Wong Chui Lai steps down as Galaxy Entertainment company secretary
Jenifer Sin Li Mei Wah has taken over as company secretary and authorised representative.
Macau.- Galaxy Entertainment Group Ltd has reported that its company secretary Wong Chui Lai has stepped down due to a “personal reason”. According to the company’s filing, she had no disagreement with the board. Wong has been replaced by Jenifer Sin Li Mei Wah, who was previously company secretary from November 1 2010 to December 30 2020.
The casino operator stated: “The board would like to express its gratitude to Ms Wong for her service and valuable contribution to the group during her tenure of office and also welcome Mrs Sin on her appointment.”
Galaxy Entertainment Group has recently reported that revenue for Q2 was down 41 per cent quarter-on-quarter from HK$4.1bn to HK$2.4bn (US$540m). The figure was down 56 per cent when compared to the second quarter of 2021.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter were negative HK$384m. In Q2 2021, EBITDA was positive at HK$1.13bn and in the first quarter, EBITDA came in at HK$575m (US$73.3m).
The casino operator reported net revenue of HK$6.52bn for the first half of the year. That figure was down 38.8 per cent year-on-year. Net gaming revenue fell by 47.3 per cent year-on-year to HK$4.13bn. The company posted a net loss of HK$850.5m for the period.
Company chairman Lui Che Woo said the company is well positioned to compete for one of Macau’s gaming concessions and stated they look forward to the completion of the concession bidding process by year-end.
