Monte-Carlo SBM signs a strategic partnership with Galaxy Entertainment Group
Monte-Carlo Société des Bains de Mer has just signed a strategic partnership agreement with the Chinese operator Galaxy Entertainment Group to expand its business in the Asia-Pacific region.
Monte-Carlo Societe des Bains de Mer, Casino Square
Monte-Carlo Société des Bains de Mer, a Monegasque hotel owner and operator, has teamed up with Galaxy Entertainment to develop its business in the Asia-Pacific region. This strategic partnership follows GEG's participation in the capital of the S.B.M in July 2015 and confirms the willingness of the two groups to work together on new development projects.
Jean-Luc Biamonti, SBM Chairman of the Board and Chief Executive Officer, declared on this occasion: “We recognize the similarities in corporate philosophy between both S.B.M. and GEG. A deep commitment to supporting the company’s employees and the local community, the environment and maintaining the highest quality in world-class resort design and service standards, which all echo SBM’s own corporate beliefs. GEG’s success in Asia will certainly be a valuable enhancement to SBM’s portfolio.”
The two hotel operators plan to open an Integrated Resort in Japan, the country having recently passed a law to promote this type of property in the region. Galaxy Entertainment Group, which manages three resorts in Macau, has a good reputation in Asia and should be beneficial to the deployment of S.B.M in the territory.