{"id":4733,"date":"2023-06-05T05:50:14","date_gmt":"2023-06-05T05:50:14","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/06\/05\/galaxy-entertainment-group-and-mgm-resorts-eye-thailand-for-casino-resort-development\/"},"modified":"2023-06-05T05:50:14","modified_gmt":"2023-06-05T05:50:14","slug":"galaxy-entertainment-group-and-mgm-resorts-eye-thailand-for-casino-resort-development","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/06\/05\/galaxy-entertainment-group-and-mgm-resorts-eye-thailand-for-casino-resort-development\/","title":{"rendered":"Galaxy Entertainment Group and MGM Resorts Eye Thailand for Casino Resort Development"},"content":{"rendered":"<div>\n<p>To offset the difficult prospects in Macau, casino owners Galaxy Entertainment Group and MGM Resorts International are reportedly considering expanding into new regions, namely Thailand. According to reports, Galaxy, founded by billionaire Lui Che-woo, is looking into gaming potential in the United Arab Emirates (UAE). These prospective changes come as operators voice fears about Macau\u2019s future, owing to China\u2019s demand for the enclave to shift its focus away from gambling and towards entertainment, as well as heightened monitoring on gaming activities.<\/p>\n<h3>Casino stocks benefit from a positive market reaction<\/h3>\n<p>The news of possible expansion into new areas has boosted the stocks of both casino companies. In Hong Kong trade, Galaxy\u2019s shares increased by up to 5.3%, while MGM China, a subsidiary of MGM Resorts, increased by more than 6%. This increasing trend also contributed to a 5% increase in Bloomberg Intelligence\u2019s index of Macau casino operator shares.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow noopener\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Welcome Bonus &#8211; 350% bonus on your first deposit up to 5BTC\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3>Concerns Regarding Macau\u2019s Future<\/h3>\n<p>The decision to look into alternate markets underscores the operators\u2019 concerns about Macau\u2019s future. Although China\u2019s post-pandemic reopening has resulted in a spike in tourism and a recovery of gaming revenue to about 60% of pre-Covid levels in May, the expected boom may wane as pent-up demand recedes and more Chinese tourists travel abroad. Furthermore, it is believed that it will take years for Macau to build alternative attractions and non-gaming events capable of matching the cash earned by VIP gamblers, who formerly accounted for a sizable share of overall gaming revenue.<\/p>\n<h3>Thailand and the UAE are both profitable markets<\/h3>\n<p>With the possibility of casino legalization in Thailand and the United Arab Emirates in the future years, operators are eager to obtain a competitive advantage in these expanding markets. If legalization occurs, Thailand, a major tourist destination, particularly among Asian travelers, has the potential to generate enormous gaming revenue. According to Bloomberg Intelligence analyst Angela Hanlee, the UAE could become a lucrative industry, potentially exceeding Singapore\u2019s renowned Marina Bay Sands resort in terms of gaming revenue and producing up to $6.6 billion yearly.<\/p>\n<h3>Galaxy and MGM Expanding Their Presence in New Markets<\/h3>\n<p>According to sources, Galaxy has already established offices in Thailand and the UAE to promote its Macau activities while gathering vital on-the-ground information. Similarly, <a href=\"https:\/\/igaming.org\/casino-news\/leovegas-welcomes-betmgm-607-takeover-bid\/\">MGM<\/a>, which is planning to oversee an entertainment complex in Dubai, has apparently developed a foothold in Thailand and is working with a Thai parliamentary committee investigating casino legalisation. The House of Representatives approved the committee\u2019s proposal for the building of multiple casino resorts in January.<\/p>\n<h3>Financial Strength and Regulatory Changes<\/h3>\n<p>While admission into these new markets is predicated on legal restrictions being lifted, the sector anticipates regulatory reforms in the near future. Thailand\u2019s casino resort project has received bipartisan backing, and the next administration is largely likely to accept it. Early negotiations on legalizing gaming have taken place in the UAE, and operators have met with authorities informally. Despite the fact that senior government officials have declared that there are no imminent plans to authorize gambling, industry insiders expect that more advancements will occur in the following months.<\/p>\n<p>Galaxy and MGM are both financially well-positioned for growth. Galaxy\u2019s conservative financing strategy and MGM\u2019s asset-light model, which involves selling properties and then leasing them back, have improved their cash situations. Furthermore, Las Vegas Sands Corp. has already expressed interest in Thailand, demonstrating the industry\u2019s determination to capitalize on the country\u2019s potential market.<\/p>\n<h3>Exciting Opportunities on the Horizon<\/h3>\n<p>As Galaxy Entertainment Group and MGM Resorts International look to establish casino resorts in Thailand, they hope to navigate the changing landscape of the global gambling industry. With Macau experiencing difficulties, operators can diversify their business and safeguard future growth by exploring other markets. While the future of international casino operations is dependent on regulatory changes and market dynamics, the attraction of unexplored prospects promises an exciting chapter in the domain of international casino enterprises.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow noopener\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Welcome Bonus &#8211; 350% bonus on your first deposit up to 5BTC\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/galaxy-entertainment-group-and-mgm-resorts-eye-thailand-for-casino-resort-development\/\">Galaxy Entertainment Group and MGM Resorts Eye Thailand for Casino Resort Development<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>To offset the difficult prospects in Macau, casino owners Galaxy Entertainment Group and MGM Resorts International are reportedly considering expanding into new regions, namely Thailand. According to reports, Galaxy, founded by billionaire Lui Che-woo, is looking into gaming potential in the United Arab Emirates (UAE). These prospective changes come as operators voice fears about Macau\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-4733","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=4733"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4733\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=4733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=4733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=4733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}