Deals
Galaxy Buys Casino to Expand in Macau’s Cotai; Shares Climb
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Galaxy Entertainment Group Ltd., the Macau casino owner that doubled profit last year, will buy a casino hotel on the city’s increasingly popular Cotai strip. The company’s stock rose to a record.
Galaxy advanced 5.9 percent to the highest since its 1991 listing after saying it would pay HK$3.25 billion ($419 million) for Grand Waldo which includes a spa, casino and a 320,000 square-foot hotel. The casino inside the hotel is already run by Galaxy, which holds one of Macau’s six gambling licenses.