Galaxy Reports Set of Strong Third-Quarter Results; Strong Offerings More Defensive Amid Competition
Galaxy demonstrated good execution in cost control and in the shift toward the higher margin mass segment in the quarter. Adjusted EBITDA was HKD 2.7 billion, up 28% year over year and 18% sequentially, with the casinos playing lucky contributing an additional HKD 240 million. Normalized adjusted EBITDA (after luck adjustment) would have been HKD 2.4 billion, still a solid 9% year-over-year increase and 6.9% sequential increase. Third-quarter revenue was up 5.1% year over year and 6.3% sequentia...Galaxy Entertainment is an investment holding company, engaged in operation in casino games of chance or games of other forms, as well as the provision of hospitality and related services in Macau. In addition, Co. manufactures, sells and distributes construction materials through its Construction Materials Division across Mainland China, Hong Kong and Macau. Co.'s segments include gaming and entertainment, and construction materials.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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