Chairman Lui Che Woo said the concessionaire’s “balance sheet continues to be exceptionally liquid and healthy.”
Lui Che-Woo
Chairman Lui Che Woo says ‘solid pent-up customer demand following the relaxation of travel restrictions’ has paid off for the gaming operator.
Market turbulence means at least half the world’s billionaires are poorer this year than last, but at least two gaming figures have seen their wealth rise.
Chairman Lui Che Woo points to solid balance sheet of HK$24.5 billion in cash, looks forward to Macao’s future recovery.
Casino boss praises developments in Hengqin and applauds near 100% vaccination rate among staff.
GEG’S flagship Galaxy Macau in Cotai earnings rose to adjusted first-quarter EBITDA of HK$764 million.
One-off insurance payment and gradual return of visitors boost the group’s performance, however Raffles on Cotai may not open until 2022.
Bosses applaud the end of China quarantine, vaccine roll-out and balance sheet uptick, and look forward to even better results in March and May Golden Week.
Galaxy Entertainment Group (GEG) said in a statement to the Hong Kong Stock Exchange on Wednesday that its net revenue fell 61% both year-on-year and quarter-on-quarter to HK$5.1 billion in the first quarter.
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