Galaxy Entertainment chairman notes that the group will increase non-gaming activities to deal with the changes expected in the wake of the Hong Kong-Zhuhai-Macau Bridge opening in 2020.
Galaxy Entertainment Group chairman Lui Che-woo anticipates that the city’s gaming market and tourism industry will undergo further changes resulting in a more non-gaming focus after the opening of the Hong Kong-Zhuhai-Macau Bridge in 2020, according to an article in Hong Kong newspaper South China Morning Post.
The Galaxy chairman and billionaire predicts that the increasing number of tourists and business travellers coming to stay in the city for non-gaming will increase due to the infrastructure development. The expansion of non-gaming offerings will also result from the continual push by the government for diversification, since the Mainland government launched an anti-corruption campaign, causing the city’s VIP gaming revenue to drop and subsequent tremors be felt throughout the local economy.
“Macau’s hospitality market will see a new phase of development when the Bridge starts operating,” Lui told the publication.
Galaxy said in the announcement of its second quarter results, released last month, that its Phase 3 development plans for Galaxy Macau are expected to include the construction of meetings and conference facilities, focusing on the mass market and including family-oriented activities.
Galaxy’s gaming concession is due for renewal in 2022, but the billionaire offered little comment saying only: “I cannot speak on behalf of the Macau government. We do our best to support Macau government policy,” the publication reported.
Galaxy’s Lui Che-woo sees new infrastructure leading to non-gaming increase