HK Stock Market Move | GALAXY ENT(00027) rose by over 3%, with annual adjusted EBITDA reaching 12.2 billion Hong Kong dollars, a year-on-year increase of 22%.

GALAXY ENT (00027) rose more than 3% again, as of the time of writing, it increased by 3.35% to 32.4 Hong Kong dollars, with a turnover of 2.81 billion Hong Kong dollars. On the news front, at noon on February 27, GALAXY ENT announced its 2024 performance, with a net income of 43.4 billion Hong Kong dollars, a 22% year-on-year increase. Adjusted EBITDA reached 12.2 billion Hong Kong dollars, a 22% year-on-year increase. Shareholders' net profit was 8.8 billion Hong Kong dollars, a 28% year-on-year increase. Earnings per share were 20.03 Hong Kong cents, with a final dividend of 0.50 Hong Kong dollars per share. In 2024, the group's total gaming revenue was 41.1 billion Hong Kong dollars, a 30% year-on-year increase. Among them, mid-tier gaming revenue was 33.1 billion Hong Kong dollars, a 25% year-on-year increase, VIP room gaming revenue was 5.3 billion Hong Kong dollars, a 55% year-on-year increase, and slot machine gaming revenue was 2.7 billion Hong Kong dollars, a 52% year-on-year increase. JP Morgan released a research report stating that GALAXY ENT's fourth quarter performance was stable, with EBITDA increasing by 10% quarter-on-quarter, significantly outperforming the industry's 3% to 4% growth, benefiting from market share expansion. The bank pointed out that the market is currently focusing on its future prospects, including management's comments on its market share since the beginning of the year, or Lunar New Year trends. The bank still sees Silver Entertainment as one of the preferred stocks in the gaming sector, mainly because its valuation is not high and it has the best growth product line in the medium term.