Galaxy Macao will open three phases starting next year
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According to reports, in Macau, Galaxy Entertainment Group announced that phase three work on the huge Galaxy Macao integrated casino resort will begin as early as next year, followed by phase four.
According to a report by GGRAsia, the revelation came from Lui Che Woo, chairman of the Galaxy Entertainment Group Limited, who further explained on Thursday that the casino operator had accelerated the development of Galaxy Macao, hoping to complete all the work before the expiration of the current gaming license.
The first phase of Galaxy Macao took place before the second phase, which included the construction of an additional pair of hotels, began. Citing Francis Louis Yu Tung, vice chairman of Galaxy Entertainment Group Limited, GGRAcia said in February that subsequent developments would include the construction of an additional 1,500 hotel rooms along with a 16,500-seat arena. He said the work reportedly sees the Kotai Streep property add a number of conferences, conferences and exhibition spaces, as well as a small casino.
Galaxy Macao's development involves the huge property adding 3,000 hotel rooms. Citing brokerage Sanford C Bernstein, it reported that Galaxy Entertainment Group had invested about $89.17 million in the first three months, securing about $5.73 billion to complete the latter phase.
Hong Kong-listed Galaxy Entertainment Group Limited is also hoping to be selected to run one of its three integrated casino resorts that could potentially come to Japan and has reportedly told GGRAsia that it plans to expand its team in the country now led by Ted Chan Ying-tat, a former executive at Melco Resorts and Entertainment Limited.
