BUZZ-Galaxy Entertainment touches 3-week high as profit grows

Reuters02-27
BUZZ-Galaxy Entertainment touches 3-week high as profit grows

** Shares of Galaxy Entertainment Group Ltd 0027.HK climb 3.1% to HK$31.60, their highest since February 4, and on course for the second session of gains

** Co says its 2024 net revenue up 22% y/y to HK$43.4 bln ($5.58 bln) and adjusted EBITDA up 22% y/y at HK$12.2 bln

** Says Q4 net revenue up 9% y/y at HK$11.3 bln, adjusted EBITDA up 15% y/y at HK$3.2 bln

** Macau gaming stocks also rise with Melco 0200.HK, Sands China 1928.HK, Wynn Macau 1128.HK, MGM China 2282.HK up 0.7% to 1.7% while SJM 0880.HK remains flat

** Hang Seng Commerce & Industry Index .HSNC eases 0.9% and Hang Seng Index .HSI slips 0.5%

** Stock of Galaxy Entertainment up 4.6% YTD

($1 = 7.7740 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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