Big Moves for Galaxy Entertainment in Macau
Galaxy Entertainment is one of the largest investment holding companies that operates different casinos and hotels in Macau. The company is listed and Hong Kong Stock Exchange and it’s currently controlled by the Lui Family of Hong Kong.
The current Market Capitalization of Galaxy Entertainment is situated at $175B. The revenue of Galaxy Entertainment Group manage to rise 29% during the first quarter and it reached almost $2 billion. The stock market analysts are now saying that this company is at this moment one of “the most exciting gaming expansion pipeline in Asia”.
With these high numbers it makes perfect sense for them to continue their investments and always be on the lookout for the best deals available.
Galaxy Entertainment Casino Investment
One of the latest moves of Galaxy Entertainment was to buy the Grand Waldo Casino and Hotel resort in Macau. This transaction took place at the beginning of May 2013 and the sum that they settled was $419 million for this property.
Galaxy Entertainment officials have claimed that this acquisition should be considered to be a strategic investment and that their mission is to have a “synergistic effect” on the future development of group in the region. The Grand Waldo Resort is located just across the road from the Galaxy Macau, in Cotai and it is currently a very successful business, just like almost any other gambling related business from the fastest growing Macau region. The Waldo Hotel and Casino resort is packed with 38 gambling tables and 320 premium hotel rooms.
In fact Macau is considered right now to be one of the world’s biggest gaming destination. This is happening thanks to the strong demand of gambling services coming from the many wealthy Chinese customers. Macau is the number one destination for gambling in Asia and there are many large gambling companies from Las Vegas that have opened up venues in this area.
At this moment Galaxy Entertainment owns 3 different properties: Galaxy Macau, StarWorld Hotel and City Clubs. The vision of the company is to move their focus from the high rollers and to concentrate more on the big mass of players by improving the facilities and services that they have access to. This is happening since the turnover coming from the high rollers has started to go down. At the same time the Galaxy Entertainment has spent an important sum of money on developing and enhancing the gambling properties that they already have.
At this moment even if they have recently brought an important asset, Galaxy Entertainment is still on the lookout to make some more acquisitions in Macau and they are regularly checking out what is going on out there and if they see a deal that is worth the price they will most definitely buy it with confidence. At the same time Galaxy Entertainment needs to understand the fact that they must do their best to diversify their current portfolio and not to keep all their eggs in the same basket.