Galaxy Entertainment Group’s chairman, Lui Che Woo, has taken the unprecedented step of prefacing his company’s half-year accounts with a message on the impact of typhoons Hato and Pakhar on Macau.
Lui said that Hato, “the most powerful and destructive typhoon in over half a century,” hit on August 23 and caused widespread damage. GEG’s properties (Galaxy Macau, StarWorld Macau and Broadway Macau) were damaged but there were only minor injuries, he said.
GEG’s teams were contributing to the relief efforts with “substantial donations of goods and services, including food, water and trucks for debris removal to a number of team members volunteering to help Macau in areas of need from clean-up efforts to delivering food and water to the elderly.”
He announced a MOP60m contribution, half from the GEG Foundation and half from the Lui family, to support relief efforts.
The interim results showed revenue for the first half of 2017 at HK$28.5m ($25.5m) and net profit at $4.6m ($2.5m). The revenue was up 12 per cent and generated adjusted EBITDA was $6.5m, up 37 per cent. The individual properties’ results were: Galaxy Macau EBITDA up 29 per cent, StarWorld Macau up 45 per ent and Broadway Macau down 18 per cent.
