As Macau emerges from the shadows of COVID-19 restrictions and the decline of its pre-pandemic junket system, a noticeable shift in the tourism narrative has taken place. Authorities in Macau are working towards establishing the city as a global destination that relies less on gaming. Among the prominent figures advocating for this change is Francis Lui, the chairman of Galaxy Entertainment Group. He highlights a dual approach, termed a "parallel strategy," which involves simultaneous development of premium gaming along with a broadened array of non-gaming attractions.
In an exclusive interview, Lui stresses the importance of sustainability. "The vision in Macau is that it has to be sustainable, and you don’t want to bet on just pure gaming," he explains. He acknowledges Macau's unique status as China’s only legal casino hub and points out the vast potential of its mainland market. "Under-penetration is humongous," he states. Galaxy’s efforts, he believes, are aligned with government objectives—striving for economic value and social responsibility among the gaming operators.
Looking ahead, Lui sees the Galaxy Macau Phase 3 as a concrete response to government aspirations for the city. "We sensed it a few years back, and then we decided that Phase 3 is going to match that vision," he shares. The new phase incorporates state-of-the-art facilities for meetings, incentives, conventions, and exhibitions (MICE) as well as an arena designed to compete with offerings in regional cities like Hong Kong and Singapore.
The Galaxy International Convention Center and Galaxy Arena, opened in 2023, provide an impressive combined space of 10,000 square meters (108,000 square feet) with the capability to host 16,000 visitors, marking it as Macau's largest indoor venue. Lui expresses pride in the project, reflecting on its contribution to the region's entertainment and sports scene.
In addition to the convention center and arena, two luxury hotels—Raffles and Capella—have been built as part of Phase 3. "We felt the customer base has now changed to a more multi-experiential demand," Lui says, noting that both hotels offer premium gaming experiences alongside exclusive non-gaming amenities such as fine dining, spas, and entertainment options.
Galaxy Macau currently features around 5,000 guest rooms from various hotel brands, a wide array of dining choices, and a vast gaming area. The group continues to be one of the top competitors in Macau's gaming market, with its EBITDA exceeding US$1.8 billion last year, just shy of the US$2.1 billion reported in 2019.
The company is already laying the groundwork for Phase 4, which is set to open next year and will include more luxury hotel brands, a 5,000-seat theater, and additional retail and dining spaces. Lui estimates that total investments for Galaxy Macau will reach HK$100 billion (US$12.75 billion) with this expansion.
Lui notes that the development phases allow Galaxy to monitor shifts in consumer preferences while keeping pace with evolving market demands. The original plan for Phase 4 included up to 2,500 hotel rooms, but a strategic pivot to focus on more exclusive offerings has led to a revised plan for only 1,500 rooms.
He acknowledges a tension between the premium segments and the government's goal of expanding Macau’s appeal to a broader tourist demographic. "We should go ahead and have government support to build more hotel rooms for family and business travelers,” Lui proposes, emphasizing the need to meet diverse visitor needs.
Amid the optimism surrounding Hengqin, a neighboring island, Lui discusses its potential for development. Though Galaxy no longer holds options on land there, he recognizes the advantages of cheaper costs and infrastructure potential on the island. The seamless connection from Hengqin to Macau could enhance visitor experiences, allowing easier access between the two.
Looking forward, Lui is inspired by experiences gleaned from his travels, including visits to innovative attractions in Las Vegas and London. He emphasizes that Macau must embrace technological advancements in entertainment to remain competitive and sustain growth.
Phase 4 will also see Galaxy transforming its StarWorld property from a VIP-centric model to cater more to the mass market. Lui’s focus remains firmly on Macau, even as he explores opportunities in emerging markets like Japan and Thailand, and considers future developments in the UAE.
In December 2024, following the passing of founder Lui Che Woo, Francis Lui assumed the role of chairman of Galaxy Entertainment Group. He emphasizes the need for the family to steer the organization through uncertain global conditions, an endeavor he views as a passion rather than merely a job. With a family commitment that retains its founding flavor, he looks to the future with confidence, stating, "We believe in the Macau story and will continue to invest in the market long term."
