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Francis Lui will occupy the position left by his late father, Lui Che Woo.
Macau.- Galaxy Entertainment Group (GEG) announced today (December 13) that Francis Lui Yiu Tung has been appointed chairman of the board. He succeeds his father, Lui Che Woo, the founder and chairman of GEG, who died on November 7 at the age of 95.
Lui will resign from his role as deputy chairman, which he was appointed to in February 1997.
GEG said: “The board would like to express its warm welcome to Mr Lui on his appointment as the chairman of the board and believes his leadership will continue to bring satisfying benefits and positive impacts on the development of the group’s businesses.”
Lui was survived by his spouse, Lui Chiu Kam Ping, and their five children: Francis, Lawrence Lui Yiu Nam, Alexander Lui Yiu Wah, Paddy Tang Lui Wai Yu and Eileen Lui Wai Ling. Paddy also holds a position on the company’s board. Meanwhile, Eileen is the director of human resources and administration.
Galaxy Entertainment Group net revenue up 11% in Q3
For the third quarter of the year, GEG’s net revenue was HK$10.7bn (US$1.38bn), up 11 per cent in year-on-year terms but down 2 per cent sequentially. The company posted adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HK$$2.94bn (US$378m), a rise of 6 per cent when compared to last year but down 7 per cent in quarter-on-quarter terms.
Gross gaming revenue (GGR) was HK$10.2bn (US$1.31m), up 16 per cent year-on-year but down 2 per cent quarter-on-quarter. Mass table win was HK$8.39bn (US$1.08bn), rolling chip win was HK$1.10bn (US$141m) and electronic gaming win was HK$666m (US$86m).
Galaxy Macau’s net revenue was up 10 per cent year-on-year but down 3 per cent sequentially at HK$8.4bn (US$1.11bn). Gaming revenue was HK$6.9bn (US$911m), down 6.38 per cent sequentially but up 10.40 per cent year-on-year. Non-gaming revenue was HK$1.47bn (US$189m) while adjusted EBITDA was HK$2.56bn (US$329m), flat year-on-year and down 8 per cent quarter-on-quarter.
Francis Lui will occupy the position left by his late father, Lui Che Woo. Macau.- Galaxy Entertainment Group (GEG) announced today (December 13) that Francis Lui Yiu Tung has been…
