HK's Galaxy Entertainment says to buy $419 mln Macau assets

HONG KONG Sun May 5, 2013 11:34am EDT

HONG KONG May 5 (Reuters) - Galaxy Entertainment Group Ltd said on Sunday it would buy assets in Macau's Cotai from hotel operator and casino marketing firm Get Nice Holdings Ltd for HK$3.25 billion ($419 million).

The assets include properties and the right to use the trade mark Grand Waldo, Galaxy said in a filing to the Hong Kong bourse late on Sunday.

Gambling revenue in Macau, the world's biggest gaming destination, rose 13.2 percent in April year-on-year, buoyed by strong demand from wealthy Chinese customers.

Casinos such as Las Vegas Sands Corp, Galaxy Entertainment and Melco Crown Entertainment Ltd are developing attractions to appeal to a wider array of visitors.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.