Galaxy Entertainment Q4 EBITDA misses forecasts; declares dividend

Galaxy Entertainment Q4 adjusted earnings before interest, tax, depreciation and amortisation rose 41 percent from the same period a year ago to $3.5 billion, but missed the consensus estimate for $3.6 billion. As analysts had expected, the company chose to announce a special dividend of $0.70 a share, to be paid around July 31.  Net income for the full year rose 36 percent to HK$10.1 billion in 2013, with revenue up 16 percent to HK$66 billion. The group’s total gaming revenue on a management basis grew 16 percent year-on-year to $65.4 billion in 2013 as total mass revenue increased 42 percent year-on-year to $16.8 billion and total VIP revenue grew 9 percent year-on-year to $46.8 billion.