HONG KONG -- Casino operator Galaxy Entertainment Group Ltd., one of Macau's six casino license holders, said Monday its first-half net loss narrowed as increased contributions from its casino operations offset costs associated with the amortization of its casino license.

Galaxy Entertainment reported its net loss for the first six months was HK$267.82 million (US$34.4 million; £á24.8 million), compared with a loss of HK$734.45 million a year earlier.

The Hong Kong-listed company, controlled by the family of Hong Kong businessman Lui Che-woo, said it booked HK$495 million (US$63.6 million; £á45.8 million) in amortization of its casino license in the first-half.

Its first-half earnings before interest expenses, tax depreciation and amortization (EBITDA) were HK$737 million (US$94.6 million; £á68.2 million), up sharply from HK$186 million, boosted by contributions from its StarWorld casino hotel in Macau.

Revenue soared to HK$6.33 billion (US$813 million; £á586 million) from HK$1.31 billion.

StarWorld, opened in October, is located in the downtown area of Macau. It has 240 gambling tables and 500 hotel rooms.

The company said first-half EBITDA of StarWorld was HK$545 million (US$70 million; £á50.4 million) on revenue of HK$3.64 billion (US$467 million; £á337 million).

The casino operator said StarWorld's first-half gambling revenue from the VIP segment amounted to HK$2.63 billion (US$338 million; £á243 million) on HK$92.5 billion (US$11.9 billion; £á8.55 billion) worth of bets placed by high-rollers over the period.

The company didn't propose a first-half dividend.

Galaxy Entertainment operates five casinos in the former Portuguese enclave _ the only place in China where casino gambling is permitted. It is developing a casino resort in Macau's Cotai area, with the first phrase scheduled for completion next year.