Galaxy aims for Macau to be more than casinos
Print Edition
GALAXY Entertainment Group wants to change the face of Macau’s gambling-focused tourism industry to one that is more diversified by opening a new section of the Galaxy Macau resort and the brand new Broadway Macau yesterday.
The opening marks phase two of the Hong Kong-based company’s planned US$13 billion investment in Macau that aims to draw tourists by promoting non-casino entertainment amid a downturn in revenue in the world’s biggest gambling hub.
The share of revenue that comes from non-gambling business in Macau’s tourism industry is under 10 percent.
“We hope in the future, that the revenue of Macau’s tourism industry can be generated more from the non-casino features like Las Vegas where more than 60 percent come from hotels, restaurants, clubs, shopping, shows, convention and events,” said Francis Lui, vice chairman of Galaxy Entertainment Group.
Macau saw its first annual decline in casino revenue last year and may face a 21 percent drop this year.
In the first quarter of this year, the total revenue from Macau’s gambling industry fell 37 percent from the same period of last year to 64.8 billion patacas (US$8.1 billion).
“The market here is very different from what it was 10 years ago (as) we want keep up with customers’ changing tastes by giving them diversified choices of entertainment rather than casinos,” Lui said.
The Galaxy Macau complex provides over 1.1 million square meters of space, with six upscale hotels that include the Ritz-Carlton’s first All-Suite hotel and Asia’s largest JW Marriott with over 1,000 rooms.
The complex also has 200 shops, 120 restaurants including eight Michelin-starred ones.
Across the street, the Broadway Macau will offer entertainment with its street performances, food streets, Broadway theater as well as shopping and gaming.
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