Following the end of Covid restrictions and the collapse of the pre-pandemic junket system, Macau's tourism industry faces a new challenge. Authorities in Macau are striving to transform the region into a global destination that isn’t purely reliant on gaming. While Macau’s six gaming operators, which primarily drive tourism, acknowledge this goal, they often prioritize high-end gaming, inadvertently sidelining other types of visitors.
Francis Lui, the chairman of Galaxy Entertainment Group, believes a “parallel strategy” can satisfy both priorities by developing high-end gaming options alongside non-gaming amenities. His approach not only aligns with Macau’s governing authorities but also ensures Galaxy is actively contributing to this vision.
“The vision in Macau is that it has to be sustainable, and you don’t want to bet on just pure gaming,” Lui explained in an exclusive interview. He recognizes that Macau's unique status as China’s sole legal casino hub offers immense potential, stating, “Macau’s mainland market under-penetration is humongous.” He emphasizes the need for the gaming industry to support governmental objectives: “We try to understand and try to support what the government wants us to do.”
Many in the industry consider Lui to be the leading voice in Macau’s gaming sector. He interprets the authorities’ messages as calls for continued evolution in the industry while also emphasizing social responsibility and creating economic value.
Lui believes that Galaxy Macau's upcoming Phase 3 development aligns perfectly with the government's vision for the region. He stated, “Phase 3 represents the government vision as to what they want Macau to be. We sort of sensed it a few years back, and then we decided that Phase 3 is going to match that vision.” The development includes a Multimedia Art and Convention Center (MICE) and an arena, which Lui insists will be top-notch to compete with regional destinations like Hong Kong and Singapore.
The Galaxy International Convention Center and Galaxy Arena, which opened in 2023, provide 10,000 square meters (over 108,000 square feet) of pillar-free space and feature the latest event and broadcast technologies. Galaxy Arena is now the largest indoor venue in Macau, capable of seating 16,000 with eight luxury suites, alongside a new 715-key Andaz hotel.
To complement the convention and arena spaces, Galaxy also introduced two premium hotels, Raffles and Capella, designed to cater to a market that increasingly demands multi-experiential stays. Lui notes, “This is why we felt Capella and Raffles is the model for the next phase development.” Both hotels include premium gaming areas and exclusive non-gaming amenities such as upscale dining, bowling, golf simulators, spas, and private movie theaters.
Lui observed a significant change in business models since 2019 when the focus was primarily on VIP clients. Now, he states there is a push towards a more sustainable approach to business. “In 2019, the business model was a less regulated model, more a VIP-centric model. Now we are moving into a more sustainable business model,” he noted.
With these additions, Galaxy Macau now offers 5,000 guest rooms across nine brands, numerous dining options, a vast gaming floor, and attractions like the world’s largest rooftop wave pool. Last year, Galaxy’s group EBITDA reached over US$1.8 billion, just shy of the US$2.1 billion reported in 2019.
Planning is already underway for Phase 4, which is set to debut in the coming year and will include the introduction of more luxury hotel brands, a 5,000-seat theater, and additional retail and dining offerings. Lui estimates that the total capital investment for Galaxy Macau will reach HK$100 billion (approximately US$12.75 billion) through these developments.
Phase 4’s plan reflects a shift in Lui’s strategy based on market analysis; initially projecting to add 2,000-2,500 hotel rooms, he has now reduced this estimate to 1,500 rooms to meet the increasing demand for premium accommodations. He acknowledges that this approach contrasts with the government’s objective to establish Macau as a world tourism hub less dependent on gaming. “We should be looking after our premium players, because we are competing with regional cities like Singapore and Japan,” he said.
Lui also pointed to the potential of Hengqin Island, a neighboring special economic zone, as an opportunity for expansion. “If you can find the space in Macau, great. But there’s a great piece of land sitting in Hengqin where the land cost is cheaper,” he said. He believes that improving transport links between Hengqin and Macau could significantly increase visitor numbers from current estimates of 40 to 50 million.
In terms of entertainment, Lui has conducted his research and identified global attractions worth emulating in Macau. After visiting Las Vegas and London, he was particularly impressed by The Sphere and a show by ABBA, which showcase how technology can enhance entertainment experiences.
Lui envisions future entertainment facilities in Macau that integrate new technologies. He remains open to the idea of concessionaires pooling resources to create compelling attractions. “You need more hotels, and then you need a lot more entertainment facilities to make sure that continues to be sustainable,” he remarked.
Beyond Macau, Lui expressed interest in opportunities for Galaxy in Japan and Thailand, mentioning that Japan will reopen bidding for integrated resort licenses in September 2027. Additionally, he sees potential for integrated resorts in the UAE, noting Galaxy's strength in developing top-rated projects.
Despite exploring opportunities elsewhere, Lui remains committed to Macau, stating, “We believe in the China story. We believe in the Macau story. And this is why we don’t have any hesitation in investing in Macau long term.”
In December 2024, Lui ascended to the role of chairman of Galaxy Entertainment Group after the passing of his father, founder Lui Che Woo. He described his current responsibilities as a matter of high-level strategy, especially in an unstable global environment.
Ownership within Galaxy Entertainment remains family-oriented, with his sisters involved at the board level. Although the Lui family holds 54% ownership, Lui emphasizes that effective management is paramount: “Ownership and management are two different responsibilities.” He encouraged his children to pursue their paths to promote personal development and commitment to the family business.
With a rich legacy and a forward-looking approach, Lui expressed his enduring passion for Galaxy. "Today, my passion for Galaxy remains as strong as ever. It still excites me, challenges me, and drives me every day, and I remain energized by the opportunities ahead."
