Monte Carlo casino group Société des Bains de Mer has agreed a formal strategic partnership with Macau-based operator Galaxy Entertainment Group to work together on the development and operation of Integrated Resort projects in the AsiaPacific region with the most obvious future project being the one in Japan.
The deal will also see the two companies mutually enhance the respective businesses and brands of each company.
The announcement comes 15 weeks after the Upper House of the Diet in Japan approved the ‘Bill Promoting Implementation of Specified Integrated Resort Areas’ paving the way for the future introduction of IR’s in the country. Noting the world-class, luxury, integrated resorts that GEG is renowned for in Asia, as well as the iconic, luxury prestige of SBM’s rich history in Monaco, His Excellency Mr. Serge Telle, State Minister of Monaco, during his recent visit to Macau and further to the Sovereign Prince decision, was pleased to confirm the Monaco Government’s endorsement of this strategic partnership, recognising the potential both companies provide to each other’s business portfolio and brand.
Galaxy Chairman, Dr. Lui Che Woo said: “We are honoured to be cooperating as a strategic partner with SBM, one of the most iconic, luxury, hospitality brands in the world. Since the opening of our flagship property Galaxy Macau in 2011, we have quickly gained a reputation for developing and operating some of the most spectacular Integrated Resorts in the world and together with SBM we look forward to creating even more premium hospitality and entertainment experiences for our customers to enjoy in the years ahead.”
SBM Chairman of the Board and Chief Executive Officer, Jean Luc Biamonti said: “We recognise the similarities in corporate philosophy between both S.B.M. and GEG. A deep added to supporting the company’s employees and the local community, the environment and maintaining the utmost quality in world-class resort design and service standards, which all echo SBM’s own corporate beliefs. GEG’s success in Asia will certainly be a valuable enhancement to SBM’s portfolio. With the recent passage of the Integrated Resort Promotion Bill in Japan in December 2016, both companies look forward to the possibility of collaborative efforts to design, develop and operate an IR in Japan that would offer the best of what both GEG and SB.M have to offer.