Lyon: GALAXY ENT (00027) third quarter adjusted EBITDA beats expectations, maintains "outperform" rating.

Lyon released a research report stating that GALAXY ENT (00027) adjusted EBITDA increased by 14% year-on-year to 3.3 billion yuan in the third quarter, exceeding expectations by 4%. The bank believes that Galaxy Entertainment still has an advantage in gaining market share in terms of revenue, with net cash reaching 4.5 billion US dollars in the third quarter, further strengthening its financial position. The bank still believes that the company may increase its dividend payout ratio in the next 12 months, maintaining an "outperform the market" rating and a target price of 50.5 Hong Kong dollars, continuing to be one of the top two preferred stocks in Macau.