Galaxy Macao Phase 3 and 4 will be mainly non-game facilities
Galaxy Macau Phase 3 and 4 will see virtually all floors used for non-game facilities, said Galaxy Entertainment Group Ltd. Louis Chew Galaxy Entertainment Group Ltd. The chairman announced the changes in this annual report.
Galaxy Entertainment will begin construction at the end of the first quarter or the beginning of the second quarter of 2017, and by default, all floors will be allocated to non-gaming, primarily targeting MICE, family facilities and entertainment. The term MICE refers to the non-gaming activity segment for conference incentives, conferences, and exhibitions.
Investment analysts found that gaming zones in integrated resorts will often have a higher rate of return than non-game zones. Because of this, a small portion of the resort floor can actually provide most of the real estate revenue.
In the document, the Commissioner mentioned not only the central government of China but also the central and platform policies of the Macau government, along with the tourism industry plan of Macau. The chairman says the central government has repeatedly expressed support for Macau in the development of a center, a platform that helps Macau benefit. According to Louis Chew, the upcoming tourism industry plan is another example of the government’s efforts to help the sector.
The report followed the chairman’s comments that Galaxy Entertainment is ‘positive for Macau’s long-term prospects and expects recent signs of stabilization to translate successfully into a sustainable recovery.’ The Speaker acknowledged that in the short term, regional competition will increase and the regulatory environment will be strengthened.
Galaxy Entertainment Vice Chairman Francis Ruyutung said the third and fourth phase of the investment budget will be at least $5.54 billion, and the venues will be focused on young adults and families, he said. 바카라