Galaxy to invest US$3.5bn in Macau under new 10-year gaming concession
The majority of the investment will go to non-gaming offerings and exploring overseas markets.
Macau.- Francis Lui Yiu Tung, deputy chairman at Galaxy Entertainment Group (GEG), has announced that the company will invest MOP28.4bn (US$3.5bn) to improve its Macau resorts. Some 96 per cent of the investment will go to non-gaming offerings and exploring foreign markets.
In a joint press conference with government officials on Saturday, Lui said that GEG will continue to contribute “to the healthy and orderly development of Macau’s leisure industry and enrich the SAR’s offerings as a ‘World Center of Tourism and Leisure’.”
To attract non-Chinese tourists, the company plans to open new overseas offices in Singapore, Thailand and South Korea and launch a series of marketing initiatives targeting Japan, Indonesia, Malaysia, India, the Philippines and Vietnam.
In terms of non-gaming facilities, GEG announced the development of a 61,000-square-meter high-tech amusement park that will integrate multimedia, interactive and multi-sensory technologies. The company will also expedite development plans for a 4,000-seat music and performing arts theatre that will host musical events and international artists.
It will also develop the Galaxy International Convention Center (GICC) to attract a variety of international and regional MICE events.
The company said: “GICC, which will be Asia’s most iconic and advanced MICE and entertainment destination, will boast 40,000 square meters of flexible MICE space. A wholly non-gaming facility, the convention centre will cater to the needs of international and regional organizations for hosting a variety of MICE events.”
It said it will also deepen its collaboration with industry stakeholders in Macau, Hong Kong, China and around the world “to develop exciting and interactive side activities to promote branded sports tourism.”