Galaxy Entertainment Group, which is listed on the Hong Kong Stock Exchange, is venturing outside of Asia to invest in the Europe gambling market.
The casino operator is set to purchase a five-percent stake in Societe des Bains de Mer et du Cercle des Etrangers a Monaco (SBM) from an independent third party, this according to an email statement issued earlier this month. At this point in time, both the party selling and the purchase price are unknown.
Additionally, LVMH Moet Hennessy Louis Vuitton SE, the world’s largest luxury-goods maker, stated that it would be purchasing a five-percent stake in SBM.