International edition
June 23, 2021

To us$ 2.51 billion

Galaxy upping the budget for Cotai Phase 2

(Macau).- Galaxy Entertainment is raising its budget for the second phase of Galaxy Macau to us$ 2.51 billion from us$ 1.58 billion. A new media report says the operator will invest us$ 4.94 billion to us$ 5.93 billion in the third and fourth phases of its flagship Cotai super-resort, and construction could commence on those as early as the end of this year.

P

lans for phases 3 and 4 call for 5,500 additional hotel rooms and up to 1,000 table games and 3,000 slot machines.

Phase 2, meanwhile, is expected to be completed by the middle of 2015 and will be funded from the cash-rich company’s reserves. Galaxy entered the new year with us$ 1.54 billion of cash on hand after net income more than doubled to us$ 7.4 billion in 2012 on a 38% increase in revenues to us$ 56.7 billion. The bulk of that, us$ 33 billion, was generated by Galaxy Macau.

The company has approval from the Macau government this year to add 50 table games between Galaxy Macau and its StarWorld casino on the Macau peninsula. Deputy Chairman Francis Lui has said one-third of them will be allocated to VIP rooms and two-thirds to the public casinos.

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook