{"id":777011897,"date":"2023-12-14T08:44:15","date_gmt":"2023-12-14T11:44:15","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011897"},"modified":"2026-04-22T14:41:59","modified_gmt":"2026-04-22T17:41:59","slug":"galaxy-macau-phase-iii-opens","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/galaxy-macau-phase-iii-opens","title":{"rendered":"Galaxy Macau Phase III opens"},"content":{"rendered":"\n

The new development includes the Galaxy International Convention Center and the Galaxy Arena.<\/p>\n\n\n\n\n\n\n\n

Macau.- Galaxy Entertainment Group (GEG) has opened Phase III of Galaxy Macau<\/strong>.\u00a0This development features the 40,000-square-metre Galaxy International Convention Center (GICC)<\/strong> and the Galaxy Arena, currently the largest indoor arena in Macau with a capacity for 16,000 spectators.\u00a0It also introduces two new hotels,\u00a0Andaz Macau<\/a>\u00a0and\u00a0Raffles<\/a>\u00a0at Galaxy, together providing over 1,100 rooms.\u00a0<\/p>\n\n\n\n

Phase IV, expected to open in 2026, will include six high-end hotels, a 4,000-seat theatre, F&B options, retail spaces, non-gaming attractions and a water resort deck. The company awarded a HK$2.24bn (US$285.4m) subcontract to Far East Facade (Macau), a wholly-owned subsidiary of China State Construction Development Holdings to build the fa\u00e7ade.<\/p>\n\n\n\n

GEG\u00a0posted net revenue of HK$9.7bn (US$1.24bn)<\/a>\u00a0for the third quarter. The figure was up by 11.4 per cent sequentially and 374.4 per cent from the prior-year period. EBITDA was HK$$2.8bn, a rise of 576 per cent when compared to last year and 12 per cent in quarter-on-quarter terms. Gross gaming revenue (GGR) was HK$8.75bn (US$1.12m), up 853 per cent year-on-year and 14.2 quarter-on-quarter.\u00a0<\/p>\n\n\n\n

Galaxy to host 50 concerts and 250 MICE events in 2024<\/h2>\n\n\n\n

In November, the company’s chief operating officer Kevin Kelley <\/strong>said the operator will host 50 major concerts and 250 MICE (meetings, incentives, conferences, and exhibitions) events in 2024.<\/p>\n\n\n\n

Speaking at the MGS Entertainment Show & Summit, Kelley said: \u201cThe Macau SAR Government has the right idea with this objective to evolve Macau from a heavily gaming-centric tourism model to becoming a highly diversified world centre for entertainment and tourism.\u00a0As we move forward into the future, we have to embrace the reality that the success of our past does not necessarily guarantee the success of our future.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The new development includes the Galaxy International Convention Center and the Galaxy Arena.<\/p>\n","protected":false},"author":176,"featured_media":0,"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 (GEG) has opened Phase III of Galaxy Macau, featuring the Galaxy International Convention Center, Galaxy Arena, and two new hotels, with Phase IV slated for 2026. This expansion underscores GEG's strategic pivot towards non-gaming diversification, aligning with Macau's governmental objective to evolve into a world center for entertainment and tourism. The company reported robust Q3 financial performance, including significant GGR and EBITDA growth.","focusai_entities":"Galaxy Entertainment Group, GEG, Far East Facade (Macau), China State Construction Development Holdings, Kevin Kelley","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Non-Gaming ROI","query":"What is GEG's projected return on investment for the non-gaming assets within Phase III and Phase IV, and how does this compare to traditional gaming vertical ROIs?"},{"label":"Diversification Impact","query":"How will the increased non-gaming revenue contribution from Phase III and Phase IV impact GEG's overall GGR dependency and EBITDA margins in the next 3-5 years?"}],"footnotes":""},"categories":[157,16338],"tags":[22935],"class_list":["post-777011897","post","type-post","status-publish","format-standard","hentry","category-business-news","category-east-asia-news","tag-galaxy-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011897","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777011897"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011897\/revisions"}],"predecessor-version":[{"id":777011915,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011897\/revisions\/777011915"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}