MACAU BUSINESS Connected territory Galaxy Macau is the first stage of a bigger
undertaking by Galaxy Entertainment Group in Cotai. The complex only occupies one-third of the plot it sits on, which is to say that the company owns the biggest contiguous land bank licensed for gaming in the territory. “We are very excited about the prospects for Galaxy Macau and are committed to its future, which includes developing future phases,” Mr Lui says. “Financial and other details will be revealed in due course.” According to him, the company will not
aggressively develop the area. “We will only expand our future plans in alignment with the growth of the market, the expansion goals of the Macau SAR government and the demands of our guests.” “For now, we are solely focused on the successful opening and operations of phase one,” he says. The opening of Galaxy Macau also marks Galaxy
Entertainment Group’s debut in Cotai as a property owner. Grand Waldo’s casino, the first to open in Cotai area, in 2006, works under the company’s gaming license but it is owned by a third party. Currently, the Galaxy Entertainment Group owns and operates StarWorld on the peninsula and operates four third-party owned casinos in Macau. For the first three months of the year, the group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) reached HK$712 million (US$91.5 million), up 71 percent year-on-year and 14 percent quarter-on-quarter. According to Galaxy Entertainment Group, which only announced certain selected unaudited key performance indicators, excluding net profit, this was its tenth consecutive quarter of EBITDA growth. From the beginning, Galaxy Macau has aimed for the emerging middle class in the mainland that is yet to visit Macau, while keeping an eye on the VIP clientele, which accounts for roughly three quarters
of Macau’s casino gross gaming revenue. “With our Jinmen Club, VIP rooms and luxurious
setting, we expect that Galaxy Macau will attract a good share of VIP customers,” says Mr Lui. “However, given the property’s scale and incredible offerings, both in the gaming and non-gaming areas, we also believe it will become a popular choice for weekend holiday travellers.” In terms of marketing, Galaxy Macau has positioned itself as an Asian-centric resort. “Our signature ‘World Class, Asian Heart’ philosophy is a major differentiator. It is embodied throughout every aspect of our company,” Mr Lui stresses. “From the attention to detail in our design, to the service we provide our guests, to the way we treat our staff, it is a philosophy of heartfelt, sincere
24 JUNE 2011
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