Pursuits

Galaxy Leads Casino Operators Higher After Macau Revenue Surge

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By Frank Longid

December 2, 2010 at 3:27 AM UTC

This article is for subscribers only.

Galaxy Entertainment Group Ltd., part-owned by Permira Advisers LLP, led Hong Kong-listed casino stocks higher after Macau’s government said casino revenue in the city rose 42 percent last month.

Galaxy gained as much as 4.8 percent to HK$8.50, the highest intraday level in two years, before trading at HK$8.45 as of 11:17 a.m. in Hong Kong. Melco International Development Ltd., which has a venture with Australian billionaire James Packer’s Crown Ltd., climbed as much as 4.2 percent.