Sunday, February 25, 2024

Tag: Galaxy Entertainment

Macau looks to VIP market to drive recovery

Ben Lee iGamiX Macau VIP market recovery
Ben Lee, managing partner at IGamiX Management and Consulting observes that even prior to the pandemic Macau was already seeing a downward trend in GGR and suggests the VIP market will be the key to a recovery.

Galaxy Entertainment chair remains “confident” about prospect of Boracay IR

Lui Che Woo, Galaxy Entertainment
Galaxy Entertainment and its local partner Leisure and Resorts World Corp remain sanguine about the prospects for their proposed $500m integrated resort development on Boracay, while the government insists the project won’t be given the green light. Galaxy Entertainment chairman, Lui Che Woo, reaffirmed his confidence that the company will still be allowed to go ahead with its $500m integrated...

Philippine government to ban casinos on Boracay

President Rodrigo Duterte once again appears intent on cracking down on the gambling industry in the Philippines, moving to ban all casinos on Boracay, after calling time on Galaxy Entertaiment’s plan to build an integrated resort on the popular tourist island earlier this year. While hopes had once again been raised that Galaxy Entertainment Group’s plan to build an integrated...

Galaxy Entertainment drives ahead with Phase Three Macau development

Galaxy Macau
Galaxy Entertainment Group has announced Phase Three of the Galaxy Macau will be operational by 2019. The Macau-based operator projected that a casino space, 1500 rooms and conference centre would be completed at the integrated resort within two years. “We hope that by the end of 2019, we can see stage one of Phase 3 completed,” said Galaxy chairman Lui Che...

ICE London to host Japan Networking Breakfast

Lawrence Ho ICE Japan Networking Breakfast
Gaming organisations targeting the significant business opportunities in the emergent Japanese integrated resort sector, are being invited to participate in a networking breakfast taking place at ICE London on Wednesday 7th February (8.30 - 10am, stand, N5-260).   The Japan Networking Breakfast, is being organised by Clarion Gaming ahead of its 2018 Japan Gaming Congress (JgC) which has received the endorsement of numerous...

Galaxy Entertainment confirms Boracay casino resort plans

Francis Lui Yiu Tung galaxy
Reflecting Pagcor’s aim to develop gaming outside Manila, Galaxy Entertainment has announced plans for a new casino resort on the central Philippine island of Boracay, while Cebu province has three new IRs in the works. But is the marketplace getting overcrowded?   Hong Kong-listed casino operator Galaxy Entertainment Group has confirmed plans to develop a casino resort in the central Philippine...

Galaxy Executive proposes open Hengqin travel

ICR - Hengqin Macau VIP
Speaking at G2E Asia, Francis Lui Yiu Tung, Deputy Chairman of Galaxy Entertainment Group, expressed his support for the idea of aligning the border policies for Macau and Hengqin, while also stressing the need for Macau’s industry to remain competitive in the face of challenges to its market dominance from lower-tax jurisdictions.   The idea of “borderless” travel between Hengqin and...

Galaxy heads to year-end with renewed confidence

Casino Review Galaxy Macau
Robust third-quarter growth for Galaxy Entertainment suggests Macau’s gaming market might be finally bottoming out.   Galaxy Entertainment Group has booked a five per cent increase in revenues for the third quarter of 2016, as the Macau casino operator shifts its focus to mass-market gamblers. In the three months to September 30, group-wide revenues for Galaxy totalled $12.9bn (E11.8bn), with the five...

Macau rebound underway, says Galaxy owner

Casino Review Galaxy Entertainment Macau
Macau has weathered the worst of its economic woes and is now on the bounce-back – according to one of the city’s most prominent gaming stakeholders.   Galaxy Entertainment owner Lui Chee-Woo made the remarks to assembled press following the release of encouraging interim financial results for the company. “Macau’s gaming sector has hit rock bottom and a rebound is already on the horizon,”...

Galaxy Entertainment’s profits suggest Macau stabilisation

Casino Review, Macau, Galaxy
Macau casino operator Galaxy Entertainment beat analysts’ predictions as it registered an encouraging second quarter of 2016, suggesting the ‘stabilisation’ of Macau’s gaming sector after two years of decline.   For the six months to 30 June, Galaxy’s net profit increased by 26 percent year-on-year to HK$2.6bn (€300m), and overall group revenue and adjusted EBITDA moved up one percent to HK$25.5bn...