Galaxy Entertainment rises on higher H1 profit, rivals climb

About this update from Melco International Development Limited

** Shares of Galaxy Entertainment Group HKEX:27 rise 2.4% to HK$40.52, on course to snap two sessions of decline** The operator of hotels and casinos in Macau says its first half net profit rose 19% y/y, adjusted EBITDA jumped 14% y/y and net revenue is up 8% y/y ** Adds, Q2 net revenue rose 10% y/y, adjusted EBITDA up 12% y/y ** Shares of rivals climb, with SJM HKEX:880, Sands China HKEX:1928, Wynn Macau HKEX:1128, Melco HKEX:200 and MGM China HKEX:2282 up between 0.3% and 2.1% ** Hang Seng Commerce & Industry Index HSI:HSCI eases 0.2%, benchmark Hang Seng Index HSI:HSI down 0.1%** YTD, Galaxy shares up 21.8%

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