Gal­axy En­ter­tain­ment’s earn­ings plunge46%

China Daily (Canada) - - BUSINESS -

Ma­cao casino op­er­a­tor Gal­axy En­ter­tain­ment Group Ltd has re­ported a 46 per­cent plunge in sec­ond-quar­ter earn­ings as op­er­a­tional costs from its new­casino re­sorts surged and rev­enue slumped in the city. Ad­justed earn­ings be­fore in­ter­est, taxes, de­pre­ci­a­tion and amor­ti­za­tion dropped to HK$1.9 bil­lion ($245 mil­lion) from a year ear­lier. That com­pares with the HK$1.8 bil­lion me­dian es­ti­mate of five an­a­lysts com­piled by Bloomberg.

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