First-half financial results showed a net profit of approximately $121.7 million, an improvement of approximately 133% year-over-year.
The positive news for Hong Kong-listed companies came in at about $146.5 million in the second half of the year after posting a deficit of more than $367.5 million in the same six months last year due to the impact of the coronavirus pandemic.
Galaxy Entertainment Group Limited is responsible for the impressive real estate of Starworld Macao, Broadway Macao, and Galaxy Macao, with net profit reportedly rising more than 71% year-on-year to about $1.3 billion in the six months to the end of June. The company also saw adjusted earnings in the first half of the year before interest, tax, depreciation and amortization slightly above 280%, slightly below $257 million, the source said.
Q2 2021 is an official document declaring ‘four consecutive quarters of total gaming revenue growth’ in Macau. However, he reportedly declared that the phenomenon had occurred even though his former Portuguese residence had experienced a “rare outbreak” of the coronavirus, which was suspended earlier this month after four local “Delta variant” cases emerged.
Total gaming revenue for the first half of the year rose 65.8% year-over-year to nearly $1.2 billion as revenue from ancillary activities such as hotel and retail sales rose 104.6%, reaching $178.6 million. The company said its debt reportedly reached $1.4 billion at the end of the six-month period and included $64.2 million in core debt, with the rest tied to the Treasury yield improvement program.
Galaxy Macao’s revenue for the first half of the year, with 3,458 rooms, rose about 300% to about $217.1 million before interest, tax, depreciation and amortization, while gaming revenue rose 82.6% to $764.5 million. Nearby and Starworld Macau venues reported an 81.9% increase in gaming business to about $239.2 million in revenue.
The company had decided not to issue first-half dividends to investors “in light of the ongoing impact of the coronavirus.”