International edition
June 24, 2021

A US$ 1.9 billion project

Galaxy Entertainment to open its Macau casino next May 15

(Macau). - Galaxy Entertainment said that it would open its US$ 1.9 billion new resort on May 15, with the timing roughly in line with analyst expectations.Galaxy's 550,000 square meter property is likely to be the only new casino to open this year.

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alued at around US$ 6 billion, Galaxy already has two casinos in Macau. Its third property, Galaxy Macau, will open next to Adelson's Venetian property on the Cotai strip.

The new resort, described as "Asian-centric" in a statement to the Hong Kong stock exchange, will have a sky-top wave pool and a nine-screen multi-purpose cinema.

Analysts said the opening was unlikely to take significant market share from other operators, with SJM expected to continue to dominate the market despite an ongoing public spat between the octogenarian and his extended family.

Singapore-listed Banyan Tree Holdings and Japan's Okura Hotels and Resorts will make up about a third of Galaxy Macau's hotel rooms, with the gaming company holding the remaining 1,500 rooms.

Sands China said it was on track to unveil its new property at the end of this year. Las Vegas Sands Corp, the Macau operator's parent, has attracted scrutiny from US anti-corruption agencies over its compliance with the Foreign Corrupt Practices Act.

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