Good morning. Happy Friday! After the sunshine comes the rain. At least that’s the attitude of Galaxy’s Chairman, who notes he is “optimistic” about the company’s ongoing recovery in 2023, even after it posted a $439 million loss last year. Further storm clouds remain though for Macau’s junket industry, as operators wait to reenter the market until the impact of new laws becomes clear. And industry veteran Alidad Tash gives a preview of topics he and fellow analysts will delve into at the ASEAN Gaming Summit!

ASEAN Gaming Summit 2023

What you need to know

  • Galaxy records a $439 million loss for 2022, but Lui Che Woo says the company is optimistic about its recovery this year.
  • Macau’s junket sector collapse has left employees high and dry, and VIP room operators are biding their time before reentering the market.
  • Alidad Tash gives a sneak peek of what he and fellow analysts will delve into at the ASEAN Gaming Summit.

On the radar

AGB Intelligence


Galaxy Entertainment, Macau, asia gaming ebrief

Galaxy records $439 million FY22 loss, optimistic for recovery

Galaxy’s chairman says he remains optimistic for an ongoing recovery in 2023, despite the company recording a $439 million loss in FY22, as it suffered from COVID restrictions in Macau. The group notes that it is on schedule to open its Phase 3 within the second quarter, with MICE events already scheduled for April and concerts to take place in its new 16,000-seat arena.

Industry Updates

Meet at ASEAN 2023