This story marks a pivotal moment in China’s entry into the global casino industry, specifically focusing on Lui Che Woo, an iconic Hong Kong investor who has left an indelible mark on the sector. Over a month after Lui’s passing, his eldest son, Francis Lui, stepped up from his past role as vice chairman at Galaxy Entertainment Group to become the new chairman. This shift underscores Francis’s belief in the broader expansion of the Macau casino sector beyond traditional gambling, aligning with the government’s strategic aim to diversify the economy.
Macau’s gaming sector has seen a significant rise in revenue during 2024, rising 24% compared to the previous year and rising another 23% year-on-year. This quarter saw the company’s gaming revenue reach $227 billion (equivalent to 227 billion patacas, with the conversion rate of 1 pataca to approximately $28). Despite thisplist expansion, Macau’s gaming revenue still stands above the pre-pandemic level, consistent with a rise in consumer demand.
Galaxy Entertainment Group is enhancing its presence in the Macat casino capital with the expansion of its three resorts, including Galaxy Macau, a key resort in the region. The company is now planning to expand the development of Galaxy Macau and introduce family-friendly attractions, such as a 4,000-seat theater and a water park, to cater to a broader range of fans. Adjusted Ebitda for the third quarter rose by 6% to HK$2.9 billion, reflecting a modest increase in net revenue of HK$10.7 billion, with 15% of this revenue deriving from non-gaming activities.
Galaxy Entertainment Group’s Hong Kong-listed shares have experienced a significant drop of 31% in the past year, partly attributed to Beijing’s restricting high-risk investors to prevent capital outflows. Lui and his siblings, including four other siblings, had a combined fortune of over 10 billion Hong Kong dollars. Their legacy continues to inspire)));
The Excitement of dominating Macau’sgambling想念
In a breath of fresh air, Lui Che Woo and his eldest son Francis Lui saw their legacy shine in Hong Kong’s global casino industry. Over a month following Lui’s demise, Francis assumed the newly vacated role at Galaxy Entertainment Group. His decision to expand Galaxy Macau beyond gambling aligns with a broader government strategy to diversify the economy and retain a vibrant local activity.
Macau’s gaming sector, by show, now accounts for more than a third of its GDP and saw a 24% rise in 2024. This growth is driven by government initiatives aimed at stabilizing the gaming ventured sector. The company’s gaming revenue continued to lag behind pre-pandemic levels, but momentum has усилиed in this sector. The outcome has confirmed the feasibility of expanding gambling to include entertainment and tourism.
Galaxy Entertainment Group’s decision to expand its Husayoning its three resorts—including Galaxy Macau—into more amenities such as family-friendly attractions has further cemented its position as a key force in the region. The company’s third-quarter results showed a 6% increase in adjusted Ebitda and a 11% rise in net revenue, reflecting broader growth in the gaming sector. Meanwhile, its Hong Kong-listed shares fell by 31% in the past year, alongside Beijing’s efforts to control excessive capital flows to protect national infrastructure.
Lui che woo and his siblings’, kin to the ever-growing Hong Kong casino industry, continue to be a mysterious figure,莝 to the legacy of their predecessors. Francis Lui’s decision to extend Galaxy Macau reflects a bold plan to enhance the dining and entertainment offerings, potentially making him a multi-generational leader in the industry. Their enduring impact on Hong Kong’s gaming sector is undeniable, a testament to ambition and resilience—and a reminder of the resilience of teams that embrace change.
