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Galaxy Entertainment News

• Galaxy Says VIP Demand Improving as Profit Rises

  Galaxy Entertainment Group Ltd., the Macau casino operator founded by billionaire Lui Che Woo, posted a 29 percent increase in first-quarter earnings and said it is seeing signs of improved demand from high-stake gamblers.

• SJM Gets Final Land Approval for First Cotai Casino

  SJM Holdings Ltd., Asia’s biggest casino company by revenue, received final government approval to develop its first casino resort in Macau’s Cotai area, the Asian equivalent of the Las Vegas strip.

• Hong Kong Stocks Climb as Li & Fung, Developers Advance

  Hong Kong stocks rose, with the Hang Seng Index rebounding from its biggest two-day drop in a month, led by Li & Fung Ltd. and property developers.

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  Las Vegas Sands Loses Trial Over Macau License Claims

  Billionaire Sheldon Adelson’s Las Vegas Sands Corp. must pay $70 million to a Hong Kong businessman for his help in obtaining a Macau casino license more than a decade ago, a Nevada jury said.

• Galaxy Entertainment Added to Hang Seng Index, Esprit Removed

  Galaxy Entertainment Group Ltd., the Macau casino owner that doubled profit last year, will be added to Hong Kong’s benchmark Hang Seng Index effective June 17, the compiler of the gauge said today.

• Melco Crown Profit Falls 56 Percent on Project Financing Costs

  Melco Crown Entertainment Ltd., the casino venture between a son of casino mogul Stanley Ho and Australian billionaire James Packer, reported a 56 percent drop in first-quarter profit on financing costs related to its new Macau project.

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  Galaxy Buys Casino to Expand in Macau’s Cotai; Shares Climb

  Galaxy Entertainment Group Ltd., the Macau casino owner that doubled profit last year, will buy a casino hotel on the city’s increasingly popular Cotai strip. The company’s stock rose to a record.

• SJM First-Quarter Net Rises 12% on Higher VIP Spending

  SJM Holdings Ltd., Asia’s biggest casino company, posted a 12 percent increase in first-quarter profit as high-stakes gamblers spent more at its 20 casinos in Macau.

• Hong Kong Stocks Rise on U.S. Jobs as Energy Shares Climb

  Hong Kong stocks rose, with the benchmark index headed for its biggest gain in more than a week, after U.S. employment grew more than forecast in April, boosting confidence in the world’s largest economy. Materials and energy companies led gains.

• Sands China Profit Rises 63 Percent on Record Visits

  Sands China Ltd., the Macau casino operator controlled by billionaire Sheldon Adelson, posted a 63 percent jump in first-quarter profit as it drew a record number of visitors and pledged to increase its dividend.

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