{"id":30922,"date":"2022-06-20T02:19:50","date_gmt":"2022-06-20T05:19:50","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=30922"},"modified":"2026-04-23T07:39:58","modified_gmt":"2026-04-23T10:39:58","slug":"galaxy-confirms-casino-waldo-to-operate-until-year-end","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/galaxy-confirms-casino-waldo-to-operate-until-year-end","title":{"rendered":"Galaxy confirms Casino Waldo to operate until year-end"},"content":{"rendered":"\n

The company has cleared up doubts over the situation regarding Casino Waldo, confirming that it will remain open until December 31.<\/p>\n\n\n\n\n\n\n\n

Macau.- Galaxy Entertainment Group has announced that the Casino Waldo satellite casino will continue to operate until December 31. A representative confirmed the decision to Macau Daily News after it was speculated that the casino operator may end its agreement with the complex as it did with\u00a0Rio Casino and President Casino<\/a>.<\/p>\n\n\n\n

However, it was not revealed if the existing third-party management of Waldo Casino & Hotel <\/strong>will continue the gaming operation, or if Galaxy Entertainment Group will directly take over the casino business at the property.<\/p>\n\n\n\n

As regards the closure of Rio Casino and President Casino, Rio Entertainment Ltd<\/a>\u00a0has questioned Galaxy’s decision to close the casinos, saying that the company had not sought to negotiate. However,\u00a0Elmen Lee, Galaxy’s executive vice president for business development, hotel and MICE sales, told Macao Daily News that the gaming operator had been speaking with Rio’s management for several months about the future of the satellite casino. <\/p>\n\n\n\n

Galaxy Entertainment said that staff from both of the satellite casinos would be transferred to other units with the same employment conditions.<\/p>\n\n\n\n

Vote on Macau\u2019s gaming law amendment bill to take place on June 21<\/h2>\n\n\n\n

The Legislative Assembly’s final debate and vote on Macau’s new gambling legislation have been scheduled for June 21 at 3pm. A final draft was approved by the Legislative Council\u2019s second standing committee on June 15 and makes several changes to the original, the most important of which relate to tax hikes on gambling and the future of satellite casinos.<\/p>\n\n\n\n

The new draft calls for operators to levy a 35 per cent direct gaming tax and a 5 per cent flat tax on Macau’s social welfare and urban development, an increase of 1 per cent from the previous one. This 5 per cent indirect tax can be reduced if operators manage to attract more foreign players<\/a> to their casinos.<\/p>\n\n\n\n

Major changes also require any casinos operating in the city to be established on assets owned by gaming operators<\/strong>. However, authorities extended the original three-year grace period <\/strong>proposed to allow satellite casinos to resolve ownership issues.<\/p>\n\n\n\n

Six-month casino contract extensions will be signed on June 23 to extend existing concessions pending a new tender.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company has cleared up doubts over the situation regarding Casino Waldo, confirming that it will remain open until December 31.<\/p>\n","protected":false},"author":176,"featured_media":25801,"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 confirmed Casino Waldo will operate until December 31, amidst speculation following the closure of Rio and President Casinos, with uncertainty regarding future management. Concurrently, Macau's Legislative Assembly is set to vote on new gaming legislation on June 21, introducing increased direct and indirect gaming taxes and mandating casino asset ownership by operators, alongside an extended grace period for satellite casinos.","focusai_entities":"Galaxy Entertainment Group, Casino Waldo, Rio Casino, President Casino, Rio Entertainment Ltd, Elmen Lee, Macau Daily News, Legislative Assembly, Legislative Council\u2019s second standing committee","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Satellite Casino Ownership","query":"What specific mechanisms or timelines are anticipated for satellite casinos to transition to direct asset ownership by concessionaires, and what are the potential M&A implications for existing third-party management agreements?"},{"label":"Tax Impact & Foreign Players","query":"How will the increased direct and indirect gaming taxes, coupled with the incentive for attracting foreign players, alter the GGR and NGR projections for Macau's concessionaires, and what strategies are expected to maximize the tax reduction?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906],"class_list":["post-30922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30922","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=30922"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30922\/revisions"}],"predecessor-version":[{"id":30964,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30922\/revisions\/30964"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25801"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}