Summary by Moomoo AI
Galaxy Ent Group Limited ("Galaxy Ent") announced its interim performance for the six months ended June 30, 2024, with net income rising 37% year-on-year to HKD 21.5 billion and adjusted EBITDA also rising 37% year-on-year to HKD 6 billion. Adjusted EBITDA for the second quarter was HKD 3.2 billion, up 28% year-on-year and 12% quarter-on-quarter. Galaxy Ent stated that its resort hotels achieved a nearly 100% occupancy rate in both the quarter and the first half of the year. The group's balance sheet remains healthy, with cash and liquid investments of HKD 29 billion and net assets of HKD 25.2 billion after deducting liabilities. Galaxy Ent announced that it will distribute an interim dividend of HKD 0.50 per share on October 25, 2024. In addition, Galaxy Ent is carrying out its fourth development plan, focusing on non-gambling businesses, which is expected to be completed in 2027.