Galaxy Entertainment Group will delay the completion of phase 3 of its casino resort on Cotai to the second half of 2021.<\/p>\n\n\n\n\n\n\n\n
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.<\/p>\n\n\n\n
Two brokerages say they received the news from the group’s management.<\/p>\n\n\n\n
Hong Kong-based analyst Andrew Lee of Jefferies Group reported that the casino resort will be \u201cdelayed slightly to the\u00a0second half of 2021″.<\/p>\n\n\n\n
Brokerage Sanford C. Bernstein mentioned a similar timeline, adding that the launch \u201cmay come in a phased manner depending on business conditions\u201d.<\/p>\n\n\n\n
Galaxy Entertainment said in a filing to the Hong Kong Stock Exchange this week that development of Phase 3 and Phase 4 \u201cmay be impacted\u201d because of the Covid-19 pandemic.<\/p>\n\n\n\n
The company said: \u201cAt this point we cannot quantify the impact, but we will endeavour to maintain our schedule”.<\/p>\n\n\n\n
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.<\/p>\n","protected":false},"excerpt":{"rendered":"
Galaxy Entertainment Group will delay the completion of phase 3 of its casino resort on Cotai to the second half of 2021.<\/p>\n","protected":false},"author":2,"featured_media":11762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Galaxy Entertainment Group has announced a delay in the completion of Phase 3 of its Galaxy Macau casino resort on Cotai to the second half of 2021, citing impacts from the Covid-19 pandemic. This phase includes significant new hotel rooms, casino space, an arena, and MICE facilities. Brokerages Jefferies Group and Sanford C. Bernstein confirmed the revised timeline, noting potential phased launches.","focusai_entities":"Galaxy Entertainment Group, Jefferies Group, Sanford C. Bernstein, Andrew Lee","focusai_location":"Macau, Hong Kong, Cotai","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on GGR Forecasts?","query":"How will the delayed launch of Galaxy Macau Phase 3 impact consensus GGR forecasts for the Macau market in H2 2021 and beyond, considering the new capacity and MICE offerings?"},{"label":"Capital Allocation Strategy?","query":"What are the implications of this delay for Galaxy Entertainment Group's capital allocation strategy, particularly regarding potential re-prioritization of Phase 4 or other regional investments?"}],"footnotes":""},"categories":[160,28,161,16338,158],"tags":[29,22935,257],"class_list":["post-11760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-daily-news","category-east-asia-news","category-slider-home","tag-casino","tag-galaxy-entertainment","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11760"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11760\/revisions"}],"predecessor-version":[{"id":11774,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11760\/revisions\/11774"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11762"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}