By Joanne Chiu
Macau casino operator Galaxy Entertainment Group Ltd. (0027.HK) reported a 51% rise in 2016 net profit in the wake of non-gaming revenue and stringent cost control.
The Hong Kong-listed company, which operates hotels and casinos in Macau, said after markets closed Tuesday that its net profit for the year ended December rose to 6.28 billion Hong Kong dollars (US$808.9 million) from HK$4.16 billion, and revenue rose 4% to HK$52.83 billion.
The company didn't declare any final dividend for 2016, the same as a year earlier.
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