Galaxy Entertainment Group said Wednesday that construction work on Galaxy Macau Phase 3 was now “virtually completed” but it remains unclear when the expansion project will open or even if it will do so within this year.
According to information contained within GEG’s 4Q21 results announcement, first amenities will open to the public based on “prevailing market conditions”, however Vice Chairman Francis Lui explained during a press conference that the matter was largely out of the company’s control.
“Basically our construction work has been completed and we are now taking delivery of the works and are working closely with the government departments concerned,” Lui said.
“Eventually we will have the support of the government [to open] so the permits can be issued in a timely manner for us. But the date of commissioning is not entirely within our control. As long as the [COVID-19] pandemic is under control and visitors return to Macau I’m sure our government will support more visitors coming to Macau.
“For Phase 3, the majority of the facilities are non-gaming in nature. We are looking forward to that and we want to position ourselves from a new angle with our new facility, new design and new features to attract new customers to come to Macau.”
GEG Chairman Lui Che Woo said the company hoped to open Phase 3 within 2022 but it could be as late as early 2023, depending on how the pandemic situation plays out.
If the latter, that could see the re-tendering for Macau casino concessions play itself out ahead of launch with GEG hinting that the re-tendering process was likely to take place in the second half of this year.
“We have also heard from the government that if the concession was to be extended, that would be one of the options,” said Francis Lui.
“They are confident that before June of this year they will be able to conclude the deliberation [of Macau’s amended gaming law by the Legislative Assembly], so I think in the second half of this year the gaming concessions will be up for tender.
“We will continue to liaise with the government as to what we need to do going forward.”
Once open, Galaxy Macau Phase 3 will offer the all-suite Raffles at Galaxy Macau, the Galaxy International Convention Center incorporating the Andaz Macau hotel plus other gaming and non-gaming facilities.
