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China – Macau returning back to normal for Galaxy Entertainment

By - 9 November 2017

Macau operator Galaxy Entertainment said that following the devastating effects of Typhoons Hato and Pakhar, its business was slowly returning back to normal.

It posted third quarter revenue of $15.9bn, up 23 per cent year-on-year and up 10 per cent quarter-on-quarter.

Total mass table games revenue was $6.1bn, up 14 per cent year-on-year. Total VIP revenue was $8.2bn, up 34 per cent year-on-year. Total electronic gaming revenue was $567m, up nine per cent year-on-year.
Galaxy Macau, the primary contributor to Group revenue and earnings. During Q3 2017, revenue was $11.3bn, up 20 per cent year-on-year and up 15 per cent quarter-on-quarter.

VIP rolling chip volume for Q3 2017 was $164.9bn, up 41 per cent year-on-year and up 24 per cent quarter-on-quarter. Mass gaming generated $4.2bn, up 17 per cent year-on-year and up eight per cent quarter-on-quarter. Electronic gaming revenue at the casino came in at $482m, up five per cent year-on-year and up 10 per cent quarter-on-quarter.

Dr. Lui Che Woo, Chairman of Galaxy, said: “Following the devastating impact of Typhoons Hato and Pakhar, we continue to focus on our recovery and repair efforts and working hand in hand with the Macau community to ensure Macau quickly returns to its former self. Our business operations have effectively returned to normal and we continue to believe in the long term potential of Macau. Our confidence in the long term future of Macau remains as strong as ever and is supported by a number of key factors including the low penetration within Mainland China, the continuing growth in the demand for leisure, tourism and travel by Chinese, the ongoing build out of infrastructure in accessing Macau and movement within Macau, and the support of both the Central and Macau Governments.”

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