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Galaxy Entertainment Group hires construction firm, flags commencement of Galaxy Macau Phase 4 development

Macau’s Galaxy Entertainment Group (GEG) has entered into a legally binding Letter of Intent with China Construction that will see the latter provide construction and related services for Galaxy Macau’s Phase 4 development at a cost of MOP$13.01 billion (US$1.63 billion).

According to information filed with the Hong Kong Stock Exchange overnight, China Construction – a subsidiary of China State Construction International Holdings Limited operating mainly in Macau – will provide “construction and related services including but not limited to management, temporary works, general facilities and attendance, application and management of labour quota; construction of basement box structure, structural carcass, link bridges; and construction and completion of all specialist work packages through nominated subcontractors/suppliers and/or direct contractors,” for Galaxy Macau Phase 4.

Source: https://www.asgam.com/index.php/2021/02/22/galaxy-entertainment-group-hires-construction-firm-flags-commencement-of-galaxy-macau-phase-4-development/

As of the end of 2020, there were some 17 hotel developments under construction, which, representing some 8,607 rooms to be added to the local market, according to data from the Land, Public Works and Transport Bureau (DSSOPT).

In total, all 177 projects cover some 482,360 square metes of the gross construction area and will add some 4,234 light vehicle and 1,198 motorbike parking spaces.

The Sands China revamp of Sands Cotai into The Londoner is set and add some 594 suites and 368 service apartments, while SJM’s Grand Lisboa Palace to offer 2,000 hotels in its three hotels and the nearby Lisboeta Hotel to add some 539 rooms. All three properties are scheduled to have some kind of phased opening starting from February of this year.

Source: https://www.macaubusiness.com/under-construction-hotel-projects-to-add-8607-extra-rooms

Analysts at investment bank Morgan Stanley have labelled the current price of Macau gaming stocks as too low, suggesting prices are certain to rise in late 2021 and into 2022 on capacity expansion, concession extension and rising demand from Chinese luxury consumers.

In a Friday note, Morgan Stanley’s Praveen Choudhary, Gareth Leung and Thomas Allen lower their 2021 Macau GGR estimates by 10% to MOP$189 billion (US$23.6 billion) due to travel remaining sluggish, but increase their 2022 GGR and EBITDA estimates, with EBITDA now expected to be 8% higher in 2022 than in 2019 at US$10.27 billion due to mix improvement and cost cutting during the COVID-19 pandemic.

According to Morgan Stanley, there is considerable upside potential for Macau in three key areas. They include Macau’s gaming concessions, all due to expire in mid-2022 but which the analysts expect to be extended by three years and announced in mid-2021.

Also notable is new hotel room capacity, with three major new developments due to open in 2021 by way of Grand Lisboa Palace with 1,900 rooms, Galaxy Phase 3a with 800 rooms and The Londoner Macao which partially opened in 2020.

Source: https://www.asgam.com/index.php/2021/01/11/macau-gaming-stocks-seen-gaining-value-in-2h21-as-concession-extension-new-hotel-room-supply-drives-gains/

Sands China is recreating famous London streets along with retail and dining experiences at the Macao’s Cotai Strip. Called ‘The Londoner Macao’, the development is expected to become a new destination for retail and dining experiences in the territory beside its luxury hotel network.

“The moment visitors step foot on the sunlit retail district of The Londoner Macao, they will feel transported to London’s classic shopping streets: chic boutiques at Bond Street, Mayfair and Savile Row, and quaint stores in Soho and Covent Garden,” the company said in a statement. Construction of the retail mall is already underway and will be completed next year.

Source: https://insideretail.asia/2020/12/17/countdown-begins-to-londoner-macao-opening-including-retail-strip/

The Galaxy International Convention Center (GICC), which is set to open its doors in early 2021, has begun to take proposal requests via its official website.

The venue will be integrated with Galaxy Macau, offering 10,000 square metres of pillar-free space with capacity for up to 7,000 delegates, making it a major MICE tourism destination for the region. It will offer additional private venues for conferences and gala banquets, the company said in a recently released video, plus the Galaxy Arena auditorium with 16,000 seats for entertainment events.

The Galaxy Macau’s expansion project includes around 4,000 hotel rooms and villas, family and premium high-end rooms, luxury retail stores and casinos. It will connect with the Andaz Macau hotel, also set to open in 2021 through a collaboration between Hyatt Hotels Corp, Andaz and the Macau casino licensee.

Source: https://focusgn.com/asia-pacific/galaxy-international-convention-center

If you want to travel to Macau you can now choose if you want to quarnatine at some of the newest hotels that haven't even opened to the public yet!

Hotel rooms at the Sheraton Grand Macao hotel at the city’s Sands Cotai Central casino resort, have again been allocated for Macau government use amid the city’s response to the Covid-19 emergency. A novelty is that Sheraton Grand Macao can now decide how much it will charge to those inbound to Macau and choosing to stay at the property under a compulsory 14-day medical observation period before being allowed into the community.

The hotel is operated by Sands China Ltd, a unit of United States-based casino group Las Vegas Sands Corp. Sands Cotai Central is currently being revamped and rebranded as the Londoner Macao. The use of some of the Sheraton Grand Macao’s facilities was outlined in a Monday announcement by the Macau government. The role of that portion of the hotel will take effect on December 20.

The hotel at the yet-to-open Lisboeta Macau will also be used for medical observation in Macau starting December 20, according to the local authorities. That property’s management will also be able to decide its pricing strategy for people staying at its facilities for medical observation.

The Macau government had already given an operating licence and four-star rating to the hotel portion of Lisboeta, according to an official statement published in August. In comments to local media in June last year, SJM Holdings’ chief executive, Ambrose So Shu Fai, had acknowledged the possibility of gaming being offered at Lisboeta Macau, under a so-called service agreement that would make use of SJM Holdings’ Macau gaming licence.

Source: http://www.ggrasia.com/sands-china-sheraton-lisboeta-for-macau-quarantine-use/

Gaming and tourism company Genting Hong Kong Limited has announced that its ferry cruise subsidiary, Star Cruises Asia Holding Ltd, has agreed to sell half its stake in its local subsidiary responsible for an integrated resort project in Nam Vam Lake for HK$750 million (US$96.7 million) to a company owned by local real estate businesswoman, Ao Mio Leong.

Ao is connected to real estate development company Yoho Group, which has been involved in the development of the Macau Roosevelt Hotel at the Macau Jockey Club land plot; the Yoho Twins and the Co-Tai Marina Bay project.

As previously reported by MNA, China Civil Engineering Construction Corporation had already completed the capping of the main structure of the new integrated resort Resorts World Macau, Lago 1 project at the Nam Van Lake on June 23. Genting expressed in its most recent annual report that it planned to develop a hotel and casino in the site.

Previous public development plans for the property including the construction of a 21-storey building for a five-star hotel with a gross floor area of 70,284 square meters, a parking lot of 12,080 square meters and a free area with an area of 5,581 square meters.

This is what the resort is projected to look like when finished.




Source: https://www.macaubusiness.com/resorts-world-hotel-project-being-developed-in-nam-vam-lake/ & https://www.macaubusiness.com/genting-to-sell-half-its-stake-in-local-unit-responsible-for-nam-vam-lake-integrated-resort/

One unique Food & Beverage concept developed for Studio City Macau was the 'Marquee' Sky Bar, proposed to be located within the property's icon signage, nearly 500' feet above the Cotai Strip.

Legacy Entertainment's resort design and master plan for Studio City Macau features 3 main entrances to the resort, with each one sporting a different motif relating to the property's theme of cinema. One such entrance on the backside of the property, unofficially dubbed the "Adventure Gate", was inspired by exotic locales of epic adventure films. This entrance primarily caters to rides of the Macau Light Rail, and is also the nearest entrance to the Lotus Bridge which connects the Cotai Strip with Zhuhai / mainland China.

In honor of Studio City Macau's 5th anniversary, here is a look at some of Legacy Entertainment's earliest sketches of the iconic Cotai Strip property.

Legacy's mandate was to execute the vision of Melco Chairman Lawrence Ho, realizing a "Gotham City-inspired" exterior design motif. While it has been noted in the press that Studio City's iconic Golden Reel ferris wheel was inspired by Mr. Ho's concept of an asteroid having penetrated the building, this is the first time this early artwork has ever been shown.