In this new regular feature in IAG to celebrate 16 years covering the Asian gaming and leisure industry, we look back at our cover story from exactly 10 years ago, “Shine on”, to rediscover what was making the news in December 2011!
Galaxy Entertainment Group will head into the new year on the brink of unveiling Galaxy Macau Phase 3, so it seems apt to take a step back in time and explore the evolution of this iconic Macau integrated resort.
Galaxy Macau featured as the cover story of Inside Asian Gaming’s December 2011 issue and, despite being open for just seven months by that stage, it was already clear this property was very quickly changing the face of Macau gaming.
Sitting in last place among Macau’s six concessionaires in terms of revenue share in 2010 – primarily due to the extremely small footprint of its original Macau casino at StarWorld – the opening of Galaxy Macau saw GEG rapidly soar into second spot behind only SJM thanks to the expansion of VIP baccarat capacity in rooms designed by globally renowned casino architect Paul Steelman.
Galaxy Macau’s success was an early sign of Cotai’s emergence as the home of gaming in Macau and it is no surprise that GEG and Sands China – operator of The Venetian Macao, The Parisian Macao and The Londoner Macao in Cotai – have since emerged as the two dominant forces on the local gaming scene.
What may not have been so predictable at that time was the transformation of Macau’s gaming mix: despite seeing mass market table gaming revenue grow by around 450% year-on-year, it still only comprised 14.4% of GEG’s table revenue as of October 2011. Fast forward a decade and mass tables comprised 65% of GEG’s table game revenue in 3Q21, up from 53% pre-COVID in 4Q19.
Of course, while some things change, others stay the same, with GEG’s then Group President and COO Michael Mecca telling IAG back in 2011, “We have invested a great deal to expand our non-gaming offerings to help further the government’s goal to diversify Macau’s leisure and entertainment offerings and position Macau as a world-class tourism and leisure center. And we will continue to do so.”
