Galaxy Entertainment Group

Stock performance

History

Galaxy Entertainment Group is controlled by Hong Kong tycoon Lui Che-woo, whose construction-materials business won one of Macao's three new gaming concessions when the market was opened up in 2002. It opened its flagship Galaxy Macau resort on Cotai in 2011 and has expanded it in several phases since.

Business model

Galaxy runs integrated resorts including Galaxy Macau and Broadway Macau on Cotai and StarWorld on the Macao peninsula, earning most of its revenue from mass-market and premium gaming, complemented by hotels, retail, and entertainment such as the Galaxy Arena. It also retains a construction-materials business in Hong Kong and mainland China.

Market position

Galaxy is one of Macao's largest gaming operators by revenue and market value and is notable among the big operators for being locally controlled rather than a subsidiary of a US casino group.

Country impact

Galaxy is one of Macao's biggest private employers and taxpayers, in an economy where gaming taxes fund most of the government's budget. Its continued expansion on Cotai is part of the territory's push to attract more family and leisure tourism from mainland China.