Even if the Japanese central government makes major changes to the IR schedule, the company still intends to participate in the bidding
Lui Che Woo, chairman of Galaxy Entertainment Group, said that even if the Japanese central government makes major changes to the integrated resort (IR) schedule, his company still intends to participate in the IR bidding in Japan.
Lui Che Woo’s comments at the Galaxy Entertainment Group’s second quarter 2020 performance conference on Thursday are highly valued, as many major international operators have made the opposite decision in recent months.
Among them Las Vegas Sands Corp.'s complete withdrawal from Japan in May is the most discussed. Wynn Resort has also closed its office in Yokohama. The only competitor is Osaka at present, MGM Resorts International also showed a hesitant attitude for the first time in the company's second quarter financial meeting.
"We understand that Japan's timetable may be affected by the global COVID-19 pandemic, but we can make adjustments according to the situation and will continue to explore development plans in Japan." Lui said.
"We see Japan as an ideal opportunity for long-term development, which can complement our business in Macau and other overseas development plans. GEG and Monaco’s "MonteCarlo Société des Bains de Mer" and our Japanese partners are looking forward to bringing us Brought the world-class integrated resort brand to Japan."
GEG has always been famous for its strategy of retaining strong cash flow instead of piling up debts. The company has become two companies in Macau that do not need to use loan to maintain liquidity amid COVID-19 crisis.
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