Galaxy Macau casino resort completion delayed
Galaxy Entertainment Group will delay the completion of phase 3 of its casino resort on Cotai to the second half of 2021.
Macau.- Casino operator Galaxy Entertainment has put back the completion date for phase 3 at the Galaxy Macau casino resort to the second half of 2021.
Two brokerages say they received the news from the group’s management.
Hong Kong-based analyst Andrew Lee of Jefferies Group reported that the casino resort will be “delayed slightly to the second half of 2021″.
Brokerage Sanford C. Bernstein mentioned a similar timeline, adding that the launch “may come in a phased manner depending on business conditions”.
Galaxy Entertainment said in a filing to the Hong Kong Stock Exchange this week that development of Phase 3 and Phase 4 “may be impacted” because of the Covid-19 pandemic.
The company said: “At this point we cannot quantify the impact, but we will endeavour to maintain our schedule”.
Phase 3 is to feature 1,500 hotel rooms, casino space, a 16,000-capacity arena, and 400,000 square feet (37,161 square metres) of meetings, incentives, conferences and exhibitions space.
