Galaxy US$3.5bn Macau pledge includes theme park
Macau casino operator Galaxy Entertainment Group Ltd said on Saturday that nearly 97 percent of the MOP28.4 billion (US$3.5 billion) it has committed to the local government to spend under its new 10-year gaming concession will go on non-gaming, and explore overseas consumer markets. The commitment includes what the company calls the city’s “first and only high-tech theme park.”
The breakdown of the planned investment was given by Francis Lui Yiu Tung (photo), director of the concessionaire Galaxy Casino SA, and also deputy chairman of the listed parent, Galaxy Entertainment Group Ltd. launched Phase 3 of its flagship Galaxy Macau resort in Cotai.
Mr. Lui said his group has pledged a total investment of MOP 28.4 billion to the government, of which an estimated MOP 27.5 billion – or 96.8 percent – will go to non-gaming and exploring foreign customer markets.
Macau six newly-reinstalled casino operators were on a Saturday press briefing their respective ideas for their new 10-year concessions, due to start January 1.
The presentations are after the formal signing on Friday of their new contracts.
As part of its efforts to explore overseas customer markets, Galaxy Entertainment said it would carry out new promotional plans targeting specific overseas markets. Such plans include “setting up overseas offices in Singapore, Thailand and South Korea and launching a host of marketing schemes, such as travel packages, in Japan, Indonesia, Malaysia, India, the Philippines and Vietnam,” the company said.
“These projects will increase awareness of Macau and Galaxy’s entertainment appeal and attract a broad base of visitors” to Macau, the company added.
Galaxy Entertainment said it plans to collaborate with “well-known international brands” to create Macau’s “first-and-only high-tech amusement park, targeting families and leisure visitors”.
“Occupies approximately 61,000 square feet [656,598 sq. feet]the project will incorporate multimedia, interactive and multi-sensory technologies to provide games and rides,” the company added.
The company said its planned art museum and ancillary facilities, with a gross floor area of approximately 7,000 square meters, will incorporate innovative and immersive technologies.
The company said it would “accelerate development plans” for a music and performing arts theater that seats 4,000. It would “provide a high-quality venue suitable for resident musical extravaganzas and well-known international performers,” it added.
The Galaxy Arena, as part of Phase 3 of Galaxy Macau, will open soon, the casino company said. The company said it would present “exciting shows”, and invite “top performers from Macau, Hong Kong, mainland and the rest of the world to stage performances, concerts, culture and art shows”.
Galaxy Entertainment also said it would launch “new health-oriented tourism products and services” that “integrate various health and wellness elements, including innovative ‘tourism + medical treatment’ products. In addition, the company plans “a significant integrated space for health, Creating wellness, recreation and lifestyle, partnering with well-known medical organizations and brands to promote healthy food and wellness,” it said.