HONG KONG – Galaxy, Macau’s top casino operator is on a record winning streak as the effects of a mainland Chinese anti-graft campaign fade – and that’s enriching its owner to the tune of US$12 billion.
Galaxy Entertainment Group has jumped about 200 percent during a seven-quarter winning streak, placing it among the top four performers on Hong Kong’s Hang Seng Index. Analysts are bullish, with 24 saying buy and not a single sell rating, while their consensus target price implies a further 12 percent gain.
That bodes well for founder Lui Che-Woo, who saw much of his wealth evaporate as Beijing’s corruption probes battered Macau’s casino operators when President Xi Jinping came to power.
