Galaxy Entertainment reports 2016 net profit of HK$6.3b, up 51 pc on growth in mass market play and non-gaming business

The company plans an expansion to Japan by cooperating with local players, and expects Macau to record “high single to double digit” growth in gaming revenue in 2017 thanks to an industry recovery.

Galaxy’s net profit compares to analysts expectations of HK$6.04 billion, according to a poll by Reuters.

Adjusted earnings before interest, taxes, depreciation, and amortisation (Ebitda), a key measure in the heavy-asset gaming sector, surged 18 per cent year on year to HK$10.3 billion, also beating analysts expectations of HK$10.01 billion.

In the fourth quarter, Ebitda jumped 20 per cent year on year to HK$3 billion, the best quarterly result in over two years, deputy chairman Francis Lui said.

The company declared a special dividend of 26 Hong Kong cents per share payable on April 28, compared with 15 HK cents a year earlier.