Strategic
Partnership between
Monte-Carlo Société des Bains de Mer
and
Galaxy Entertainment Group
Monaco and Hong
Kong, 29th March
2017 - Monte-Carlo Société des Bains de Mer ("S.B.M."), world
renowned owner and operator of iconic luxury hotels and resorts in
the Principality of Monaco, and Galaxy Entertainment Group ("GEG"),
one of Asia's leading developers and operators of world-class,
luxury, integrated entertainment and resort facilities, announce
today the formal establishment of a strategic partnership.
This partnership includes a mutual
commitment to enhance the respective businesses and brands of each
company and to work together on the development and operation of
entertainment businesses including Integrated Resort ("IR")
projects in the Asia-Pacific region. The announcement of this
agreement follows a strategic investment made by GEG in S.B.M. in
July 2015.
On the occasion of a meeting in
presence of H.S.H. Prince Albert II of Monaco, Dr. Lui Che Woo, Mr.
Francis Lui and Mr. Michael Mecca, respectively Chairman, Vice
Chairman and President of GEG, Prince Albert II reiterated His full
support for the objectives of the Strategic Partnership (signed on
July 24th 2015) between Monte-Carlo Société des Bains de Mer
(S.B.M.) and Galaxy Entertainment Group (GEG) to work together on
several opportunities including future projects throughout the
Asia-Pacific region.
The announcement by GEG and S.B.M.
comes 15 weeks after the Upper House of the Diet in Japan approved
the "Bill Promoting Implementation of Specified Integrated Resort
Areas" (or the Integrated Resorts Promotion Bill for short) -
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 S.B.M.'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 - recognizing the potential both companies
provide to each other's business portfolio and brand.
Both GEG Chairman, Dr. Lui Che Woo and S.B.M. Chairman of the Board
and Chief Executive Officer, Mr. Jean-Luc Biamonti, also reiterated
their mutual commitment to their collaborative efforts.
"We are honored to be cooperating
as a strategic partner with S.B.M. - one of the most iconic,
luxury, hospitality brands in the world," said GEG Chairman, Dr.
Lui Che Woo. "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 S.B.M. we look forward to creating even
more premium hospitality and entertainment experiences for our
customers to enjoy in the years ahead."
Commenting on the strategic
partnership, S.B.M. Chairman of the Board and Chief Executive
Officer, Mr. Jean-Luc Biamonti said: "We recognize the similarities
in corporate philosophy between both S.B.M. and GEG. A deep
commitment 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
S.B.M.'s own corporate beliefs. GEG's success in Asia will
certainly be a valuable enhancement to S.B.M.'s portfolio," he
continued.
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 S.B.M. have to offer.
More news on developments from
these two global, iconic, luxury resort and entertainment companies
to come.
- end -
For Media
Enquiries:
Monte-Carlo Société des Bains de Mer
Mr. Jean-Louis Masurel - Director Monte-Carlo S.B.M.
International
Tel: +377 98 06 61 02
Email: pr@sbm.mc
Galaxy Entertainment Group -
Investor Relations
Mr. Peter Caveny / Ms. Yoko Ku / Ms. Joyce Fung
Tel: +(852) 3150 1111
Email: ir@galaxyentertainment.com
Mr. Jeremy Walker - Vice
President, Marketing, International Development
Tel: +(853) 2888 0888
Email: jeremy.walker@galaxyentertainment.com
For images:
http://www.galaxymacaulibrary.com/gallery/SBM-GEG-Partnership/G0000h1Pg8ezeKvg
Password: monaco
About Monte-Carlo Société des Bains de Mer
(code ISIN MC0000031187 - BAIN)
A major player in luxury tourism in Europe, Monte-Carlo Société des
Bains de Mer owns the most prestigious venues in Monaco: 4 casinos,
including the legendary Casino de Monte-Carlo, 4 hotels (Hôtel de
Paris Monte-Carlo, Hôtel Hermitage Monte-Carlo, Monte-Carlo Beach,
Monte-Carlo Bay Hotel & Resort), and 33 restaurants including 4
awarded 6 prestigious Michelin stars between them. 150 years of
history have shaped the soul of this legendary resort and built up
an image of excellence and a global reputation in gambling and
entertainment, haute cuisine and prestigious hotels, luxury
shopping, wellness and real estate. Monte-Carlo Société des Bains
de Mer, guardian of its historical role in the state's economic,
social and cultural development, will reveal in December 2018 the
splendid renovation of Hôtel de Paris Monte-Carlo. The Group is
also taking the lead on creating a new One Monte Carlo district,
which will be completed in 2019 with 7 new buildings for
residences, offices, conference rooms, restaurants and shops.
Monte-Carlo Société Bains de Mer is also one of the key partners of
major events in Monaco such as the Formula 1 Grand Prix and the
Monte-Carlo Rolex Masters. The Group currently has over 4100
employees and recorded a turnover of 461.4 million euros for the
financial year 2015-2016. For more information about the Group,
please visit www.montecarlosbm.com
About Galaxy Entertainment Group
(HKEx stock code: 27)
Galaxy Entertainment Group Limited
("GEG" or the "Group") is one of the world's leading hospitality
and gaming companies. It primarily develops and operates hotels,
gaming and integrated resort facilities in Macau. The Group is
listed on the Hong Kong Stock Exchange and is a member of the Hang
Seng Index. GEG is one of the six gaming concessionaires in
Macau with a track record of delivering innovative, spectacular and
industry leading properties, products and services, underpinned by
a "World Class, Asian Heart" service philosophy, that has enabled
it to consistently outperform the wider market. GEG operates
three flagship venues in Macau: on Cotai, Galaxy Macau(TM), one of
the world's largest integrated destination resorts, and the
adjoining Broadway Macau(TM), a new hotel, entertainment and retail
landmark destination; and on the Peninsula, StarWorld Macau, an
award winning high end property. The Group has the largest
development pipeline of any concessionaire in Macau. When Phases 3
& 4 of its Cotai landbank are completed, GEG's footprint on
Cotai will double to more than 2 million square meters. GEG has
also entered into a framework agreement to develop a low rise, low
density world class destination resort on a 2.7 square kilometer
land parcel on Hengqin adjacent to Macau. This resort will
complement GEG's offer in Macau, differentiate it from its peers
and support Macau in its vision to become a World Centre of Tourism
and Leisure. Additionally, GEG continues to explore
international development opportunities. GEG is committed to
delivering unique 'World Class, Asian Heart' holiday experiences to
its guests and building a sustainable future for the communities in
which it does business. For more information about the Group,
please visit www.galaxyentertainment.com
BAINS DE MER : Strategic
partnership between S.B.M. and GEG
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BAINS DE MER MONACO via Globenewswire
Bains de Mer Monaco (EU:BAIN)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Bains de Mer Monaco (EU:BAIN)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024