Francis Lui

Francis Lui chairs Galaxy Entertainment Group, continuing the family business built by his father Lui Che-woo, one of Hong Kong's wealthiest tycoons. Galaxy is one of six licensed casino concessionaires in Macau — the only territory in China where casino gambling is legal, making it the world's largest gambling market by revenue (exceeding Las Vegas in normal years). Galaxy's flagship property is Galaxy Macau, a massive integrated resort on the Cotai Strip featuring multiple hotel towers, a 75,000-square-meter Grand Resort Deck with the world's largest rooftop wave pool, extensive gaming floors, luxury retail, and entertainment facilities. The company invested over $5 billion developing Galaxy Macau through three phases and is now building Phase 4 — an enormous expansion adding more hotel rooms, MICE (meetings, incentives, conferences, exhibitions) facilities, and entertainment venues. Macau's gaming recovery post-COVID has been strong but uneven — mass-market gaming (tourists and middle-class gamblers) has recovered well, while VIP/junket gambling has permanently declined following regulatory crackdowns. Key stock drivers include Macau gross gaming revenue, mass-market versus VIP mix, mainland Chinese tourism volumes, Galaxy Phase 4 opening timeline and ramp-up, new concession license conditions, and competition among the six Macau operators (SJM, Wynn Macau, Sands China, MGM China, Melco).