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14:15 Tuesday 26 January 2021
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    Genting Malaysia to prop up New York casino interests in times of distress, says Fitch

    Genting Malaysia to prop up New York casino interests in times of distress, says Fitch

    Time to shine

    Okada Manila issues warning against false rumors that business, assets are for sale

    TCSJohnHuxley completes installation of Blaze LED Technology on Okada Manila gaming floor

    TCSJohnHuxley completes installation of Blaze LED Technology on Okada Manila gaming floor

    Sheraton Grand Macao to remain in use as quarantine venues continue until end of April

    Sands China’s Sheraton Grand Macao to stop accepting quarantine guests during Chinese New Year

    Macau GGR falls 70.5% year-on-year in November to MOP$6.75 billion, slightly down versus October

    Chinese New Year bookings cancelled as China’s COVID outbreaks see Macau visitation slow: analysts

    Moody’s withdraws credit rating on Crown Resorts Euro Medium Term Notes, program said to be halted

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                  Sheraton Grand Macao to remain in use as quarantine venues continue until end of April

                  Sands China’s Sheraton Grand Macao to stop accepting quarantine guests during Chinese New Year

                  Macau GGR falls 70.5% year-on-year in November to MOP$6.75 billion, slightly down versus October

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                    Reports Yokohama to start RFP in late January

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                      Genting Malaysia to prop up New York casino interests in times of distress, says Fitch

                      Genting Malaysia to prop up New York casino interests in times of distress, says Fitch

                      Time to shine

                      Okada Manila issues warning against false rumors that business, assets are for sale

                      TCSJohnHuxley completes installation of Blaze LED Technology on Okada Manila gaming floor

                      TCSJohnHuxley completes installation of Blaze LED Technology on Okada Manila gaming floor

                      AIGF leaders join SBC Digital India’s high-level speaker line-up

                      AIGF leaders join SBC Digital India’s high-level speaker line-up

                      Sheraton Grand Macao to remain in use as quarantine venues continue until end of April

                      Sands China’s Sheraton Grand Macao to stop accepting quarantine guests during Chinese New Year

                      Macau GGR falls 70.5% year-on-year in November to MOP$6.75 billion, slightly down versus October

                      Chinese New Year bookings cancelled as China’s COVID outbreaks see Macau visitation slow: analysts

                      Trending Tags

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                        Power restored

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                        2020 Asian Gaming Power 50: Top of the World

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                        2020 Asian Gaming Power 50: Number 2 – Sheldon Adelson

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                        • NEWS
                          Genting Malaysia to prop up New York casino interests in times of distress, says Fitch

                          Genting Malaysia to prop up New York casino interests in times of distress, says Fitch

                          Time to shine

                          Okada Manila issues warning against false rumors that business, assets are for sale

                          TCSJohnHuxley completes installation of Blaze LED Technology on Okada Manila gaming floor

                          TCSJohnHuxley completes installation of Blaze LED Technology on Okada Manila gaming floor

                          Sheraton Grand Macao to remain in use as quarantine venues continue until end of April

                          Sands China’s Sheraton Grand Macao to stop accepting quarantine guests during Chinese New Year

                          Macau GGR falls 70.5% year-on-year in November to MOP$6.75 billion, slightly down versus October

                          Chinese New Year bookings cancelled as China’s COVID outbreaks see Macau visitation slow: analysts

                          Moody’s withdraws credit rating on Crown Resorts Euro Medium Term Notes, program said to be halted

                          Trending Tags

                          • FEATURES
                            2021: Japan IR – Crunch time

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                            In safe hands

                            In safe hands

                            A spirit of social responsibility

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                            Taxation tremors

                            Taxation tremors

                            10 years ago

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                            Trending Tags

                            • PEOPLE
                              Dave Smith: Smell of success

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                              Scientific Games insists liquidity position strong after adding US$480 million in debt, cutting costs

                              Scientific Games appoints Eileen Moore Johnson as Executive Vice President and Chief Human Resources Officer

                              Creation theory

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                              Paltronics announces passing of Stephen Cowan, much-admired Managing Director

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                              Dark days

                              POST-COVID2: The most transformative business shock of our lifetimes

                              Dominic Laubach: Global explorer

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                              Trending Tags

                              • COLUMNISTS
                                Memories of the man that was Sheldon Adelson

                                Memories of the man that was Sheldon Adelson

                                Big money

                                A decade of differentiation

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                                How to set up for IR success

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                                Macau: Taking a sensible approach to responsible gaming

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                                Time to realign?

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                                Trending Tags

                                • TECH TALK
                                  Creation theory

                                  Sega Sammy Creation aiming for “maximum fortune” in 2021

                                  IGT launches new game for its strong performing Ying Cai Shen link

                                  IGT launches new game for its strong performing Ying Cai Shen link

                                  Jumbo given GLI certification for new Long Yi Fa jackpot link games

                                  Jumbo given GLI certification for new Long Yi Fa jackpot link games

                                  Aruze Gaming launches two new pachinko-inspired slot titles into Asia

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                                  First-class showcase in the virtual space

                                  First-class showcase in the virtual space

                                  Badge of honor

                                  Badge of honor

                                  Trending Tags

                                  • iGAMING
                                    Live-games integration as an effective marketing tool for increasing bets

                                    TVBET to enter the Montenegro iGaming market

                                    Manila restrictions ease as Duterte implements General Community Quarantine for National Capital Region

                                    Philippine police arrest eight alleged members of POGO-linked “kidnap for ransom” gang

                                    PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

                                    Philippines court order preventing new 5% franchise tax could halt POGO exodus

                                    MGM Resorts looking to raise US$750 million via senior notes offering

                                    MGM Resorts considering US$13 billion takeover offer for Ladbrokes owner Entain

                                    Evolution launches world’s first online live Craps game

                                    Evolution launches world’s first online live Craps game

                                    Duterte extends “modified” quarantine measures across Metro Manila to 31 May

                                    PAGCOR sees regulatory fees from POGOs halved as Philippines online gaming industry shrinks

                                    Trending Tags

                                    • EVENTS
                                      AIGF leaders join SBC Digital India’s high-level speaker line-up

                                      AIGF leaders join SBC Digital India’s high-level speaker line-up

                                      Winter wonderland

                                      Alex Pratt, Stuart Hunter take the reins as ICE organizer Clarion Gaming announces management changes

                                      Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                                      Founders of leading Indian gaming companies among speakers at upcoming SBC Digital India

                                      Castle in the Sky

                                      Osaka IR & Inbound Business Seminar canceled due to COVID-19

                                      SBC launches new SBC Digital 2021 events program

                                      SBC launches new SBC Digital 2021 events program

                                      IAG named Lead Media Partner for Phil-Asian Gaming Expo (PAGE)

                                      Phil-Asian Gaming Expo says Manila’s SMX Convention Centre to be sole venue for PAGE 2021

                                      Trending Tags

                                      • MACAU
                                        Sheraton Grand Macao to remain in use as quarantine venues continue until end of April

                                        Sands China’s Sheraton Grand Macao to stop accepting quarantine guests during Chinese New Year

                                        Macau GGR falls 70.5% year-on-year in November to MOP$6.75 billion, slightly down versus October

                                        Chinese New Year bookings cancelled as China’s COVID outbreaks see Macau visitation slow: analysts

                                        “Grand Lisboa Macau” name used in illegal online gambling operation in Vietnam

                                        China’s digital yuan to benefit Macau casinos, boost mass and premium mass: Bernstein

                                        Zhuhai to accept Macau’s COVID-19 test results

                                        Macau on alert as Zhuhai records case of COVID-19 in self isolation

                                        All eyes on recovery as MGM China, UMAC hold seminar for MGM staff on mainland China consumption habits

                                        All eyes on recovery as MGM China, UMAC hold seminar for MGM staff on mainland China consumption habits

                                        Macau registers first COVID-19 case since June in returning flight passenger

                                        Macau registers first COVID-19 case since June in returning flight passenger

                                        Trending Tags

                                        • JAPAN
                                          Reports Yokohama to start RFP in late January

                                          Yokohama publishes IR public tender requirements as lengthy RFP begins

                                          Macau imposes quarantine restrictions on arrivals from Japan, German, France and Spain

                                          Foreign visitor arrivals to Japan down 97.7% year-on-year in December

                                          Amax shareholders approve company name change, mobile games apps sale

                                          Japan IR contender Oshidori issues positive profit warning on expected US$300 million profit in 2020

                                          Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                                          Osaka Mayor Matsui calls for Tokyo Olympic Games to be postponed until 2024

                                          Creation theory

                                          Sega Sammy Creation aiming for “maximum fortune” in 2021

                                          2021: Japan IR – Crunch time

                                          Osaka IR bid included in ordinance for unified Osaka city/prefecture council

                                          Trending Tags

                                          • REGIONAL
                                            • All
                                            • Africa
                                            • Australia
                                            • Cambodia
                                            • China
                                            • CNMI
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                                            • India
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                                            • Singapore
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                                            • Thailand
                                            • Vietnam
                                            Genting Malaysia to prop up New York casino interests in times of distress, says Fitch

                                            Genting Malaysia to prop up New York casino interests in times of distress, says Fitch

                                            Time to shine

                                            Okada Manila issues warning against false rumors that business, assets are for sale

                                            TCSJohnHuxley completes installation of Blaze LED Technology on Okada Manila gaming floor

                                            TCSJohnHuxley completes installation of Blaze LED Technology on Okada Manila gaming floor

                                            AIGF leaders join SBC Digital India’s high-level speaker line-up

                                            AIGF leaders join SBC Digital India’s high-level speaker line-up

                                            Sheraton Grand Macao to remain in use as quarantine venues continue until end of April

                                            Sands China’s Sheraton Grand Macao to stop accepting quarantine guests during Chinese New Year

                                            Macau GGR falls 70.5% year-on-year in November to MOP$6.75 billion, slightly down versus October

                                            Chinese New Year bookings cancelled as China’s COVID outbreaks see Macau visitation slow: analysts

                                            Trending Tags

                                            • POWER 50
                                              Power restored

                                              Power restored

                                              2020 Asian Gaming Power 50: Top of the World

                                              2020 Asian Gaming Power 50: Top of the World

                                              2020 Asian Gaming Power 50: Meet the panel

                                              2020 Asian Gaming Power 50: Meet the panel

                                              2020 Asian Gaming Power 50: Ones to watch

                                              2020 Asian Gaming Power 50 list

                                              2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                                              2020 Asian Gaming Power 50: Number 1 – Francis Lui

                                              2020 Asian Gaming Power 50: Number 4 – Lawrence Ho

                                              2020 Asian Gaming Power 50: Number 2 – Sheldon Adelson

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                                              2019 Asian Gaming Power 50: Number 1 – Francis Lui

                                              Newsdesk by Newsdesk
                                              Thursday 7 November 2019 at 16:11
                                              Francis Lui tops 2019 Asian Gaming Power 50!
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                                              DEPUTY CHAIRMAN
                                              Galaxy Entertainment Group

                                              POWER SCORE: 7,764
                                              POSITION LAST YEAR: 2

                                              CLAIMS TO FAME
                                              • Built Galaxy into Macau’s de facto local gaming champion
                                              • Developing largest single land plot in Cotai, Phases 3 and 4 due by 2022
                                              • Technically serves under his 90-year-old father, Galaxy Chairman Lui Che Woo
                                              • Holds strategic stakes in Monte Carlo casino operator SBM and Wynn Resorts

                                              GALAXY Entertainment Group battles Sands China for the Macau gaming market lead, and its flagship Galaxy Macau vies with Marina Bay Sands in Singapore for the title of world’s most profitable integrated resort.

                                              Galaxy has supplanted SJM Holdings as what JPMorgan’s DS Kim calls Macau’s “de facto local champion” casino operator. Galaxy Deputy Chairman Francis Lui has replaced Stanley Ho as Macau’s de facto industry leader, his personality a counterpoint to the flamboyant Ho. The secrets to Galaxy’s success are hidden in plain sight and reflect Lui’s leadership under his Hong Kong tycoon father, Galaxy Chairman Lui Che Woo.

                                              “Galaxy’s vision is to be: Globally recognized as Asia’s leading gaming and entertainment corporation,” the Hong Kong listed company states. “This vision will be achieved through adhering to our proven business philosophy.”

                                              The first tenet of that philosophy is “Local market insights: Leveraging Chinese heritage and deep understanding of Asian and Chinese customer preferences.”

                                              Trained as an engineer in the US, Lui cut his professional teeth working on family development projects in mainland China. He defied the boss’ son stereotype by bringing his own lunchbox and eating with construction workers. That experience, plus extensive research – Galaxy had no gaming background so, unlike most rivals, didn’t approach Macau with preconceived notions – helps Galaxy understand what Chinese consumers want.

                                              Flagship Galaxy Macau reflects that understanding. The Cotai complex has six hotels with 3,600 rooms from top end Ritz-Carlton to budget Broadway. True to its “World Class, Asian Heart” motto, Galaxy features Japan’s Okura and Southeast Asia’s Banyan Tree hotel brands. Understanding the best way to Asian hearts, Galaxy has 120 food outlets from the full gamut of Chinese regional choices to Instagram-able desserts. To emulate Southeast Asia’s beaches, Galaxy created the Grand Resort Deck atop the resort podium, with 350 tons of white sand and the world’s largest rooftop wave pool, plus water rides and slides in a tropical garden setting. It opened a 10 screen cineplex, enabling mainland visitors to see movies that may be unavailable in theaters back home due to film import quotas. Phase 2, opened in May 2015, four years after the first stage, features the Promenade mall with over 200 shops at various price points.

                                              Along with Chinese customers, Galaxy also understands Chinese authorities (the surest bet in Macau may be Galaxy receiving a casino concession in the government’s re-tendering exercise in 2022). Broadway Food Street exemplifies its political savvy, featuring Macau restaurants and products from local SMEs, supporting local and mainland government calls for economic diversification.

                                              Due for completion by 2022, Galaxy Macau Phases 3 and 4 will include an arena and MICE facilities, further promoting diversification. Even with gaming revenue falling more than 10% this year amid its transition from VIP to mass focus, Galaxy is poised to fund that US$6 billion-plus expansion from cash and earnings.

                                              Galaxy also operates casino hotel StarWorld, a leg of the Macau peninsula golden triangle with Wynn Macau and Grand Lisboa, and has strategic stakes in Monte Carlo gaming operator SBM, its partner for a Japan IR bid, and Wynn Resorts.

                                              Philippine President Rodrigo Duterte quashed its initiative for a US$500 million casino resort in Boracay, but Galaxy is planning a non-gaming resort across from Cotai on Hengqin island, a pet project of China’s President Xi Jinping. For Galaxy, there’s no place like home.

                                              For the full list of 2019 Asian Gaming Power 50 winners, click here.

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                                              Newsdesk

                                              Newsdesk

                                              The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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