Galaxy Entertainment Group announced its financial results for the second quarter on Thursday, with Chairman Lui Che Woo confirming the group is well advanced in its preparations to bid for a new Macau gaming license.
“We are well positioned to compete for one of Macau’s gaming concessions [and] look forward to the completion of the concession bidding process by year end,” he said.
Lui pointed to GEG’s “track record of introducing innovative non-gaming elements into our resorts, our strong operational history, significant investment into Macau’s economy and our substantial CSR efforts including supporting SMEs.”
However, there has been little movement in regard to the opening of Galaxy Macau Phase 3, which remains largely complete but in limbo given the absence of high visitor volumes due to the COVID-19 pandemic. As in recent quarters, GEG said Phase 3 – including the all-suite 450-room Galaxy Raffles Hotel, Galaxy International Convention Centre and Andaz Macau – would launch based on the prevailing market conditions of the time.
The company is also well into construction of Galaxy Macau Phase 4. Phase 3 and 4 will, when both are complete, add a combined 3,000 high end and family rooms and villas, 400,000 square feet of MICE space, a 500,000-square feet, 16,000-seat multi-purpose arena, F&B, retail and more casinos, among other amenities.
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