• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Monaco-Galaxy bid for Japan casino likely: executives

May 11, 2018 Newsdesk Japan, Japan Gaming Congress 2018, Latest News  


Monaco-Galaxy bid for Japan casino likely: executives

The European partner of Macau casino operator Galaxy Entertainment Group Ltd has given GGRAsia some insight into the thinking behind the likely joint push for a Japan casino licence.

In July 2015 it had been announced that Galaxy Entertainment had paid EUR40 million (US$47.7 million) for a 5-percent stake in Monaco casino firm Société des Bains de Mer et du Cercle des Étrangers à Monaco, also known as SBM.

On Friday at the Japan Gaming Congress in Tokyo – a casino industry event to discuss the nascent Japanese sector – we spoke on the sidelines to Jean-Louis Masurel (pictured left), managing director of the Monegasque firm’s overseas development arm, Monte-Carlo SBM International Sarl; and to Michael Mecca (pictured right), Galaxy Entertainment director and advisor to the board, about the tie-up.

“We wanted to expand in Asia, and we decided it would be stupid to try and do it alone,” Mr Masurel said.

“It wouldn’t make sense if we had neither the human nor financial resources to do so. So that’s why we wanted to have a partner,” he added.

Referring to Galaxy Entertainment, he further stated: “We were very pleased to find one of the strongest partners of all, both from a management point of view and a financial point of view.”

Mr Masurel then made reference to the Grimaldi family, the hereditary rulers of Monaco, a tiny but upmarket principality surrounded by French territory, and which is on the north coast of the Mediterranean Sea.

“We wanted a long-term relationship, and the fact it [Galaxy Entertainment] is controlled by a family – as we are controlled – through the [Monaco] government by a family, which is the Prince [Albert], was a good fit,” said Mr Masurel.

The executive said: “We knew whatever we could do together [with Galaxy Entertainment] we could build it for the long term. It’s not a three-year or five-year agreement. When we signed the cooperative agreement, it’s for eight years, renewable for eight years and then for periods ad vitam.”

He added: “Obviously, they are the leading partner, by definition. They are the ones who have the expertise [in core markets]; who have the legwork; who have the knowledge. Whatever they decide to do, we will look at it, and if we feel that it’s within our means, within our interest, we will do it together.”

Mr Masurel stated: “It’s highly likely that we will do it, but we are not compelled to do it. It’s an association of free partners.”

Japan team

GGRAsia asked Mr Mecca whether the cordial relationship between members of the Lui family – Hong Kong entrepreneurs who founded Galaxy Entertainment – and the Chinese government, might hinder the firm’s chances of getting a Japan gaming licence. Relations between China and Japan have been strained at times in recent years, over issues including claims to certain islands in the region.

“From a geopolitical point of view, we feel the two countries are working more closely together,” said Mr Mecca.

According to the website of Galaxy Entertainment’s progenitor, K. Wah Group Ltd, the casino firm’s chairman and founder Lui Che Woo was a member of the 9th National Committee of the Chinese People’s Political Consultative Conference, an advisory body to the Chinese government. The same website lists his son and Galaxy Entertainment deputy chairman, Francis Lui Yiu Tung, as a member of the National Committee of the Chinese People’s Political Consultative Conference.

Regarding the recent strengthening of the Japan team, including the hiring of Ted Chan as chief operating officer for Japan, Mr Mecca said: “Over the last several years we have been evolving our team.”

He added: “We started several years ago, forming an association with one of the most significant hoteliers in Japan, Mike [Yukio] Isa, who had been 35 years with Hyatt [Japan K.K.]. Mike has done a very very good job introducing the brand of Galaxy, and all of us, to business leaders and officials in Japan.”

Mr Mecca noted: “Having Ted [Chan] move to Japan, to become our chief operating officer of Japan development… was part of the move toward the development phase [of the sector].”

Other appointments mentioned in a Wednesday press announcement were James Takagi as head of commercial, Ayumi Takagi as head of planning and media relations, and Satoshi Okabe, a former executive at Japanese media group Dentsu Inc, as general manager.


  • tweet
Related articles
  • Osaka gets 7-strong committee to select casino IR partner
    Osaka gets 7-strong committee to select...

    Dec 13, 2019  

  • No plans for Boracay land once tagged for casino: LRWC
    No plans for Boracay land once tagged...

    Dec 10, 2019  

More news
  • Macau op non-gaming contribution little changed in 2018
    Macau op non-gaming contribution little...

    Dec 16, 2019  

  • 2H to help Macau 2020 GGR to grow circa 4pct: DB
    2H to help Macau 2020 GGR to grow circa...

    Dec 16, 2019  


Latest News

Macau op non-gaming contribution little changed in 2018

Macau op non-gaming contribution little changed in 2018

Dec 16, 2019  

Macau’s six casino concessionaires have seen a double-digit percentage increase year-on-year in their “receipts” – i.e. income – from non-gaming activities in 2018. But the...
Read More
2H to help Macau 2020 GGR to grow circa 4pct: DB

2H to help Macau 2020 GGR to grow circa 4pct: DB

Dec 16, 2019  

Interviews

  • Incheon seeks to expand casino cluster to counter Japan
    Incheon seeks to expand casino cluster to counter Japan

    Dec 11, 2019  

    The Incheon Free Economic Zone (IFEZ) Authority in South...
  • Suncity Manila casino not a threat: Travellers EVP
    Suncity Manila casino not a threat: Travellers EVP

    Dec 09, 2019  

    Macau junket brand Suncity’s move toward being a casino...
  • Nagasaki fully backs Sasebo IR location: vice governor
    Nagasaki fully backs Sasebo IR location: vice governor

    Nov 06, 2019  

    A senior official of Japan’s Nagasaki prefecture has...
  • NagaCorp open to new development opportunities: chairman
    NagaCorp open to new development opportunities: chairman

    Jul 15, 2019  

    Hong Kong-listed casino operator and developer NagaCorp Ltd...
  • Casino logistics provider TKHS aims for global footprint
    Casino logistics provider TKHS aims for global footprint

    Jul 12, 2019  

    Asia-based casino logistics provider TKHS Group has plans...

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We believe the positive stance from China towards Macau would help market sentiment in the near term despite limited short term benefit to the [casino] gross gaming revenue”

Kenneth Fong, Lok Kan Chan and Rebecca Law

Analysts at Credit Suisse



Most Popular

  • Osaka gets 7-strong committee to select casino IR partnerOsaka gets 7-strong committee to select casino IR partner December 13, 2019
  • Beijing goodies limited near-term benefit to Macau: CSBeijing goodies limited near-term benefit to Macau: CS December 16, 2019
  • Osaka thinks delay to 2026 for casino realistic: reportsOsaka thinks delay to 2026 for casino realistic: reports December 16, 2019
  • Okada Manila slots GGR outstrips mass tables in NovemberOkada Manila slots GGR outstrips mass tables in November December 13, 2019
  • New Hengqin crossing to Macau in use soon: mainlandNew Hengqin crossing to Macau in use soon: mainland December 12, 2019
Copyright 2014-2019 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us