* Galaxy shares up 6 pct, Wynn up 3 pct after Q1 results
* Analysts confident on Macau growth outlook (Adds Galaxy CFO quote, details)
By Farah Master
HONG KONG, April 20 (Reuters) - Shares in Macau casino operators Galaxy Entertainment Group Ltd and Wynn Macau Ltd , a unit of casino magnate Steve Wynn's Wynn Resorts Ltd , jumped on Wednesday after strong earnings results showed unflagging growth in the world's largest gaming market.
Wynn Macau, one of six casino companies legally allowed to operate in the former Portuguese colony, was up 3.3 percent after posting a 47 percent rise for revenue in the first three months of the year. [ID:nN1948962]
Galaxy Entertainment, about 20 percent owned by European private equity firm Permira , traded up 6.3 percent after posting a 71 percent rise in first-quarter EBIDTA.
Revenue streams in the Macau dwarf those of rival Las Vegas, with U.S.-based casino operators earning the bulk of their profits in the glitzy enclave, an hour from Hong Kong by ferry.
Macau's gaming revenue has soared in recent months on unflagging demand from visitors from mainland China, who account for the bulk of arrivals. Macau is the only part of China in which citizens are legally allowed to gamble in casinos.
"It was a great quarter for the group. As we ride that momentum of Q1 into Q2, the April numbers so far look very strong for the market, and of course we will ride that wave into the opening of Galaxy Macau," Galaxy Chief Financial Officer Robert Drake told Reuters over the telephone.
Galaxy, controlled by Hong Kong billionaire Lui Che Woo, is set to open its new $2 billion resort on May 15, the only new casino property expected to open in the former Portuguese colony this year. [ID:nLDE7291R8]
Wynn Macau and Galaxy compete with Sheldon Adelson's Sands China Ltd , tycoon Stanley Ho's SJM Holdings Ltd and MGM Resorts International's MGM Macau.
Analysts remain bullish on the sector, despite casino operators such as Wynn Macau surging about 130 percent in the past 12 months.
"The sector continues to outperform amid the recent strong revenue trend. While Wynn Macau's and the sector's valuations are testing new highs, we believe the trend could persist in the near term amid positive sentiment," said J.P. Morgan gaming analyst Kenneth Fong in Hong Kong. (Editing by Chris Lewis)