• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Galaxy Macau Phase 4 finish target 2024: Francis Lui

May 13, 2022 Newsdesk Latest News, Macau, Top of the deck  


Galaxy Macau Phase 4 finish target 2024: Francis Lui

Building of Phase 4 at the Galaxy Macau casino resort, in Macau’s Cotai district, could be completed “in 2024″, says Francis Lui Yiu Tung (pictured in a file photo), deputy chairman of the property’s promoter, Macau casino operator Galaxy Entertainment Group Ltd.

Mr Lui was speaking to reporters in Hong Kong, on the sidelines of his firm’s annual general meeting on Thursday.

He was asked about an opening timetable for Phase 3 of Galaxy Macau, which is said to be ready. Mr Lui reiterated commentary given in the group’s first-quarter results highlights, and mentioned in previous quarterly or half-year updates: that its launch would be tied to “prevailing market conditions”.

Galaxy Entertainment had reported positive quarterly earnings before interest, taxation, depreciation and amortisation (EBITDA), but several Macau operators had already reported negative EBITDA for the three months to March 31.

Factors affecting earnings, say investment analysts, have included periodic restrictions on travel from mainland China to Macau amid Covid-19 outbreaks on the mainland, and a sharp decline in VIP gambling business, coinciding with the operators largely for now ending cooperation with third-party junkets, as well as mainland China tightening controls on cross-border money transfer.

Galaxy Phase 3 and 4 combined – which the operator describes as having a “strong focus on non-gaming” – will provide approximately “3,000 high-end and family rooms and villas”, and a 16,000-seat, multipurpose arena. There will also be space for meetings, incentives, conferences and exhibitions (MICE) business, food and drink outlets, and shops, as well as casino facilities, according to the firm’s latest results filing.

On Thursday deputy chairman Mr Lui also made brief remarks on Macau’s anticipated new public tender for gaming rights. The current six operators are due to see their rights expire on June 26, although they have respectively applied for an extension until December 31, at the local government’s invitation, while it prepares plans for a new concessionary setup.

Mr Lui said: “We anticipate that, by June 26… the Legislative Assembly will vote [on] and approve” an amendment to the city’s gaming law. The local government said that is a necessary step before there can be a new concessionary regime.

The Galaxy Entertainment boss added: “We are very confident that the [Macau] government will, after July, start the public tender work within a short period of time. We also believe that the government… will complete the [public tender] work by year-end, so that our operation can seamlessly continue into next year.”

The gaming law amendment affirms Macau will have no more than six concessions, and no sub-concessions; and a gaming concession period of up to 10 years – with some leeway for short extensions – rather than the maximum 20-year concession lifespan – with the possibility of short extensions – permissible under the current gaming regulatory framework.

A report issued in March by banking group JP Morgan, said it expected a new public tender process to start in the third quarter this year, with permits to be awarded in the fourth quarter, ready for a new 10-year licence period coinciding with the beginning of 2023.


  • tweet
Related articles
  • Raffles hotel checks complete at Galaxy Phase 3: MGTO
    Raffles hotel checks complete at Galaxy...

    Mar 27, 2023  

  • Galaxy 2022 loss US$438mln, Galaxy Macau Phase 3 in 2Q
    Galaxy 2022 loss US$438mln, Galaxy...

    Feb 23, 2023  

More news
  • Pagcor chairman keynote speech at SiGMA Asia
    Pagcor chairman keynote speech at SiGMA...

    Mar 28, 2023  

  • 3-month eVisa plan to boost Vietnam tourism: report
    3-month eVisa plan to boost Vietnam...

    Mar 28, 2023  


Latest News

Pagcor chairman keynote speech at SiGMA Asia

Pagcor chairman keynote speech at SiGMA Asia

Mar 28, 2023  

Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
Read More
3-month eVisa plan to boost Vietnam tourism: report

3-month eVisa plan to boost Vietnam tourism: report

Mar 28, 2023  

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us