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Galaxy Entertainment releases performances indicators5 December 2007HONG KONG -- (PRESS RELEASE) -- The Board of Directors (the "Board") of Galaxy Entertainment Group Limited (the "Company" or "Galaxy", HKEx: 27) is pleased to announce certain selected unaudited key performance indicators of the Company and its subsidiaries (collectively the "Group") for the third quarter and year to date ended 30 September 2007 to enable its shareholders, investors and the public to better appraise the position and business performance of the Group. Highlights as follows: -- Galaxy's EBITDA increases to HK$1,109 million for the year to date (exceeding the whole of 2006 by 150%) -- StarWorld's VIP turnover increases to a record HK$58 billion for the quarter, up 8% on the second quarter, and increases to over HK$150 billion for the year to date -- StarWorld's non-gaming revenues, including StarWorld's acclaimed "5 Star Diamond Hotel", increased to HK$59 million for the quarter, up 9% on the second quarter, and increased to HK$155 million for the year to date -- During the quarter, the mass gaming floor of StarWorld was reconfigured, with Level 3 being redesigned to increase the number of slot machines to over 500. On Level 1, the number of table games increased by 40%, from 85 tables to 122 -- Further, StarWorld continues to perform strongly, achieving record revenues in August and then again in October, with both months exceeding HK$870 million in revenue -- Phase 1 of Galaxy's Cotai Mega Resort is on track for completion by the end of 2008 and opening in 2009 -- As previously announced, in October 2007, Galaxy welcomed Permira as a strategic investor, concluding a series of transactions, which were approved by shareholders on 21 November 2007. Galaxy's capital structure has been significantly strengthened and underpins the development of phases 2, 3 and 4 of Galaxy's Cotai Mega Resort Selected un-audited key performance indicators for the third quarter and year to date ended 30 September 2007 Galaxy's unaudited gross revenues for the third quarter were HK$3,244 million and for the year to date HK$9,576 million. Galaxy's unaudited consolidated earnings before interest, taxation, depreciation and amortization expense ("EBITDA") for the third quarter was HK$372 million and for the year to date HK$1,109 million. These results included the operations of Galaxy's flagship hotel casino, StarWorld, Galaxy's four City Club casinos and its construction materials business. StarWorld Results StarWorld continued to perform strongly during the third quarter, and achieved record revenues in the month of August and went on to achieve further record revenues in the month of October 2007, with both months exceeding HK$870 million in revenue. StarWorld's unaudited revenues for the third quarter were HK$2,096 million and for the year to date HK$5,735 million. StarWorld's unaudited consolidated EBITDA for the third quarter was HK$294 million and for the year to date HK$839 million. |