HONG KONG (dpa-AFX) - Hong Kong-based Galaxy Entertainment Group (GXYEF.PK, GXYEY.PK) reported Thursday that its fiscal 2020 net loss attributable to shareholders was HK$4 billion, down 130 percent year-on-year. .
Group Adjusted EBITDA was negative HK$1 billion, compared to positive HK$16.5 billion last year. Normalized 2020 Adjusted EBITDA was loss of HK$1.0 billion, compared to profit of HK$15.7 billion in 2019.
Total net revenue declined 75 percent to HK$12.9 billion from HK$51.90 billion a year ago.
In the fourth quarter, adjusted EBITDA of HK$1.0 billion declined 75 percent year-on-year, but grew 207 percent sequentially. Net revenue of HK$5.1 billion dropped 61 percent year-on-year, but climbed 229 percent sequentially.
Normalized fourth-quarter adjusted EBITDA decreased 73 percent year-on-year, but increased 214 percent quarter-on-quarter to HK$1.1 billion.
Copyright RTT News/dpa-AFX
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