Monday, August 08, 2022

HK-Zhuhai-Macau bridge will transform gaming industry: Lui


The planned Hong Kong-Zhuhai-Macau bridge will “transform” the Macau gaming and tourist industry, says Galaxy Entertainment Group chairman Lui Che-woo.

“Macau’s hospitality market will see a new phase of development when the bridge starts operating,” he said during an interview with South China Morning Post.

Lui added the gaming firm will focus on non-gaming activities, as the region sees more visitors staying for longer.

While demand from mainland VIP gamblers weakened since Beijing’s corruption crackdown, Lui remained upbeat about Macau’s gaming revenue, particularly after the latest July figures.

Macau gross gaming revenue was MOP 17.8 billion (US$2.2 billion) in July, a 4.5 percent decline year-on-year, according to the Gaming Inspection and Coordination Bureau.

The result was better than consensus estimates.

Galaxy is due to announce its second quarter results later this month, and said plans for its Galaxy Macau phase three development were progressing well. The new phase is expected to be more focused on non-gaming attractions.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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