Raffles Extends Galaxy Macau Winning Streak

Raffles at Galaxy Macau, expected to open in the second half of this year as part of the resort’s Phase 3 expansion.

Forbes Asia coverage of Hong Kong’s Richest emphasized that non-gaming revenue helped boost Galaxy Entertainment Group in 2020 and that bodes well for the future of the Macau casino operator controlled by Lui Che Woo and family. This month, Galaxy announced its Phase 3 expansion will feature a Raffles Hotel, scheduled to open in the second half of this year at its flagship Galaxy Macau.

“The Raffles brand and heritage is perfectly complementary to our strategy of delivering greater, elevated experiences, and true to our ‘World Class, Asian Heart’ mantra,” Galaxy vice chairman Francis Lui, who runs the business on behalf of father, says. Galaxy has been especially adept at landing Asian brands not yet present in the Hong Kong-Macau tourist area, starting with Okura and Banyan Tree in Galaxy Macau’s first phase.

The iconic Raffles brand in a spectacular architectural package fits Lui’s vision of making Galaxy Macau a travel destination with gaming, not just a casino. That vision coincides with Beijing’s goal to create a “world center for tourism and leisure” in Macau. With casino concessions due to expire next year, that convergence also bodes well for Galaxy’s future.

Former US diplomat and broadcast news producer Muhammad Cohen is a contributor to Forbes and Inside Asian Gaming, columnist/correspondent for Asia Times, and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau casinos face long road to recovery

China’s national day holiday brought little joy to Macau. Despite eased travel restrictions, Macau faces a slow recovery from Covid-19, with gaming revenue barely reaching 15% of 2019 levels. An amorphous threat from Beijing to “blacklist” overseas casino destinations further clouds the regional gambling outlook.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is editor at large for Inside Asian Gaming, a contributor to Forbes, columnist/correspondent for Asia Times, and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Stanley Ho’s Macau streak ran five decades

Inside Asian Gaming commemorates Stanley Ho, whose mastery of Macau spanned two centuries. Initially considered a bit player in the all-star cast that won Macau’s casino license in 1962, Ho passed away last month at age 98.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a editor at large for Inside Asian Gaming, contributor to Forbes, columnist/correspondent for Asia Times, and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau goes green

Beyond the virus headlines, integrated resorts in Macau are investing substantial resources to deliver sustainable luxury, as customers and government show greater in interest in environmental issues.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a editor at large for Inside Asian Gaming, contributor to Forbes, columnist/correpsondent for Asia Times, and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Hong Kong protests put Macau, Beijing on edge

Even though there’s little direct impact on tourism and gaming numbers, continuing Hong Kong protests make Beijing and Macau nervous. The world’s largest casino hub relies on mainland China for the vast majority of player revenue, and Beijing decisions regarding Hong Kong will make waves in Macau.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau March revenue falls, and investors love it

Casino shares rallied in the US and Hong Kong after Macau reported gaming revenue fell 0.4% in March, beating expectations of a much worse showing. But the real story remains behind the numbers.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Big trends loom behind Macau casino figures

After falling in January, Macau casino revenue rose in February but was down for the larger Chinese New Year period. Behind those headlines, there two big trends lurk.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau casino revenue fall ‘not THAT bad’

JPMorgan analyst DS Kim says Macau’s 5% fall in casino revenue in January was “not THAT bad,” and he’s right for several reasons.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Investors misunderstand Macau transition

Every year, I make forecasts about Asian gaming for the year ahead. For 2019, I’m offering predictions about Macau, Japan, online gaming, Korea and Vietnam. And as the year wraps up, I check the accuracy of those forecasts.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Investors discount Macau’s healthy transition

After long relying on VIP players, Macau casinos are moving toward the more stable mass market segment. That’s progress investors should applaud, not punish.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.