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The Galaxy Entertainment Group has revealed plans to build a US$7.4bn expansion to its Galaxy Macau resort Macau - New projects
With the Macau government demanding diversifi- cation away from gaming, Galaxy Macau has released plans to spend US$7.4bn on an expansion that will include a recreation of New York’s Broadway theater district as it looks to attract even more visitors.
The spectacular addition will open its doors on 27 May 2015. Delivering HK$43bn in a planned HK$100bn commitment to Macau, the project will double the size of the resort destination to over 1.1m sq. m, offering six world class hotels provid- ing close to 4,000 rooms, suites and villas plus two spas. The Broadway will be a vibrant street and entertainment district showcasing the creativity and artistry of the people of Macau with hawker- style vendors, live entertainers and world class performances, delivering a new landmark desti- nation and a first for Macau.
China A decline in VIP players and less mass-market gaming saw net income for Macau casino operator Melco Crown Entertainment fall to US$1.12bn in the fourth quarter of 2014, dropping by 19 per cent from last year. The operator said the decline in net revenue was ‘primarily attributable to lower group-wide rolling chip revenues and mass market table games revenues.’ Revenue for the year ended December 31, 2014, was also down. Melco Crown Entertainment reported net revenue of US$4.8bn versus US$5.1 billion in the prior year. The year-over-year decline in net revenue was primarily attributable to lower group- wide rolling chip revenues, partially offset by improved group-wide mass market table games revenues. For the fourth quarter of 2014, net revenue at City of Dreams was US$895.5m compared to US$1,095.8m the fourth quarter of 2013.
The expansion will also include an expanded Grand Resort Deck complete with the Skytop Adventure Rapids featuring the world’s longest skytop aquatic adventure river ride at 575 meters and the world’s largest skytop wave pool.
Chairman of GEG, Dr. Lui Che-woo said: “Our commitment to the development and continued success of Macau remains stronger than ever, which is why today, 10 years after making our debut in Macau, we are proud to formally intro- duce two more groundbreaking projects to our ever-expanding portfolio to support the diversifi- cation of Macau to be developed as a ‘World Centre of Tourism and Leisure’.”
Vice-Chairman of GEG, Mr. Francis Lui added:
“Since we founded Galaxy Entertainment Group, our vision has been closely aligned with that of the Macau SAR Government. We have always done our utmost to bring tremendous new offer- ings to the market – to attract more tourists, give them reasons to stay longer, enjoy spending more with the diversified attractions Macau has to offer and contribute to a strong economy for current and future generations.”
Russia’s Primorye Integrated Resort set for May opening
RUSSIA The First Gambling Company of the East has said it will open its US$30m, four-story hotel and casino in the Russian gambling zone close to Vladivostok in the Primorye region in May with the bold prediction that the zone can emulate Macau’s success.
CEO John Wang said: “Given the favourable location of Vladivostok, we are sure that it can become a second Macau.”
A company spokesperson added: “ Our luxury Hotel, Spa and superior gaming facilities will be the first of its kind in the Far East of Russia. With an investment of several bil- lions rubles we will be providing, not only first class facilities, but also, the highest standards of serv- ice, a customer oriented experi- ence aligned with social and envi- ronmental sustainability. The pro- posed complex will include one of the most state-of-the-art and largest casinos in Europe as well as a four-star 120 room hotel. The
gaming floor will comprise approximately 7,200 square meters. In addition, guests will be offered relaxation at the spa, exer- cise in the gym or pool, or enjoy the vast selection of food and drink in one of two signature restaurants or enjoy the nightclub later.”
Located 50 km from the regional capital of Vladivostok, the zone benefits from being just a few hours’ flight from Tokyo, Seoul and Beijing, meaning it will be able to market to gamblers from across Asia.
The regional government has also signed deals totalling $1.4bn with Cambodia-based NagaCorp, Hong Kong-listed Melco International and Russian entity Royal Time Group, which has already seen success in Azov-City. NagaCorp and Royal Time Group both con- firmed that they will break ground on their projects this year. The long-term goal is for it to have 16 casino resorts.
VIETNAM – PHU QUOC GETS CASINO NOD Vietnam’s Prime Minister Nguyen Tan Dung has given the green light for a casino at the Phu Quoc island district in the southern province of Kiên Giang.
The casino will have a limit of 400 tables and 2,000 slots and will be part of a larger tourism and entertainment com- plex with conference centers and an international five-star hotel with 3,000 rooms. The Ministry of Planning and Investment and the Kien Giang authorities will oversee the tender process for the project which is expected to cost something in the region of US$4bn. The region is being developed into a special administrative economic zone by the government with an international luxury eco-tourism and entertainment site and a regional financial centre.
Dinh Khoa Toan, Chairman of Phu Quoc People’s Committee, said that whilst the idea of a casino in the region had been touted for several years, no investor had so far presented plans to build one. Tourist levels were up in Phu Quoc last year by 37 per cent with around 55 per cent of its 600,000 tourists being foreigners.
SINGAPORE – SOCIAL GAMING SAFE IN SINGAPORE Singapore’s new laws regarding online gambling kicked in at the start of February, meaning visitors to online gambling sites would have found themselves unable to access the sites. The authorities blocked access to several hundred sites on February 2 and whilst the list of websites to be blocked will be regularly reviewed, their details will not be public.
A Ministry of Home Affairs (MHA) spokesperson said: “The MHA and the Media Development Authority are working with Internet service providers (ISPs) to ensure that the blocking of websites is implemented smoothly. It is also an offence under the Act to publish remote gambling service advertise- ments and promote remote gambling in Singapore. Offending websites will be served notices to remove these materials.”
The Remote Gambling Act (RGA), which was passed in Parliament on October 7 2014, took effect on February 2 2015. Its objectives are to maintain law and order and to minimise the potential harm of remote gambling, especially to young persons and other vulnerable persons. Under the Act, it is an offence for a person to gamble remotely with unauthorised operators, facilitate others to do so, or to pro- vide unauthorised remote gambling services. Websites that provide, facilitate, advertise or promote remote gambling services will be blocked from 2 Feb 2015.
Payment transactions related to unlawful remote gambling activities will also be blocked. Those who break the law may be fined up to S$5,000, or jailed for up to six months.
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