Summary by Futu AI
Galaxy Entertainment Group Co., Ltd. (“Bank Entertainment”) announced on May 14, 2024 the unaudited core business performance for the first quarter ended March 31, 2024. In the first quarter, Silver Bank recorded net income of HK$106 billion, up 50% year-on-year and adjusted EBITDA of HK$28 billion, up 49% year-on-year. For the quarter, Galaxy Macau™'s net revenue was HK$83 billion, up 55% year-on-year, and Star Hotel Macau's net revenue was HK$14 billion, up 46% year-on-year. According to Fitch, Adjusted EBITDA increased accordingly due to higher net profit margins. The bank also paid a special dividend of HK$0.30 per share on 26 April. The company has undergone a series of upgrades, including the introduction of an electronic entertainment table and the...Show More