USEUROPEAFRICAASIA 中文双语Français
Home / Comment

Galaxy to spend $7.4b on Macao expansion

By Bloomberg | China Daily | Updated: 2015-01-24 08:02

Galaxy Entertainment Group Ltd, the casino operator controlled by billionaire Lui Che Woo, plans to spend about HK$57 billion ($7.4 billion) more to expand in Macao and will recreate New York's Broadway theater to woo more visitors.

The company will add a 3,000-seat entertainment theater in Macao, Lui said on Friday at a news conference in Hong Kong. Galaxy said in a statement it has committed HK$100 billion to Macao's Cotai strip, with a part of it already invested.

Galaxy joined casino operators including Melco Crown Entertainment Ltd and Sands China Ltd in shifting resources away from high-rollers to draw vacationing Chinese and other mass-market gamblers as Macao diversifies its economy, which relies on casinos for more than 80 percent of government revenue.

Galaxy to spend $7.4b on Macao expansion

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US