Galaxy Entertainment Group launched new offices in Japan and South Korea last year and is planning another in Thailand – part of its efforts to target high-value international tourists.
According to a business update contained within the company’s 4Q23 results announcement, the opening of new offices in Tokyo and Seoul is part of ongoing work GEG is doing alongside the Macao Government Tourism Office to develop international markets, in line with the government’s push to boost foreign visitation. The Thailand office will be located in Bangkok, with GEG stating this office will open “soon”.
“We are aligning our business accordingly and supporting the government’s vision,” said GEG’s Chairman, Dr Lui Che Woo. “Non-gaming is focused on attracting a broader range of customers to our resorts, leveraging our existing facilities and growing the overall market. These efforts will take time and we are doing our best.”
Dr Lui also pointed to Galaxy Macau’s Phase 4 expansion, due to open in 2027, as key to driving this international market. When complete, Phase 4 will include “multiple high-end hotel brands new to Macau, together with a 4000-seat theater, extensive F&B, retail, non-gaming amenities, landscaping, a water resort deck and a casino, which is targeted to capture the ongoing expanding market that seeks a more encompassing lifestyle experience,” he said.
“The competition for high-value international tourists is significant and we will strive to support this government initiative.”
Separately, GEG said it continues to upgrade its existing facilities, with the company “actively reconfiguring” the main gaming floor of Galaxy Macau with the aim of delivering a better flow of people across the entire floor. The company has also relocated the central premium mass high limit gaming area and added a number of F&B options, it explained, with a new high limit slot area nearing completion.
Similar upgrade works are underway at StarWorld Macau.
GEG reported on Wednesday a 7% quarter-on-quarter increase in net revenues to HK$10.3 billion (US$1.32 billion) for the three months to 31 December 2023, with Adjusted EBITDA of HK$2.8 billion (US$358 million).
