Galaxy invests in Monaco casino company as Macau revenue falls
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GALAXY Entertainment Group Ltd is taking a stake in a Monaco casinos and hotels operator, as the company controlled by billionaire Lui Che-Woo expands beyond Macau amid a gambling downturn in the Chinese city.
Galaxy is buying 5 per cent of the shares of Societe des Bains de Mer et du Cercle des Etrangers a Monaco (SBM) from an independent third party, the company said on Saturday. It did not name the seller or the sale price.
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