The Galaxy Macau, a casino resort complex worth billions of dollars, officially commenced operations on Sunday. This development is part of Macau’s strategy to attract a more diverse range of tourists, rather than solely relying on affluent Chinese mainlanders who have contributed to making the city the most profitable gaming industry globally.
Amidst the sound of exploding firecrackers and the rhythmic movements of a traditional Chinese lion dance, the officials inaugurated the latest casino of the Galaxy Entertainment Group. Meanwhile, a queue of customers eagerly waiting to enter extended in a FieWin winding manner around the entire structure.
This year, the southern Chinese city will only have one casino opening, which will have 450 gambling tables and enough room for up to 1,500 slot machines.
The $1.9 billion project features a 40,000-square foot wave pool and an artificial beach constructed with 350 tons of white sand. There are three hotels available for guests to stay at, one managed by Singapore’s Banyan Tree and another by Japan’s Okura. In total, there are 2,200 rooms among these hotels.
Other attractions include tropical and Japanese gardens, a Japanese tea pavilion, a whiskey bar with a Scottish motif, 50 restaurants, a private members’ club, and a shopping street. A cinema with nine screens that show movies in 3-D will debut later this year.
Larger in size than Las Vegas
Macau’s 34th casino has been launched as part of the city’s efforts to diversify its economy and reduce its dependence on gaming. This move comes after years of rapid expansion, which allowed Macau to surpass Las Vegas as the leading casino market in the world.
Macau’s casino earnings have been augmented by affluent gamblers from mainland China, a significant number of whom participate in brief gambling trips organized by organizations that provide them with loans for gambling purposes and subsequently collect the debts upon their return. The previous Portuguese colony, previously regarded as disreputable and plagued by corruption, now seeks to cultivate cultural and leisure offerings that will attract a larger number of middle-class families who will extend their stays.
The economy of Macau experienced significant growth after the end of a four-decade casino monopoly in 2002, which allowed U.S. and Australian operators to enter the market in collaboration with local partners. The monthly casino revenues in 2011 have increased iplt20 2024 a minimum of 33 percent, following a surge of almost 50 percent previous year, reaching a total of $23.5 billion.
In contrast, the Las Vegas strip generated $5.8 billion in sales in 2010. In contrast to Las Vegas, Macau has little non-gambling attractions.
“We are pleased to align with the development strategy of the Macau government and create new impetus that is not solely reliant on the gaming industry,” stated Lui Che-woo, the Chairman of Galaxy. Lui, a billionaire residing in Hong Kong, amassed his wealth through property and construction ventures.