Scientific Game

Cotai Act II

Galaxy is bringing Broadway to Macau on 27th May

Wednesday, 04 February 2015 16:02
Share
Visit us

A Macau gaming market in need of some good news has gotten about US$7 billion worth.

That’s roughly how much casino giant Galaxy Entertainment Group (HKSE: 0027) says it will invest in the Chinese gaming hub—HK$57 billion—over the next several years as the market eagerly awaits the debut of the second phase of the company’s flagship Galaxy Macau in May and start of the next spurt of resort growth centered on the Cotai tourist district.

In all, Galaxy has committed HK$100 billion to fully build out on Cotai, where it controls the largest developable land bank of the six casino concessions, all of which are building new resorts in the district.

The company said Phase 2, priced at US$2.6 billion in total, will see the adjoining Grand Waldo casino hotel, purchased in 2013 and subsequently closed, converted into a Broadway-style entertainment complex as part of an array of tourist-focused attractions that will include a 3,000-seat theater for live performances and shows and 120 bars and restaurants.

 

The expanded Galaxy Macau will offer 1,400 additional hotel rooms of its own and more than 200 retail outlets.

“What we’ll do is make it more diverse, from entertainment, leisure, culture and art, we will continue to expand,” said the company’s founder, chairman and controlling shareholder Lui Che Woo. “This is to meet the requests from the country and Macau.”

Francis Lui, deputy chairman and Lui Che Woo’s son, said he’s in talks with the government on the number of gaming tables the expansion will be granted. Galaxy has said it has the capacity to add as many as 500 to the second phase.

The Broadway is envisaged as a vibrant street and entertainment district with hawker-style vendors and live performers.

The Promenade will feature over 200 luxury and lifestyle retail brands.

The 3,000-seat Broadway Theater will showcase up-close-and-personal entertainment and live performances.

Current Issue

Tribal Ambition

Tribal Ambition By Muhammad Cohen and Ben Blaschke   Mohegan Gaming and Entertainment CEO Mario Kontomerkos believes the Native American casino operator has two aces in the hole for Japan, especially when it comes to the so-called regional markets beyond major areas. In his presentation at last month’s Japan ... Monday, 04 June 2018 20:55

Social Gathering

Social Gathering By Shaun McCamley   Social casino gaming is booming. In 2017, the global social gaming industry generated a whopping US$106 billion in revenues, with the social casino segment generating US$4.5 billion in revenues. Not surprisingly China, Japan and Korea generated 90% of the games revenue in the... Monday, 04 June 2018 20:44

Redefining Tourism

Redefining Tourism By Muhammad Cohen   In an era when tourism constitutes a growing portion of the global economy, integrated resorts present a potent although frequently misunderstood means for growing visitor arrivals and revenue. It’s not simply the casino but their range of attractions that make IRs such powe... Monday, 04 June 2018 20:37

Japan IR Timeline

Japan IR Timeline By Ben Blaschke   What year for Japan’s first IR? It’s a question that continues to divide industry stakeholders, the answer further clouded by the substantial disparity in opinion offered at last month’s Japan Gaming Congress (JgC) in Tokyo. At the nearer end of the scale, members of the... Monday, 04 June 2018 20:27