As you read this, billionaire Lui Che Woo, chairman of Galaxy Entertainment Group, is supplementing his superfluous bank account with dinging slots, riffling cards, and shuffling chips playing in the background. He’s not the only one who will be reaping his share of winnings though. Steve Wynn, U.S. casino mogul and chief executive of Wynn Resorts Ltd. and Wynn Macau Ltd. will also be swimming in infinite pools of green thanks to the opening of China’s newest retreat for habituated gamblers, the Galaxy Macau, a casino and hotel venture in Cotai, Macua.
Reuters reports that at an annual meeting in Macau, a former Portuguese colony, Wynn said, “I think that the Macau market growth rate for the first quarter will be exceeded in the future because of Galaxy.”
Gaming revenues in that golden gambling enclave have exploded over the past year, dominating their western rival four times over, meeting Las Vegas’ year-long total in earnings of $10 billion in merely a four month period.
Following a two-year delay after suffering from a credit crisis, Lui Che Woo expressed his poise in the property’s potential saying, “By integrating traditional Asian culture with Western management style, we have created a business model with ‘World Class, Asian Heart’ that will drive the success of our signature property, Galaxy Macau, and help realize Macau’s vast potential as a tourism destination [with the provision of] holiday features that have not previously been offered in the market. We believe this will help attract more visitors from different countries, extend their staying period in the city and create a more diversified destination choice for local, Asian and international travellers.”
All avenues of grandeur were exhausted in creating the magnificent Galaxy Macau which officially opened its doors on May 15, 2011. An elaborate ceremony officiated by Vice Chairman of the Chinese People’s Political Consultative Conference Tung Chee-hwa, Honorable Fernando Chui Sai On, Vice Chairman of the Chinese People’s Political Consultative Conference Edmund Ho, representative of the Liaison Office of the Central People’s Government in Macau Chang Yuxing, and hosted by and Woo and Francis Lui, chairman and vice chairman of Galaxy Entertainment Group entertained 3,000 VIP attendees and more than 20, 000 guests.
The richly appointed five-star accommodations total a collective 2,200 five-star rooms, suites and villas. The hotel also offers a 350-ton white sand beach, lush gardens, a 4,000-square-meter rooftop wave pool, a commodious Banyan Tree Spa, and features more than 50 international food and beverage options.
The rambling and well-executed integrated grounds have already gobbled up a sum of $14.9 billion to bring to fruition, an investment well worth its weight in gold. And they’re not done yet. In the final quarter of this year the hotel plans to open China Rouge, a so-called hybrid private membership club, performance theatre with a bar and restaurant as well as a 9-screen multi-function cinema theatre.
Source: [Luxury Insider]