Galaxy to Spend Up to HK$60 Billion in Casino Expansion
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Galaxy Entertainment Group Ltd., the Macau casino operator founded by billionaire Lui Che Woo, plans to spend as much as HK$60 billion ($7.7 billion) to expand operations on the increasingly popular Cotai strip.
The company will spend the money on the third and fourth phases of Galaxy Macau, its flagship casino resort in Cotai that opened in May 2011, Chief Financial Officer Robert Drake said in an interview yesterday. Galaxy has said it will start construction of the two phases as early as the end of this year and begin operations gradually from 2016 through 2018.