy Ent H1 net profit

Net profit of HongKong-listed casino operator Galaxy Entertainment Group Ltd. (GEG) rose by 81 percent in the first half of the year as lady luck continues to smile upon its over-all gaming operations.

GEG announced before the HongKong bourse on Thursday that the firm posted HKD4.63 billion (US$591.7 million) profit, compared to nearly HKD2.56 billion (US$327.13 million) in the prior-year period.

Its revenue likewise grew 12 percent to HKD28.5 billion (US$3.64 billion) year-on-year while its adjusted EBITDA was up 37 percent to (U$830.6 million).

“During 1H 2017, GEG experienced good luck in its gaming operations which increased Adjusted EBITDA by approximately $20 million,” the casino operator said in its financial report.