Galaxy Entertainment, MGM Resorts reportedly eyeing expansion into Thailand as Macau outlook deteriorates

Casino operators Galaxy Entertainment Group and MGM Resorts International are reportedly considering the development of casino resorts in Thailand as they seek to mitigate a challenging outlook in Macau, according to media reports. 

Galaxy, controlled by billionaire Lui Che-woo, is also said to be exploring gaming operations in the United Arab Emirates, undisclosed sources told Bloomberg. These plans come as operators express concerns over Macau’s declining prospects due to China’s push for the enclave to shift its focus from gambling to entertainment and increased scrutiny on gaming activities.

Galaxy boss Lui Che-woo

The reports of potential entry into new markets have had a positive impact on the stocks of the casino operators, with Galaxy shares surging as much as 5.3% in Hong Kong trading, and MGM China, a subsidiary of MGM Resorts, rising over 6%. This upward…