SBM, Monaco’s casino operator, has announced a joint venture with Galaxy Entertainment Group (GEG) to develop and operate a leisure complex in Japan.
Macau’s Galaxy has been a five percent stakeholder in SBM since 2015. The possibility of a joint project in Japan has come about since Japan’s Upper House passed enabling legislation in December, 2016.
SBM’s announcement of the project comes just 15 weeks after the legislation passed.
Galaxy President, Dr Lui Che Woo, commented: “Since opening our flagship Galaxy Macau facility in 2011, we have quickly earned a reputation for developing and operating some of the most incredible integrated resorts in the world, and together with SBM we look forward to creating hospitality and entertainment that our customers will enjoy in the years to come.”
Jean-Luc Biamonti, President and CEO of SBM, referred to “similarities in terms of business philosophy between SBM and GEG, a deep commitment to supporting the company’s employees, the local community, the environment, and maintaining the excellence of standards in line with SBM’s corporate values, both in the design of world-class resorts and in the proposed service.
SBM also welcomes the opportunity to increase the value of its international portfolio.
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