Chinese gamblers buoy Permira-backed Galaxy Entertainment
Permira-backed Macau casino group Galaxy Entertainment reported an 84% year-on-year in underlying profit in the first half of 2011, attributed to strong spending by mainland Chinese gamblers. The company reported EBITDA of HK$1.8 billion ($230.9 million), up from HK$990 million a year earlier.
The financial performance exceeded market expectations, prompting Galaxy's share prices to rise more than 5% to HK$20.2. This came despite the company also announcing a 20.4% drop net profit to HK$378.3...
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