A new hotel at Macau Fisherman’s Wharf is ready but not yet open to the public because it lacks full government licensing, said David Chow Kam Fai (pictured), chief operating officer of casino services firm Macau Legend Development Ltd, speaking on Saturday. The company owns the waterside collection of leisure facilities.
Macau Legend on Saturday hosted a ceremony to mark the completion of the four-star Harbourview Hotel in Fisherman’s Warf. The hotel has no gaming facilities but is connected via skywalks to Babylon Casino.
Macau Legend doesn’t have a Macau gaming licence in its own right, but instead operates the Babylon Casino at Macau Fisherman’s Wharf and the Pharaoh’s Palace Casino at the nearby Landmark Macau hotel on Macau peninsula under a SJM Holdings Ltd licence.
Mr Chow on Saturday said the new hotel is expected to be operational in December. It features 444 rooms and suites. Fisherman’s Wharf already has one hotel, the 72-room Rocks Hotel.
The first phase of the Macau Fisherman’s Wharf Marina – offering 18 berths – was also announced on Saturday as being formally completed.
The multi-stage revamp project for Macau Fisherman’s Wharf is priced at about HKD6 billion (US$774 million). It will be finished only by 2017.
According to media reports, during Saturday’s ceremony, Mr Chow added that Macau Legend had already placed in Babylon Casino the 35 additional gaming tables it recently received from the Macau government. The tables will eventually be used for premium mass gaming operations, according to the reports.
Macau Legend’s interim report 2014, filed on September 10, said that as of June 30 this year, Babylon Casino had 19 gaming tables – all for the mass market – and 120 slot machines that were at that date “temporarily not in operation”.
Mr Chow on Saturday also revealed plans to install an electronic gaming hall in one of the existing buildings in Macau Fisherman’s Wharf.
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”As the Macau gaming revenue structure is now leaning heavily towards the mass business … once the border fully reopens, the recovery from mass should drive the sector to bounce more swiftly”
Vitaly Umansky, Louis Li and Shirley Yang
Analysts at Sanford C. Bernstein