Galaxy Macau, Galaxy Entertainment's long-awaited integrated destination resort in Cotai, is to open on May 15.
Representing a total investment of HK$14.9bn, the 550,000sq.m resort will be the biggest property opening in 2011 and, if the Macau government carries through its plans to restrict further expansion, it may be the last of its size to open for some time.
Lui Che Woo, founder and chairman of Galaxy Entertainment, said the new property will be in line with the Macau government’s aim to diversify the enclave’s leisure and tourism industry.
“From the beginning our vision has been to develop and operate a resort that delivers both international calibre standards but also captures the heartfelt service culture and unique flavour of Asia – something we call ‘World Class, Asian Heart’,” he said. “This is especially critical for success in a market where Asian travellers are so dominant.”
Macau’s gaming revenues hit a new record in February as the Chinese enclave further stretched its lead over the rest of the gaming industry.
The Inspection and Coordination Bureau revealed that the enclave’s casinos generated gaming revenues of 19.86bn patacas ($2.47bn) in February, up 48 per cent on the same month last year. In January, the figure stood at 18.57bn patacas.
February’s figures broke the previous record of 18.88bn patacas set in December last year, prompting analysts to suggest that Macau may see month-on-month growth throughout 2011.
It is thought, however, that the enclave has yet to fully penetrate the growing mainland market consumer base. Resorts such as Galaxy Macau may go some way to attracting those not solely intent on gambling and further boost the growth of the Macau tourism market.
