GALAXY MACAU Cotai’s Jewel:
Galaxy’s attempt to bring Macau gaming to the mass market has exceeded all expectations – and they’ve only just begun
O
Above: Dr. Che-woo Lui, Chairman of GEG, announced the plans and timetable for the development of Galaxy Macau Phase 2.
Below, L to R: Mr. Paul Foskey,
Executive Vice President of International Hotel Development, Asia-Pacific of Marriott International; Mr. Francis Lui,
Vice Chairman of GEG; Dr. Che-woo Lui, Chairman of GEG; Mr. Michael Mecca, President & Chief Operating Officer of GEG; Mr. Robert Drake, Group Chief Financial Officer of GEG
Galaxy Macau
n the back of superb first-quarter results, in which Galaxy Entertainment Group [GEG] announced a 202% year-on-year growth in EBITDA [earnings before interest, taxes, depreciation, and
amortization] and Galaxy Macau announced stellar returns of $1.3billion, up 6% in Q1 2012 for the third full quarter of operation, everyone is looking to Cotai for the next stage of Macau’s evolution. With Macau Peninsula itself basically developed, the room for growth is across the bridge and Galaxy is leading the way on the Cotai Strip. On the announcement of the group’s results, with
an eye on Galaxy Macau’s strong showing, Dr. Che- woo Lui, Chairman of GEG said: “This is another set of strong results, our 14th consecutive quarter of EBITDA growth. Both our flagship properties delivered gains in profitability. As Galaxy Macau enjoys its one year anniversary; it continues to exceed our expectations, as well as those of our guests. “Today’s performance announcement also
underscores the exciting potential of our recently announced Phase 2 development of Galaxy Macau. We are constantly striving to achieve even greater
Fortune Diamond at the lobby of Galaxy Macau.
success in the pursuit of our goal, to become Asia’s Leading Gaming and Entertainment Corporation.”
Next Phase Looking ahead to the company’s plans for the next
phase of construction on the project, that success is not too far away. Dr. Che-woo Lui explained: “Building on the enormous success of the internationally acclaimed Phase 1 of Galaxy Macau, and the healthy long term prospects for Macau, we are delighted to announce our plans for Macau’s next major development: Phase 2 of Galaxy Macau.” Phase 2 of the Galaxy Macau project almost
doubles the size of the property, making this top casino-resort almost 1,000,000m2 in size. The development includes two new luxury hotels, including the Ritz-Carlton’s first ever all-suite hotel and the world’s largest JW Marriott. This introduces a total of 1,300 rooms and suites to give the property a grand total of over 3,600 rooms and suites across five luxury hotels. Unlike some resorts, Galaxy really is filling its hotel rooms, with occupancy in Q1 2012 December 2011 at a reported 90 per cent. Retail space within the new development will also be important, with expansion to over 100,000m2, with 200 luxury stores to delight visiting shoppers. The skytop wave pool – which is the world’s largest – will be enhanced, with more for guests to enjoy and beautiful tropical gardens on the Grand Resort Deck that will connect the five hotels. Phase 2 is a very guest-focussed development, confirmed by the addition of an amazing 500 table games and more than 1,000 slot machines for visitors.
30 JULY/AUGUST 2012
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62