By Yifan Wang
Galaxy Entertainment Group Ltd.'s (0027.HK) third-quarter earnings rose 6.0% as revenue declined slightly, it said Thursday.
Adjusted earnings before interest, tax, depreciation and amortization were 4.11 billion Hong Kong dollars (US$525.1 million) compared with HK$3.88 billion over the same period last year, the hotel-and-casino operator said.
Revenue fell 2.2% on year to HK$12.71 billion, it said. The VIP business dragged on its performance as the segment's gross gaming revenue fell 26% on year, Galaxy said.
"In the shorter term, current international trade tensions and the slowing global economy may impact customer sentiment and subsequent spending habits," it said.
Galaxy said it remains confident in the longer term outlook for Macau due to growing demand throughout Asia in leisure, tourism and travel.
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