Inside Asian Gaming

IAG NOV 2021年11月亞博匯 56 1-10 VICE CHAIRMAN Galaxy Entertainment Group 副主席 銀河娛樂集團 CLAIMS TO FAME 名成事跡 POWER SCORE 權能指數: 4,490 POSITION LAST YEAR 去年排名: 1 Built Galaxy into Macau’s de facto local gaming champion Substantial liquidity left Galaxy best-positioned to ride out COVID-19 pandemic Holds strategic stakes in Monte Carlo casino operator SBM and Wynn Resorts • • • • • • 把銀河塑造成澳門實際上的本地博彩業界王者 銀河的雄厚流動資金，讓該公司以最好姿態渡過新冠肺炎大流行 在蒙地卡羅娛樂場營運商SBM及永利渡假村戰略持股 FRANCIS LUI 1 呂耀東 LIKE EVERYONE in Macau, Galaxy Entertainment Group has felt the financial pain of the COVID-19 pandemic. Having reported a HK$4 billion (US$514 million) loss in 2020, GEG only just sneaked back to a HK$900,000 (US$116,000) profit in the first six months of 2021 with recent COVID scares and border restrictions around October Golden Week casting doubt over what 2H21 results might hold. But with Francis Lui at the helm, GEG’s conservative fiscal policy has it better placed than any of its fellow Macau casino concessionaires, who have relied heavily on sizeable new loan facilities and bank waivers to ride out the pandemic. According to updates provided in August, the company held liquid investments of HK$43.0 billion (US$5.53 billion) and net cash of HK$31.6 billion (US$4.06 billion) as of 30 June 2021, making it the only one of Macau’s “Big 6” to hold a net cash position. And there is much to look forward to in 2022, even amid the uncertainty surrounding COVID-19 and the expiration of gaming licenses on 26 June.