Galaxy Entertainment Full-Year Net Profit Rises

reported a 3% gain in its net profit for 2014. Galaxy Entertainment's net profit for the year climbed to HK$10.3 billion (US$1.33 billion), versus a year-ago profit of HK$10.1 billion. Its revenue climbed 9% to HK$71.8 billion. Adjusted EBITDA gained 5% to $13.2 billion. Total Mass revenue climbed 12% y/y to $18.8 billion, while VIP revenue rose 8% to $50.4 billion. Electronic gaming revenue surged 3% to $1.8 billion. Dr. Lui Che Woo, Chairman of GEG said, "Marking our ten year anniversary in Macau, GEG achieved solid revenue and EBITDA growth of 9% and 5% respectively, despite facing challenging headwinds in the second half of the year. Our 'World Class, Asian Heart' service philosophy is imbedded in all aspects of our business and governs every interaction with the customer, enabling us to deliver spectacular and unique holiday experiences." Galaxy Entertainment shares climbed 2.79% to close at $44.50 yesterday.