Macau gaming operator Galaxy Entertainment Group (GEG) officially opened Phase 3 on Wednesday, intending to establish a new cultural landmark in the gaming hub.
Lui Che Woo, the group’s chairman, notes that the 2024 Policy Address of Macau has proposed various directions, such as promoting the quality development of the MICE industry, building an “entertainment capital,” and creating a “city of sports events”. He indicates that these development directions align with the development orientation and vision of Galaxy Macau’s Phase 3.
Lui also mentions that the official opening of Phase 3 marks ‘a new page’ in GEG’s business development. The opening ceremony signifies the presence of the Secretary for Social Affairs and Culture, Elsie Ao Ieong, and the Secretary for Economy and Finance, Lei Wai Nong.
Galaxy Macau’s Phase 3 focuses on non-gaming elements, including the Galaxy International Convention Center (GICC), which has an area of approximately 40,000 square meters and a pillar-free exhibition hall spanning 10,000 square meters on the ground floor.
The Galaxy Arena, capable of accommodating up to 16,000 spectators, is currently the largest indoor arena in Macau. It boasts state-of-the-art sound equiapment and a no-visual-occlusion design to create 360-degree all-around audio-visual enjoyment.
Two additional hotels, Andaz Macau and Raffles at Galaxy, collectively offer more than 1,100 rooms.
Additionally, GEG is working on Phase 4 construction, which includes gaming, it was originally slated for 2027 but its target opening is now set for 2026 with 1,600 larger rooms planned.
It also encompasses six high-end hotels, a 4,000-seat theater, extensive F&B, retail, non-gaming amenities, and a water resort deck.
According to the latest financial report, GEG had an encouraging third quarter in 2023, with net revenue rising to HK$9.7 billion ($1.24 billion), representing a 374 percent year-on-year increase.
The figures represent the group recording an adjusted EBITDA increase of 576 percent year-on-year to HK$2.8 billion ($359 million). This figure also indicates a continuing and ongoing recovery in both visitor arrivals and associated gaming revenue.
