Galaxy Entertainment Sees Two Macau Satellite Casinos Close, Will Add Third
Posted on: June 17, 2022, 05:15h.
Last updated on: June 17, 2022, 03:08h.
Two satellite casinos operating under Galaxy Entertainment’s license shut their doors on Wednesday. Another could add its name to that list in the following days.
Macau will receive the final version of its updated gambling law within the next few weeks. Operators have known that, in addition to several changes, they would lose their relationship with satellite venues with the new measures.
As a result, the satellite segment began to diminish as venue operators threw in the towel. Galaxy confirmed with GGRAsia this week that the Rio Casino and the President Casino in the city’s downtown area are the latest to turn off the lights.
Diminishing Satellite Market
Galaxy, which operates its flagship Galaxy Macau property, Broadway, and the StarWorld Hotel in downtown Macau, held the respective service agreements for both casinos. It added that both venues are currently taking inventory.
On Thursday morning, both casinos displayed a notice to potential patrons. It directed them to Galaxy to redeem “chips” or slot machine tickets.
Galaxy stated Wednesday that its employees at the now-closed City Clubs would be “reallocated” to other casinos within the group, with all their employment terms remaining the same. The company will also provide them with various vocational training programs to help them adapt to their new work environment. This is in accordance with local laws.
Galaxy added that it is grateful for the support provided over the years by patrons and community members. It emphasized that the company is “fully committed to making positive contributions to Macau’s leisure and tourism industry.”
The government has rescinded a previous proposal that city satellite casino promoters tie ownership of their gaming floors to the next generation of gaming concessions coming in 2023. However, the legal update will require that third-party entities (management companies) be designated as the operators of satellite venues. In addition, they cannot enter into revenue-sharing agreements with gaming operations.
Another Satellite Could Call it Quits
Galaxy Entertainment reports these satellite venues as City Clubs. Apart from these properties, Galaxy also has a service agreement with Waldo Casino. This property is a short distance from Outer Harbour Ferry Terminal on the Macau peninsula.
The company told GGRAsia that it is discussing the current situation with the “related partner” at Waldo. This includes the future of Waldo Casino, a satellite venue of the Waldo Hotel and Casino in downtown Macau.
Galaxy didn’t name the partner. Instead, it said it would provide more details in the future “as and when appropriate.”
As reported by GGRAsia, TDM’s Portuguese-language radio station reported on Thursday that Waldo Casino would be closing at the end of June. These are in addition to satellites with relationships with other casino operators who already closed their doors.