Dr. Lui Che Woo, aged 86, is the founder of the Galaxy Enttertainment Group, has been a Director of the Company since August 1991 and is the Chairman and a member of the Executive Board of the Company.Dr. Lui is also the Chairman and the Managing Director of K. Wah International Holdings Limited. He has over 50 years’ experience in quarrying, construction materials and property development. He was the Founding Chairman of the Institute of Quarrying in the UK (Hong Kong Branch) and the Chairman of the Tung Wah Group of Hospitals.Dr. Lui is also the Founding Chairman of The Federation of Hong Kong Hotel Owners, the President of Tsim Sha Tsui East Property Developers Association, the Founding President of Hong Kong — Guangdong Economic Development Association and an Honorary President of Hong Kong — Shanghai Economic Development Association. Dr. Lui has been appointed as a Member of Steering Committee on MICE (Meetings, Incentives, Conventions and Exhibitions) since 2007.Lui is the father of Mr. Francis Lui Yiu Tung and Ms. Paddy Tang Lui Wai Yu.
Galaxy Entertainment said it expects further headwinds from the Covid-19 pandemic after reporting a Q2 loss, but said it remains committed to its expansion plans and its pursuit of a license in Japan.
Galaxy Entertainment released its 20Q1 financial statement on Wednesday revealing the anticipated economic impact of Covid-19, including a 93 percent year-on-year fall in EBITDA. Adjusted EBITDA was HK$283 million (US$36.8 million) for the quarter, while net revenues were HK$5.1 billion, down 61 percent year-on-year. Chairman Lui Che Woo commented, “Q1 2020 has been a very […]
Lui Che Woo, chairman of Galaxy Entertainment, says he is “very confident” that his company’s project on Boracay will go ahead, despite Philippine president Duterte’s insistence that no casinos will be built on the island. Speaking in a CNBC Interview, which aired on Monday, Dr. Lui said that when Galaxy first indicated their interest to […]
Galaxy Entertainment Group (GEG) delivered record performance in the first half of 2018, driven by strong mass, VIP and operational execution, although the results were in line with market expectations. Group net revenue reached HK$28.1 billion in the six months ended June 30, up 25 percent year-on-year, while net profit rose 56 percent year-on-year to […]
Galaxy Entertainment founder and Chairman Lui Che-Woo said his company has no plans to increase its 4.9 percent stake in Wynn Resorts, damping speculation it may have been planning a full takeover.
President Rodrigo Duterte, who earlier this week denied knowledge of plans for a casino on Boracay, in December met with officials from Galaxy Entertainment Group to discuss the project, local media reports. According to ABS-CBN news, a press release from the President Communications Operations Office showed the meeting was held on Dec. 6th. “Galaxy Entertainment, […]
Sheldon Adelson featured in 21st position in Forbes annual ranking of the world’s billionaires, coming far ahead of other casino moguls. Adelson, founder and CEO of Las Vegas Sands, had a fortune of $38.5 billion as of March 6th. Forbes notes Adelson is the son of immigrants from Lithuania and Wales and grew up sleeping […]
Macau casino operator Galaxy Entertainment reported third quarter results mostly in-line with analyst estimates, with adjusted EBITDA reaching HK$3.5 billion and revenue of HK$15.9 billion. Galaxy Entertainment on Thursday posted revenue growth of 23 percent year-on-year in the quarter, while adjusted EBITDA grew 31 percent year-on-year. Galaxy however said that bad luck in gaming operations […]
Galaxy Entertainment Group (GEG) posted an 81 percent rise in net profit for the first half of the year due to the rebound in VIP and mass revenue. Net profit for the half year reached HK$4.6 billion (US$587.8 million), while revenue increased 12 percent year-on-year to HK$28.5 billion. The group’s total gaming revenue increased 9 […]
Macau casino operator Galaxy Entertainment Group saw first quarter revenue increase 5 percent year-on-year to $14.1 billion, according to the company’s filing to the Hong Kong Stock Exchange on Thursday. Q1 group adjusted EBITDA increased 31 percent year-on-year to $3.2 billion, up 7 percent quarter-on-quarter, higher than anlayst expectations. Adjusted EBITDA over the last 12 […]
Galaxy Entertainment chairman Lui Che Woo says it’s still too early to make the call that Macau is on the road to recovery. “While Macau’s gambling industry has hit the bottom, it’s still too early to call it a recovery,” said Lui, in an interview with Bloomberg. “Give me two more years to see. It […]
Galaxy Entertainment Group Ltd has reported first half profit up 26 percent year-on-year, citing a rise in non-gaming revenue and casino market share as a result of new resort openings. According to a filing to the Hong Kong Stock Exchange on Thursday, the casino operator reported net profit of HK$2.6 billion ($335.31 million) for the […]
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, […]
Galaxy Entertainment chairman Lui Che-woo says Macau’s gaming market has bottomed out, after close to two years of continuous decline, reports SCMP. “The [revenues] from the beginning of this year until now have not continued to drop sharply and have stabilised,” said Lui after the company’s AGM. “I believe this means we can say [the […]
Macau casino operator Galaxy Entertainment Group has reported solid results for 16Q1, according to unaudited 2016 first quarter financial data released on Wednesday. The Group posted quarterly revenue of HK$13.4 billion (US$1.7 billion), up 1 percent sequentially and down 2 percent year on year. Adjusted EBITDA was HK$2.4 billion, down 2 percent sequentially and up […]
Chairman of Galaxy Entertainment Group Limited, Lui Che Woo, said he anticipates better results from the mass gaming segments starting in February, 2016, Hong Kong media reports. During the 60th anniversary of K. Wah Group on Thursday Dec. 10, the chairman said he believed the city’s drop in gaming earnings is bottoming out, and added […]
Gambling at Galaxy’s recent expansion has been weaker than expected, chairman Lui Che Woo told reporters in Hong Kong after the company’s annual general meeting. According to Bloomberg, business at Galaxy Phase II, which opened last month as the first new casino projects in three years, “is satisfactory, but not as good as what we […]
With the construction of a theme park on the cards for Galaxy Macau, could this form of family friendly entertainment prove crucial in enticing mass-market tourists in their droves? A natural byproduct of China’s burgeoning middle class has been more discretionary money to spend. Research from the Boston Consulting Group predicts that China’s consumer economy will expand by about half, to $6.5 trillion, by 2020 with services overtaking goods as the chief engine for spending. The booming theme-park market is likely to be a key beneficiary, but could it drive traffic to Macau?