Inside Asian Gaming

IAG JAPAN MAR 2019 26 COVER STORY MC: What’s Galaxy's thinking behind the partnership with SBM? FL: We think it is a win-win situation because SBM Monte Carlo wanted to re-invigorate their brand. Monte Carlo was the first integrated resort 150 years ago but somehow since then that glamor has been overtaken by Las Vegas, Macau and Singapore, so I think His Highness [Monaco’s Prince Albert II] felt it’s about time they do something to invigorate their brand and they were looking more into the Asian market. At the same time we were looking to the Japan market. The more we understood Japan, the more we felt Japanese and European culture are very similar, where they love sophisticated things, they love things that are well made, they love things to be so elegant. And that was why we felt that if we found a partner in Europe, that will enhance our chance of winning a precious license in Japan. MC: What about another partnership, the 4.9% stake in Wynn Resorts? FL: That was being opportunistic. When some of their shares were available, we took the opportunity to buy into a very well run gaming company. We took it as a passive investment. At the moment, this is a [very] early stage, so it’s a matter of getting to know the company better, to understand what they can do. MC: Does Galaxy need a US presence? FL: No. By market cap, we’re already the second biggest [gaming company] in the world, and we built that in a short 15 years. We feel that we already have a very stable and capable management team, and we feel very, very confident with the talent we have now, with the capability we have now both in execution capability and financially, we should be able to take on any opportunities. MC: How about a US stock market listing for Galaxy? FL: It’s not something that is in our mind at the moment. MC: What makes Galaxy the best choice for Japan? FL: We like to say that we’re bringing the best of Asia and the best of Europe into Japan. If we could also find a strong Japanese partner, we think we would be able to showcase to the Japanese government and the people of Japan that we would be able to bring the best of three worlds together. We feel confident about that. In addition, we are the biggest in Macau and with Japan