HONG KONG (dpa-AFX) - Reporting selected unaudited financial data for the first quarter on Wednesday, Hong Kong-based Galaxy Entertainment Group Ltd. (GXYEF.PK, GXYEY.PK) said its adjusted EBITDA for the quarter plunged 93 percent to HK$283 million from HK$3.98 billion last year.
Total group net revenue for the quarter also plunged 61 percent year-on-year to HK$5.07 billion.
The company said it paid the previously announced special dividend of $0.45 per share on April 24, 2020.
The company noted that the outlook for the foreseeable future is difficult to forecast, due to a lack of certainty around immigration, travel and quarantine restrictions associated with the COVID-19 outbreak.
At this point in time, the company still cannot determine the duration of the COVID-19 and therefore are not yet able to quantify the full financial impact. The company added that the COVID-19 crisis is likely to have a material adverse effect on its 2020 financial results and impact its development projects in Macau.
Copyright RTT News/dpa-AFX
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