Thursday, August 11, 2022

Galaxy invests in Monaco hotel and casino operator


Galaxy Entertainment Group announced it has invested in an owner and operator of luxury hotels and casinos in Monaco.

GEG is acquiring ordinary shares equivalent to approximately 5 percent in Societe Anonyme des Bains de Mer et du Cercle des Etrangers a Monaco (SBM), which is listed on the Euronext in Paris. 

SBM’s hotel properties include Hôtel de Paris Monte-Carlo, Hôtel Hermitage Monte-Carlo, Sun Casino and Monte-Carlo Bay Casino. 

“We see it as a potential to develop a strategic long-term partnership with them,” Galaxy spokesman Peter Caveny told Bloomberg by telephone.

 

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