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Galaxy ties up with Monaco associate in Japan license bid

Casino operator Galaxy Entertainment Group has plans to partner with its associate in Monaco, Societe des Bains de Mer (SBM), to pursue casino resort development opportunities in Japan and other markets in Asia-Pacific.

In an interview with Nikkei Asia Review, Galaxy president Michael Mecca said the passage of the casino gambling bill made it "a suitable time to share details of our partnership" with Societe des Bains de Mer.

In 2015, Galaxy paid US$46.1 million for a 5 percent stake in SBM, which owns the Casino de Monte Carlo and three other gambling palaces in Monaco. In the interview, Mecca said Casino de Monte Carlo is the "original integrated resort."

Mecca also noted that Galaxy has now set up an office in Tokyo.

"We have been building relationships with government officials, prefectural governments, city governments and major corporations," he said. "We have been taking the time to understand how to do business in Japan."

Earlier this month, Galaxy Entertainment Group deputy chairman Francis Lui Yiu Tung said the company has studied plans for a casino in the Japanese cities of Osaka and Tokyo and is confident of obtaining a license.

“The Lui family’s long-term development history in the country gives us advantages. We’re very confident,” said the deputy chairman in an interview with the Hong Kong Economic Times.

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