|Day's Range||42.05 - 42.85|
|52 Week Range||22.00 - 44.45|
|PE Ratio (TTM)||28.95|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Macau's gaming sector grew for the seventh consecutive month. Gross gaming revenue for February rose 17.8% year-on-year, beating the Street estimate of 10% and January's meager 3.1% growth. Galaxy Entertainment ...
Galaxy Entertainment (27.Hong Kong) soared 3.1% on Wednesday, the second most traded stock in Hong Kong, after the Macau casino operator reported better-than-expected December quarter earnings. Gross gaming revenue grew 12% from the September quarter, above the overall market growth of 10%. As a result, net revenue at Galaxy Entertainment rose 11% quarter-on-quarter, while earnings before interest, taxes, depreciation and amortization gained 10% to 3 billion Hong Kong dollars.
Macau casino operator Galaxy Entertainment Group posted a 28 percent jump in third-quarter net profit, as newer, family-friendly projects helped draw in visitors to the Chinese territory. Galaxy's results on Wednesday portend well for its rivals such as Sands China and Wynn Macau who have also launched projects designed to appeal more to non-gamers in the world's biggest gambling hub after overall growth plummeted in the past two years. Galaxy and the five other listed casino operators in Macau have been hit by sagging demand from high roller Chinese gamblers due to a crackdown on corruption and slowing economic growth in the mainland.