{"id":24478,"date":"2021-11-12T11:42:25","date_gmt":"2021-11-12T14:42:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24478"},"modified":"2026-04-23T13:53:25","modified_gmt":"2026-04-23T16:53:25","slug":"galaxy-chairman-welcomes-proposed-changes-to-macau-gaming-laws","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/galaxy-chairman-welcomes-proposed-changes-to-macau-gaming-laws","title":{"rendered":"Galaxy chairman welcomes proposed changes to Macau gaming laws"},"content":{"rendered":"\n

Dr Lui Che Woo, Galaxy Entertainment Group’s chairman, said the revision would help secure the long-term viability of the sector.<\/p>\n\n\n\n\n\n\n\n

Macau.- While Galaxy Entertainment Group’s revealed its financial results for the third quarter,\u00a0Dr Lui Che Woo, GEG chairman<\/strong>, shared his views on the\u00a0revision of Macau\u2019s gaming law<\/a>.<\/p>\n\n\n\n

Che Woo stated: “We believe the suggested proposals if implemented, would improve the regulatory oversight of the industry, increase the sector\u2019s transparency, and secure the long-term viability of Macau\u2019s most important economic pillar.”<\/p>\n\n\n\n

According to local media reports, authorities in Macau want to end the current sub-concession system<\/strong> that led to the creation of three additional Macau casino licences. <\/p>\n\n\n\n

The government also wants to increase the oversight of gaming concessionaires and junket operations<\/strong>, but it will maintain at least six gaming concessions.<\/p>\n\n\n\n

Authorities have also proposed\u00a0electing \u201cdelegates\u201d to Macau\u2019s gaming concessions<\/strong> to give a \u201cgreater checking\u201d limit on the activity of the gaming firms. A delegate system is already used to monitor other forms of public concession.<\/p>\n\n\n\n

Che Woo also referred to the Guangdong-Macau plan to develop an intensive cooperation zone on Hengqin<\/a> and said the gaming and tourism industry will greatly benefit from this master plan. <\/p>\n\n\n\n

He added: “We continue to pursue our project in Hengqin<\/strong>\u00a0and are expanding our focus beyond Hengqin and Macau to potentially include opportunities within the rapidly expanding Greater Bay Area.”<\/p>\n\n\n\n

Galaxy Entertainment revenue down 23% for Q3<\/h2>\n\n\n\n

Galaxy Entertainment<\/a>\u2018s net revenue declined 23 per cent quarter-on-quarter, from H$5.57bn to HK$4.3bn (US$551.9m) for Q3. GGR was down 26 per cent quarter-on-quarter to HK$3.7bn. <\/p>\n\n\n\n

For VIP results, Galaxy Entertainment <\/strong>posted HK$1.2bn, down 27 per cent. Mass-market results were down 25 per cent to HK$2.3bn. <\/p>\n\n\n\n

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came in just under HK$503m,<\/strong> compared to negative adjusted EBITDA of HK$1943 for Q3 2020. <\/p>\n\n\n\n

Galaxy Entertainment\u2019s Cotai venue registered net revenue of HK$2.84bn, down 25.5 per cent from the previous quarter. Adjusted EBITDA was down 50.9 per cent sequentially at HK$454m.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dr Lui Che Woo, Galaxy Entertainment Group’s chairman, said the revision would help secure the long-term viability of the sector.<\/p>\n","protected":false},"author":176,"featured_media":16600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Galaxy Entertainment Group's chairman, Dr Lui Che Woo, commented on Macau's proposed gaming law revisions, emphasizing improved regulatory oversight, increased transparency, and long-term sector viability, particularly regarding the potential end of sub-concessions and enhanced concessionaire\/junket oversight. Concurrently, GEG reported a 23% quarter-on-quarter decline in Q3 net revenue to HK$4.3bn, with GGR down 26% to HK$3.7bn, alongside strategic plans for Hengqin and the Greater Bay Area.","focusai_entities":"Dr Lui Che Woo, Galaxy Entertainment Group, GEG","focusai_location":"Macau, Guangdong, Hengqin, Greater Bay Area","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), compliance_legal (0.9), operator_casino (0.95), payments_fraud_aml (0.75), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Delegate system impact?","query":"How will the proposed delegate system impact the operational autonomy and governance frameworks of Macau's gaming concessionaires?"},{"label":"GEG expansion capex?","query":"What are the projected capital expenditure requirements for Galaxy Entertainment Group's expansion initiatives in Hengqin and the Greater Bay Area, considering the Q3 revenue decline?"}],"footnotes":""},"categories":[157,16338,158],"tags":[22935,23906],"class_list":["post-24478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-galaxy-entertainment","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=24478"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24478\/revisions"}],"predecessor-version":[{"id":24499,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24478\/revisions\/24499"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16600"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}