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Galaxy Entertainment, Monaco's SBM to secure operating license in Japan

Casino operators Galaxy Entertainment Group Ltd and Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco will strengthen their alliance as they try to secure an operating license for a casino-resort development in Japan, the Nikkei Asian Review reported May 14.

Galaxy Entertainment and Société Anonyme des Bains de Mer's relationship began in July 2015, when Galaxy acquired a 5% stake in the Monaco-based casino operator. Last year, the two formed a strategic partnership and disclosed plans of possibly developing and operating an integrated resort in Japan.

Former Galaxy Entertainment President and COO Michael Mecca reportedly told the news agency that "the relationship between two companies is growing in many ways and that we keep exploring new ways to work together."

The report said Mecca also highlighted the two companies' "world-class and iconic integrated resorts, both in Asia and Europe," which he said will involve Japanese hospitality that will come from not-yet-named local companies in an alliance that will be formed at the time of a bid.

Jean-Luc Biamonti, chairman and CEO of Société Anonyme des Bains de Mer, also reportedly said the company is "happy to strengthen the collaboration" with Galaxy Entertainment.

According to the report, Japan is a market international gaming companies are focusing on as the country moves to legalize gambling.