HK-listed Galaxy rises most in over 3-months on Q4 beat

Sands China

24/02/2023 06:39

** Shares of Galaxy Entertainment Group Ltd  0027.HK  lead
gain in Macau shares, rising as much as 6.4% to HK$55.20, and on
track for the biggest daily pct rise since Nov. 11, 2022 if
gains hold
    ** Stock hit the highest since Feb. 10 on the third
consecutive session of rise
    ** Second biggest pct gainer in Hang Seng Index  .HSI  and
Hang Seng Commerce & Industry Index  .HSNC 
    ** Galaxy says 2022 year net loss at HK$3.4 bln ($433.3 mln)
as compared to HK$1.3 bln profit in 2021 with net revenue down
42% year-on-year to HK$11.5 bln
    ** Says Q4 group adjusted EBITDA was HK$200 mln loss,
compared to HK$600 mln loss in Q3
    ** Jefferies maintains "buy" rating, lifts PT to HK$60 from
HK$54, saying Galaxy's narrowing quarterly loss beat estimates,
remaining as one of the brokerage's top picks on seeing upcoming
Galaxy Macau Phase 3 opening to attract visitors
    ** Stock of SJM  0880.HK , Sands China  1928.HK , Wynn Macau
 1128.HK  climbs between 0.2% and 1%
    ** MGM China  2282.HK  and Melco International  0200.HK 
both slip 0.3%
    ** Hang Seng Commerce & Industry Index  .HSNC  drops 1.9%, 
and the Hang Seng Index  .HSI  falls 1.5%
    ($1 = 7.8473 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))