Macau casino operator Galaxy Entertainment Group Ltd (also known as GEG) has signed a MOP13.01-billion (US$1.63-billion) deal with a local unit of China State Construction International Holdings Ltd for the building of Galaxy Macau Phase 4, an addition to the gaming group’s flagship Galaxy Macau resort (pictured) on Cotai.
A Sunday filing to the Hong Kong Stock Exchange by Galaxy Entertainment said the work would take 1,053 calendar days – approximately three years – to complete. A start date was not mentioned, only that it would be “seven calendar days after the issuance of architect’s instruction”.
Galaxy Entertainment’s current Macau gaming rights expire in June 2022, in common with the city’s other five licensees. A public retender process is due to be held in association with the expiries, although the Macau government also has the possibility to extend the current licences for up to five years.
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