Galaxy Opens $1.9 Billion Macau Casino After 2-Year Delay
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Galaxy Entertainment Group Ltd., part-owned by Permira Advisers LLP, opens its HK$14.9 billion ($1.9 billion) casino resort in Macau today after an almost two-year delay because of the credit crisis.
The 450-table, 2,200-room Galaxy Macau may help Hong Kong billionaire Lui Che-woo’s company reduce its reliance on high-stakes gamblers, said Donald Cheng, a Hong Kong-based analyst at Haitong Securities Ltd. Galaxy’s StarWorld casino made about 90 percent of first-quarter sales from gamblers betting as much as $250,000 a hand.