Galaxy Entertainment rises most in more than 4 weeks on Q3 results beat

Sands China

07/11/2024 02:36

** Shares of Macau casino group Galaxy Entertainment Group
Ltd  0027.HK  climb 4.6% to HK$36.20, on course for the biggest
one-day pct rise since Oct 7 - if current gains hold
    ** Stock hit the highest level since Oct 15
    ** Galaxy says its net revenue jumped 11% Y/Y to HK$10.7 bln
($1.38 bln) for Q3 ended in September and adjusted EBITDA rose
6% Y/Y to HK$2.9 bln 
    ** Citi maintains "buy" rating on the stock, saying 3Q24
results beat and Galaxy's balance sheet remains strong 
    ** Shares of rivals rise; SJM  0880.HK  up 2.9%, Wynn Macau
 1128.HK  climbs 1.9%, Melco International  0200.HK  gains 1.8%,
while Sands China  1928.HK  and MGM China  2282.HK  both add 1% 
    ** The Hang Seng Commerce & Industry Index  .HSNC  rises
1.1%, the Hang Seng Composite Index  .HSCI  gains 0.9% and the
Hang Seng Index  .HSI  climbs 1%
    ** Galaxy stock down 17.2% YTD  

($1 = 7.7736 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))