HONG KONG - Galaxy Entertainment Group's (GEG) third-quarter earnings yesterday beat expectations as its tourist-friendly mega-resort in Cotai drew more mass-market gamblers and non-gambling tourists.
Its shares rose to the highest level in more than a year.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) in the third quarter rose 28 percent to HK$2.7 billion from a year earlier, Macau's second-biggest operator by market value said in a statement. That compared with the HK$2.4 billion median estimate of nine analysts surveyed by Bloomberg.
