Galaxy Rio Casino
| Type | Public |
|---|---|
| SEHK: 27 | |
| Industry | Hospitality, Tourism |
| Founded | 1988; 33 years ago |
| Founder | Lui Che Woo |
| Headquarters | Hong Kong |
Area served | Global |
| Francis Lui (Chairman & CEO) | |
| Products | Gambling, Hotels, Entertainment, Casinos, Resorts |
| Revenue | HK$51 billion (2015) |
| Owner | Lui Che Woo Francis Lui Yiu Tung |
| Website | Galaxy Entertainment Group |
“Rio is a Las Vegas destination gem and, by all measures, one of the highest-quality and best managed companies in our business,” then-Harrah’s Chairman Phil Satre said of the deal. Galaxy Macau (Chinese: 澳門銀河綜合渡假城) is a casino resort located on the Cotai Strip, Macau, China.Construction on the Cotai project began in 2002. Its opening was rescheduled several times. Its developer, Galaxy Entertainment Group, announced on 10 March 2011 that the HKD 14.9 billion (US$1.9 billion) resort would officially open on 15 May 2011. Galaxy Casino S.A. Has been operating under the Macau SAR government since 2002. Their inaugural offerings in the Macau gaming industry were four City Club casinos in 2004, according to their official information. However, the Grand Waldo Hotel was converted into Broadway Macau and GEG now owns 3 City Club properties. Casino Rio is a fairly modern hotel with a casino gaming floor that is pretty flexible and can meet most gamblers needs. There is nearly 100 table games in this casino with more than only baccarat to play, which says a lot in Macau. You will find also find Blackjack, Baccarat, Sic-bo, Face-up Baccarat, Caribbean Stud Poker and Roulette.
Galaxy Entertainment Group ('GEG') (Chinese: 銀河娛樂集團 is a company listed on the Hong Kong Stock Exchange (SEHK: 27) that owns and operates hotels and casinos in Macau through its subsidiary, Galaxy Casino S.A.
History[edit]
The company, known formerly as K. Wah Construction Materials, disposed of its construction material business and became the only Hong Kong-listed company to hold an operating license in Macao in 2005 by acquiring a 97.9% stake in Galaxy Casino SA.[1] The deal was described as akin to 'a snake trying to swallow an elephant'.[1] Galaxy and Venetian Macao had originally planned to run their gaming license in Macao jointly, but the two had since split and decided to run their gaming business separately.[1]
In February 2020 the company confirmed it had withdrawn from its bidding in Osaka and would instead focus on other licenses in Japan, including Yokohama[2] among others.[3] After its Macau casinos were closed that month for the Corvid outbreak as well as other casinos, the company said it would return to full capacity only after guest demand had increased.[4]
Properties[edit]
The company owns the following casinos and hotels in Macau:
- The StarWorld Macau (Macau Peninsula)
- CityClub casinos (Macau Peninsula)
- Waldo Casino
- President Casino
- Rio Casino
- Broadway Casino (Cotai Strip)
- The Galaxy Macau (Cotai Strip)
Galaxy Stars[edit]
- Jeremy Chan (田铭耀) - Actor
Business areas[edit]
Galaxy Rio Casino
The principal activities of Galaxy Entertainment and its subsidiaries are operation in casino games of chance or games of other forms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of construction materials in Hong Kong, Macau and Mainland China.
It operates in two segments: gaming and entertainment, and construction materials.
Ownership structure[edit]
Galaxy Entertainment Group is ultimately controlled by the Lui Family of Hong Kong, which has a combined interest of 50.3%. This family has a direct interest of 8.6% in GEG and an indirect interest of 41.7% via the Lui Family Trust and Hong Kong listed K Wah International.[5]
See also[edit]
References[edit]
Galaxy Rio Casino Entertainment
- ^ abcChugh, Paresh; Chan, Sammy. 'K. Wah joins Galaxy of gaming market'. Chinadaily.com.cn. Retrieved 6 January 2017.
- ^asgam.com
- ^calvinayre.com
- ^macaudailytimes.com
- ^[1]
External links[edit]
- Business data for Galaxy Entertainment Group: