Galaxy Entertainment Group and TME Live aim to bring diverse entertainment events to Macau’s Galaxy Arena.<\/p>\n\n\n\n\n\n\n\n
Macau.- Galaxy Entertainment Group Ltd (GEG) <\/strong>has signed a three-year strategic partnership with TME Live<\/strong>, an entertainment brand under Tencent. The plan is to bring entertainment events to the newly inaugurated Galaxy Arena.\u00a0<\/p>\n\n\n\n According to the casino operator, the collaboration aims to promote the development of Macau’s culture and entertainment industry <\/strong>through a diverse range of events. The inaugural event on June 3, featured the Chinese singer Cai Xukun. Meanwhile, the 16,000-seat Galaxy Arena will host the two-day 4th Tencent Music Entertainment (TME) Awards ceremony later this year. An outdoor music festival showcasing several Chinese-speaking musicians is also in the pipeline.\u00a0<\/p>\n\n\n\n Francis Lui<\/strong>, the vice chairman of GEG, stated: \u201cWe firmly believe that this partnership has immense potential in encouraging cultural exchange between Macau and the Mainland, creating synergies, enriching the travel and leisure experiences of Macau residents and tourists, and propelling Macau\u2019s cultural and entertainment industry to new heights.”<\/p>\n\n\n\n Tsai-Chun Pan<\/strong>, the group vice president of TME Content Cooperation Department, added: \u201cWe are confident that we can bring music lovers a spectacular sonic feast for the eyes and the ears, promote extensive cultural exchange in the music industry, and continue to bring world-class Chinese music to an international fanbase.\u201d<\/p>\n\n\n\n Galaxy Entertainment Group<\/a>\u00a0<\/strong>has released its financial results for the first quarter of the year. Net revenue was HK$7.05bn (US$901.45m), up 72 per cent in year-on-year terms and up 142 per cent\u00a0when compared to the previous quarter<\/a>.<\/p>\n\n\n\n Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the first quarter was HK$1.91bn (US$244.2m), compared with negative HK$163m in the preceding quarter. Total GGR was HK$6.07bn (US$776.14m), up 79 per cent year-on-year and up 233 per cent when compared to the previous quarter. <\/p>\n\n\n\n The company reported that it plans to open its\u00a0Raffles hotel and Andaz Macau<\/strong>\u00a0this year, with 1,150 rooms.<\/p>\n","protected":false},"excerpt":{"rendered":" Galaxy Entertainment Group and TME Live aim to bring diverse entertainment events to Macau’s Galaxy Arena.<\/p>\n","protected":false},"author":176,"featured_media":26454,"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 (GEG) has forged a three-year strategic partnership with TME Live, a Tencent entertainment brand, to host diverse events at Macau's Galaxy Arena, aiming to bolster the region's cultural and entertainment industry. This initiative coincides with GEG reporting robust Q1 financial results, including a 72% year-on-year net revenue increase and a 79% rise in GGR, alongside plans for new hotel openings.","focusai_entities":"Galaxy Entertainment Group, TME Live, Tencent, Cai Xukun, Tencent Music Entertainment, Francis Lui, Tsai-Chun Pan, Raffles, Andaz Macau","focusai_location":"Macau, Mainland","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Non-Gaming Revenue Impact?","query":"What is the projected impact of this entertainment diversification strategy on GEG's non-gaming revenue contribution as a percentage of total net revenue for the upcoming fiscal year?"},{"label":"ROI on Entertainment?","query":"What specific ROI metrics is GEG targeting for this TME Live partnership, particularly concerning cross-sell opportunities to its gaming verticals and hotel occupancy rates?"}],"footnotes":""},"categories":[157,16338],"tags":[23959,23906],"class_list":["post-777006208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-galaxy-entertainment-group","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006208","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=777006208"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006208\/revisions"}],"predecessor-version":[{"id":777006230,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006208\/revisions\/777006230"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26454"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777006208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}