Galaxy Entertainment Group hit historic annual highs

As revenue and earnings jumped 38% and 71% respectively.

Galaxy Entertainment Group hits historic annual highs in revenue and earnings. Releasing its financial results for FY12, the group said that its revenue increased by 38% to $56.7 billion, Group Adjusted EBITDA rose by 71% to $9.8 billion and net profit attributable to shareholders grew 146% to $7.4 billion. 

This tremendous growth was driven largely from the first full year contribution from Galaxy Macau™, StarWorld also achieved 10% growth in earnings despite a more challenging VIP gaming environment.

The Construction Materials Division and City Clubs business made solid Adjusted EBITDA contributions of $459 million and $163 million, respectively. Group Adjusted EBITDA in the fourth quarter was $2.5 billion, up 18% year-on-year, and down 3.5% on the preceding quarter.

A key factor in the Group’s improved earnings was the excellent performance of the mass gaming segments at both of its flagship properties.

Given the full year operation, mass revenue at Galaxy Macau™ increased from $2.8 billion in 2011 to $7.3 billion in 2012, with StarWorld achieving growth of 47% to $2.4 billion.