Galaxy Entertainment Group
|Traded as||SEHK: 0027|
|Founder||Lui Che Woo|
(Chairman & CEO)
|Products||Gambling, Hotels, Entertainment, Casinos, Resorts|
|Revenue||HK$51 billion (2015)|
|Website||Galaxy Entertainment Group|
Galaxy Entertainment Group ("GEG") (Chinese: 銀河娛樂集團 is a company listed on the Hong Kong Stock Exchange (SEHK: 00027) that owns and operates hotels and casinos in Macau through its subsidiary, Galaxy Casino S.A.
The Company, known formerly as K. Wah Construction Materials , disposed of its construction material business and became the only Hong Kong-listed company to hold an operating licence in Macao in 2005 by acquiring a 97.9 per cent stake in Galaxy Casino SA. The deal was described as like "a snake trying to swallow an elephant". Galaxy and Venetian Macao had originally planned to run their gaming license in Macao jointly, but the two had since split and decided to run their gaming business separately.
The company owns the following casinos and hotels in Macau:
- The StarWorld Macau on the Macau Peninsula
- CityClub casinos on the Macau Peninsula
- Waldo Casino
- President Casino
- Rio Casino
- Broadway Casino on the Cotai Strip
- The Galaxy Macau on the Cotai Strip.
The principal activities of Galaxy Entertainment and its subsidiaries are operation in casino games of chance or games of other forms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of construction materials in Hong Kong, Macau and Mainland China.
It operates in two segments: gaming and entertainment, and construction materials.
Galaxy Entertainment Group is ultimately controlled by the Lui Family of Hong Kong, which has a combined interest of 50.3%. This family has a direct interest of 8.6% in GEG and an indirect interest of 41.7% via the Lui Family Trust and Hong Kong listed K Wah International.