The gaming concessionaire ended the year strongly and says it will pay out dividends to shareholders to show its ‘continued confidence’ in Macao’s future.
Galaxy Entertainment Group
Dozens took part in a jovial evening of trivia and good food, while helping to raise funds for charities dealing with men’s health.
The concessionaire just released its latest results, which included a dividend payment its chairman says demonstrates ‘confidence in the longer-term outlook of Macao.’
The concessionaire will partner with the government on the addition of a cycling park, ice rink, and performance venues to a site that was already partly refurbished earlier this year.
Macao’s six concessionaires have each been given a maximum number of operators they are allowed to work with, with Sands China and SJM allocated the most.
The three-year deal will cover shows and festivals by an array of top names in the Chinese pop music firmament.
Chairman Lui Che Woo says ‘solid pent-up customer demand following the relaxation of travel restrictions’ has paid off for the gaming operator.
A lack of trained staff is holding Macao back, according to analysts, as the city gears up for the potentially lucrative Labour Day Golden Week holiday.
A report by JP Morgan says the casinos’ ability to run tighter operations is going to significantly boost profits in the coming years.
