Francis Lui Yiu Tung, the chairman of Galaxy Entertainment Group, revealed that the Macau-based casino company is venturing to Thailand to evaluate its potential as a promising venue for casino development. As part of initial efforts, Galaxy Entertainment has established a presence in Bangkok with an office and is currently dispatching a dedicated team to assess the broader possibilities across Thailand. During a press briefing in Hong Kong, Lui expressed confidence regarding Thailand’s potential, highlighting the country’s appeal for the casino industry. He noted ongoing studies and maintained optimism about the Thai market's prospects.
Thailand Casino Legislation: A New Frontier
The political landscape in Thailand is setting the stage for casino operators. On January 13, the Thai cabinet gave a nod of approval to the Entertainment Complex Bill, which paves the way for casino liberalization. This bill will soon face the scrutiny of the National Assembly's lower house, followed by public hearings aimed at refining the proposal further before any enactment.
These developments indicate an incoming legislative framework that could welcome international operators like Galaxy Entertainment. Meanwhile, in Macau, a Galaxy-linked entity has taken proactive measures by applying for trademarks incorporating ‘Bangkok’ and ‘Thailand’. Mr. Lui commended Thailand’s qualities as an attractive destination, praising its friendliness, stunning landscapes, and culinary delights. He firmly believes in the country's capacity to support a thriving casino resort industry, projecting a boost to the Thai economy.
Future Growth and Competitive Positioning
The fiscal health of Galaxy Entertainment appears robust, positioning it favorably for potential expansions outside Macau. As reported in its 2024 annual financial statements, the company boasts HKD27.1 billion in net cash resources. Such financial leverage allows Galaxy Entertainment to act swiftly and effectively to seize opportunities as they materialize. Expressing confidence in the growth potential, Mr. Lui emphasized Galaxy Entertainment's readiness to capitalize on Thailand's anticipated casino market opening.
In Macau, projections remain positive, with Mr. Lui expressing satisfaction over recent performance despite some investor concerns. Galaxy Entertainment continues to innovate, with initiatives like integrating smart technology in baccarat tables to enhance customer engagement. This proactive stance ensures that Galaxy can maintain its competitive edge as new markets emerge. Looking ahead, Galaxy anticipates further development at its flagship Macau site, including new hotel openings and an expanded Phase 4 by 2027, signaling its commitment to growth and diversification.
Source: Galaxy Entertainment to send team to study Thailand market: Francis Lui, GGRAsia, February 27, 2025.
Posted by Wizard
Feb 27 2025
Feb 27 2025
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