Galaxy Entertainment Group

    Website: https://www.galaxyentertainment.com/en

    Email: ir@galaxyentertainment.com

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened in 2006, and opened the first phase of its Galaxy Macau integrated resort on Cotai in May 2011. The company opened the expansion to the resort, Galaxy Macau Phase 2 and the Broadway Macau in 2015, marking the first new resorts to open in the territory since 2012. It has plans for Phases 3 and 4 of the property for a total investment of HK$100 billion ($12.8 billion). Site works are expected to start in 2016.In addition, the Group has also entered into a framework agreement with the Hengqin authority to develop a 2.7 square kilometer land parcel for a world class destination resort in Hengqin Island.

    People

    Francis Lui

    Mr. Francis Lui Yiu Tung, aged 61, joined the Group in 1979.He has been an executive Director of the Company since June 1987 and is the Deputy Chairman and a member of each of the Executive Board, Nomination Committee and Remuneration Committee as well as the Chairman of Corporate Governance Committee of the Company.Mr. Lui is also an executive director of K. Wah International Holdings Limited. He holds a bachelor of science degree in civil engineering and a master of science degree in structural engineering from the University of California at Berkeley, USA.Mr. Lui is a member of the National Committee of the Chinese People’s Political Consultative Conference, a member of the Election Committee of the HKSAR and a member of the Chief Executive Election Committee of Macau SAR. He is also a director of the 68th Term of Macao Chamber of Commerce and an Honorary Chairman of the 18th Term of Kiang Wu Hospital Charitable Association. Mr. Lui was awarded the Medal of Merit – Tourism by Macau SAR in 2012 and Asia Pacific Entrepreneurship Awards 2014 – Entrepreneur of the Year by Enterprise Asia in 2014. Mr. Lui is a son of Dr. Lui Che Woo and a younger brother of Ms. Paddy Tang Lui Wai Yu.

    Ragheb Dajani

    Head of planning, Japan, for Galaxy Entertainment

    Roger Lienhard

    Senior vice president for hospitality at Galaxy Macau

    Related Articles

    Wynn and Melco top picks for 2018: Bernstein

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy counts on Monaco glamor in IR bid

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Catholic priests vow to oppose Boracay casino

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy applies for Philippines gaming license

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy Q3 EBITDA in-line, revenue grows 23 pct

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy becomes first operator to accept WeChat payments

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau operators to introduce eco friendly bus services

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Golden Week GGR mix disappoints; shares drop

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy workers protest over bonus, dealer policy

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy’s half-year profit jumps 81 percent

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy eyes Philippines gaming market

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Tangam Systems expands with Galaxy deployment

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Govt looks to amend terms for concession renewal

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Wynn, Galaxy to outperform in 17Q2: MS

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau May revenue surges past expectations

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Ho more interested in Osaka, over Tokyo

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Asia Gaming Awards 2017 winners announced

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy’s Lui says Macau needs lower taxes, more cooperation

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau 17Q2 GGR to decelerate as VIP slows

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy partners with architectural firm for Japan IR

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    G2E Asia to provide overview of Asian gaming landscape

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy to cooperate with Societe des Bains de Mer in Japan

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy Macau boosts up 17Q1 total revenue

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Property EBITDA to grow 20 percent in 17Q1

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy ties up with Monaco associate in Japan license bid

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy confident of Japan license

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    March GGR growth seen moderating

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy brings forward staff pay rise from July to April

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    EBITDA targets achievable for 2017, Deutsche Bank says

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy profit boosts 51 percent in 2016

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Forex controls hit Macau casino stocks

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau 2017 estimates raised at Morgan Stanley

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Former Galaxy dealer files petition to DSAL

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy net profit up 28 percent in Q3

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau casino stocks dip following Crown staff arrests

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    IKGH didn’t close their VIP rooms, we did: Galaxy

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy reports solid 16H1 profit, in-line with estimates

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    HK-Zhuhai-Macau bridge will transform gaming industry: Lui

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Gaming slump will not affect Galaxy Phase 3 and 4: Lui

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau tightens AML rules

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau to tighten visa rules for casino executive positions

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Flexibility in table caps needed: Angela Leong

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy Entertainment posts first quarterly profit gain

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy Entertainment to venture into theme parks

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy Entertainment profit down 60.2 percent in 2015

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Casino stocks tumble as China macro woes add to pain

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy chairman expects higher growth in Feb

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    GEG to offer engineering graduate training

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy leads in October VIP market share

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    LVS awarded FAB trademark by Court of Appeal

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau 15Q3 gov’t data shows flat sequential mass GGR

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy revenue down 29 percent in 15Q3

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy chairman says Macau’s gaming market has “stabilized”

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau average daily revenue higher in September than August

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Kevin Kelley appointed as Galaxy COO

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy warns of fraudulent salespeople

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy hit by bad luck as 15H1 revenue falls 34 percent

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Melco Crown won’t show margin sustainability in 15Q2: Sterne Agee

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy to benefit from luxury markets in SBM deal

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy invests in Monaco hotel and casino operator

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau GGR close to MOP11 billion from July 1 to 19: analysts

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Casino stocks rise in Hong Kong amid smoking bill hopes

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy launches premium mass services

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau’s 15Q2 EBITDA to drop amid higher operating costs

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Casino oversupply concern is underappreciated says MS analysts

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Messages from Macau, Beijing mixed

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Gaming stocks rise following changes to visas

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy chairman says Phase II weak though early days

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    June GGR sees little benefit from Galaxy opening, analysts say

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Melco Crown stock leads decline in HK trading

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy completes first major four-month management development program

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy allocation in line with expectations: UBS

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau government grants 150 tables to new resort

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Investors not cautious enough on Macau, Morgan Stanley says

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Fitch turns more negative on Macau, but reiterates rating

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Moody’s says Macau decline is “credit negative” for rated companies

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Mass revenue stabilizing but not trend yet: UBS

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy Entertainment sees revenue decline 32 percent

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy 4Q14 EBITDA falls 25 percent

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy Entertainment warns of fake web sites

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy Macau in $7.4 billion expansion plan

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau may hike taxes when licenses renewed

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Morgan Stanley sees upside in lower Macau labor costs, but expects project delays

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Dividend sustainability to be a concern, Wynn at risk, CS says

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Macau GGR sees first annual decline; turnaround expected in 2015

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy touts Nikkei Asia300 ranking

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Several Galaxy employees claim unfair treatment

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy shrugs off bad luck, posts solid profit growth in 2017

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy hasn’t pulled out of Boracay: Pagcor

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Duterte nixes Boracay casino project

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Duterte met with Galaxy on Boracay project in Dec: reports

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Duterte opposes Boracay casino

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    MGM eyes Wynn bid, New York Post reports

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Environment Secretary concerned about Boracay resort

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Boracay resort to be family oriented, not mega-casino

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy buys Wynn Resorts stake

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Philippines premium mass sector tipped for growth

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    POGO revenue to double under new audit system: Pagcor

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    LRWC has 23-acre site for Boracay development

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Boracay casino to proceed despite island closure

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Most Macau gaming stocks overvalued: Morningstar

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    There was never a plan for a casino in Boracay: Duterte

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy posts record results, pushes expansion plans

    Galaxy Entertainment Group posted record Q1 adjusted EBITDA, despite bad luck during the period, and said it’s actively pursuing its expansion.

    Michael Mecca appointed as GEG non-executive director

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Galaxy reveals vision for Japan IR, expands executive team

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Sands, Melco, Galaxy to benefit most from rise of premium market

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    LRWC Q1 profit drops 70 percent

    Leisure & Resorts World Corp. said its Q1 profit dropped nearly 70 percent following its divestment from the City of Dreams, non-recognition of deferred tax assets and pre-opening expenses from a planned casino on Boracay.

    SBM adds high-class “software” to Galaxy IR bid

    Jean-Louis Masurel, managing director of Société des Bains de Mer (SBM), the owner-operator of the Monte Carlo Casino and other major properties within the Principality of Monaco, minces no words in explaining why his storied European firm chose the Galaxy Entertainment Group as its Asian partner—because they are “the best.”

    Galaxy says Wynn stake just for dividends

    Galaxy Entertainment founder and Chairman Lui Che-Woo said his company has no plans to increase its 4.9 percent stake in Wynn Resorts, damping speculation it may have been planning a full takeover.

    Are slots finally gaining a foothold in Macau?

    Slot machines have long been a secondary attraction to table games in Macau’s casinos, but a combination of product innovation and evolving customer preferences suggest they are a growing influence on operator revenue.

    Galaxy accused of snooping on employees: SCMP

    Galaxy Entertainment has been working with a Hong Kong-based digital agency to monitor and manipulate staff on social media to weed out negative comments and promote a positive image, the South China Morning Post reports.

    Pagcor says license moratorium to protect industry returns

    The Philippine Amusement and Gaming Corp said the decision to put a moratorium on issuing further land-based casino licenses in the country was designed to protect investments made by existing operators.

    Industry should outperform Hang Seng Index in 18H2: MS

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Ted Chan boosts Japan development team

    Galaxy Chief Operating Officer for Japan Development, Ted Chan, has further strengthened his team on the ground with the appointment of IR industry veteran, Ragheb Dajani, as head of planning.

    Galaxy launches IR industry education program for Japanese students

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    Cafe de Paris opens in Galaxy Macau

    Galaxy Entertainment has teamed with Monaco’s Societe des Bains de Mer to bring the Cafe de Paris Monte Carlo bistro brand to Macau.

    Galaxy H1 results driven by strong mass, VIP and operations

    Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos — the Casino Waldo.The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened […]

    No casinos on Boracay, government insists

    No casinos, either new or existing will be allowed on the island of Boracay once it reopens after a tourism ban to reverse environmental damage, Tourism Secretary Bernadette Romulo-Puyat was cited as saying at a conference in Manila.

    Japan local governments gather at the starting line

    The year 2017 saw a distinct acceleration in the race to obtain licenses to build and operate Japan’s first IRs. While everyone agrees that the potential scope of the market is vast, without the precise locations and the terms of regulation yet being clarified, estimations of the ultimate size of this market remain little more than guesswork. Progress in the year was once again stalled by politics, though operators are hoping to push forward in 2018 with both the legislative framework and their own groundwork.

    Will Japan whet Europe’s expansion appetite?

    It’s 15 years since Macau flung open its arms to international gaming companies and major US operators wasted little time heading to the Far East to plant their flags firmly in the ground. US and Australian interests have dominated casino investment across Asia, with the Europeans notably absent, however, with Japan planning to open the market, there are signs that may be about to change. 

    Gaming-linked candidates tout social fund, workers’ rights

    Macau’s sixth Legislative Assembly elections will take place on Sunday, with gaming-related candidates proposing more concessions, a social fund and better workers’ rights as part of their platforms. Seven gaming-linked candidates are competing as part of a 24-strong field for the 14 available seats.

    Looking for growth

    While the Macau market still has plenty more to give, operators are starting to look elsewhere for future growth potential 

    Japan Gaming Congress lays groundwork for IRs

    Excitement over the prospects for IR development in Japan was palpable at the just-concluded Japan Gaming Congress. Held at a major hotel in central Tokyo, it drew in a capacity crowd of 450 people, mixing international operators with local Japanese businesses and others who hope to become stakeholders in what is predicted to become a multi-billion dollar industry. More than half a dozen Japanese lawmakers spoke on the opening day of the two-day conference, including Deputy Chief Cabinet Secretary Koichi Hagiuda, a close aide to Prime Minister Shinzo Abe.

    Macau stock rally seen losing steam

    Macau’s gaming stocks have rebounded to trade at two-year highs, tracking the recovery in gross gaming revenue, however analysts warn against over optimism, saying growth may be nearing its peak, at least in the short term.

    Non-gaming revenues rise, but offering fails to inspire

    Chinese Premier Li Keqiang praised Macau’s efforts to diversify its economy during a three-day visit last year, but market experts say operators are still trying to get the recipe right when it comes to non-gaming attractions and face an uphill struggle. Revenue from non-gaming has improved, however, Macau is still far from being a destination that will attract visitors for its tourism offering off the casino floor. 

    Tourism blueprint is good start but hurdles high

    Macau’s tourism development masterplan, which aims to transform the VIP gaming hub into a mass market, diversified leisure destination, forecasts as many as 40 million tourists a year by 2015. The blueprint contains a clear vision of what the government wants for the future, with tourists staying longer and spending more on non-gaming activities. However, tourism industry experts say Macau as a family destination faces significant headwinds and stakeholders still haven't reached consensus on what brand Macau should be. 

    For the thrill of it: Does Macau have a role in China’s theme-park craze?

    With the construction of a theme park on the cards for Galaxy Macau, could this form of family friendly entertainment prove crucial in enticing mass-market tourists in their droves? A natural byproduct of China’s burgeoning middle class has been more discretionary money to spend. Research from the Boston Consulting Group predicts that China’s consumer economy will expand by about half, to $6.5 trillion, by 2020 with services overtaking goods as the chief engine for spending. The booming theme-park market is likely to be a key beneficiary, but could it drive traffic to Macau?

    Hengqin projects take shape as Macau looks for a crowd-puller

    A Macau casino company CEO recently told a group of investors, “Hengqin is the most underreported story about Macau.”While many in the gaming and hospitality industries increasingly take note of Hengqin’s future plans, projects are beginning to rise from its ground. Cratered construction sites of a Cotai magnitude, along with extensive underground infrastructure, reveal the subterranean clues of projects yet to come. Many analysts and industry observers see the development of the island’s tourism facilities as being the real game changer for Macau as it tries to transform itself into a mass market leisure destination.  

    Macau’s operators pick at costs as revenue slide continues

    Macau’s casino operators have already cut the low hanging fruit when it comes to reducing operating costs and are now struggling to further pare expenses as the slump in the market drags into its 19th straight month.With labour cuts not an easy option in Macau, the casinos face a juggling act in scaling back customer service standards without losing the customer. They are looking for creative ways to cut back behind the scenes and make every penny count.  

    Macau’s challenge: Do policy-driven changes make for a successful market?

    At this year’s Macau Gaming Show, experts were called upon to ponder whether Macau, the world’s largest gambling hub, can follow the example of Las Vegas and transform itself into an entertainment capital for the mass market.Views varied, but the one common thread was that it was going to be a long and painful transition. While Las Vegas revenue crumbled over a period of years following the financial crash of 2007, the Macau market has fallen off a cliff in little over a year largely as a result of a government policy decision in neighbouring China. That creates challenges for those trying to reinvent the market.

    2016 – what comes next for Macau and the region?

    Asia Gaming Brief asked its advisors David Green, John English, Luis Mesquita de Melo, Andrew Klebanow and Steve Gallaway, to look ahead and share with us what they believe are the underlying currents for the Asian Gaming industry in 2016. Views may differ but the one common denominator is the shifting of the sands - something will have to give…An end to the IR “arms race," by David Green The strong will survive, by Steve GallawayEnough about the Millennials, by Andrew KlebanowMacau will continue the race to reinvent, by John EnglishThe “golden” gap for emerging jurisdictions,  by Luis Mesquita de Melo 

    Macau needs better branding, tourism planning for successful transition

    Macau, whose meteoric success was fueled by the high-spending VIP gambler, needs to improve its branding and tourism planning if it is to transform to a majority non-gaming model and replace income from the missing high rollers. The government is determined to effect a Las Vegas-style shift to a destination resort, but experts say it will be a difficult road. 

    Are big budget ads money well spent or sledgehammer cracking a nut?

    With Macau gambling revenue falling for the 12th straight month in June and new multi-billion dollar casinos set to double capacity in the territory, it has become more important than ever for operators to find a way to stand out from the crowd -- but does it have to break the budget? Kevin Clayton, chief marketing officer for Galaxy Entertainment Group, cites the old saying “differentiate or die,” to describe the need for the companies to carve out their market niche and shape their brands through the best use of all available marketing tools.

    Macau’s table cap: Does it matter anymore?

    Will the new supply coming to the Cotai resort district set Macau back on the road to growth and if it does will operators be allocated enough tables to make the new multi-billion dollar resorts profitable? They are billion-dollar questions with no ready answer as operators and investors adjust to an adverse political climate in China and the chilly “new normal” this has imposed on the world’s largest casino market.

    Macau changing its game

    Macau Chief Executive Fernando Chui Sai On sent a clear message to the casino industry in the first policy address of his second term in office this week - the government is no longer just paying lip service to diversifying the economy away from gambling. The territory, which in just over a decade has grown its industry to be more than seven times the size of Las Vegas, is currently dependent on gambling for 85 percent of its income. However, after nine straight months of declining revenue that triggered a 17 percent contraction in Q4 gross domestic product, Chui said the industry is going through a phase of “adjustment.”The territory, which in just over a decade has grown its industry to be more than seven times the size of Las Vegas, is currently dependent on gambling for about 85 percent of its income. However, after nine straight months of declining revenue that triggered a 17 percent contraction in Q4 gross domestic product, Chui said the industry is going through a phase of “adjustment.”The government has cut its projected revenue from gambling receipts this year to average 20 billion patacas ($2.5 billion) a month from 27.5 billion patacas, while analysts are forecasting a second year of contraction, possibly by as much as 30 percent, according to Deutsche Bank.In his address, Chui said the government will strengthen its oversight of the casino industry as licenses come up for renewal and may require the companies to regularly submit their investment and development plans for review, in particular with regard to non-gaming activities. A tourism panel, under Chui’s supervision, will draft a five-year plan for stable casino growth that will make the region less reliant on casino revenue. Macau, Chui said, will become a center of tourism and leisure travel.
    SHARE