In efforts to appeal to the market demands in Macau, Galaxy casino group has announced plans to introduce new exciting facilities in the near future.
Macau is the world’s largest gambling hub where millions of people go to every year to realize their gaming potential. The offers available to regular gambling enthusiasts are incredible. Anything that they may desire will be afforded to them at any time, such is the reputation that Macao holds with any visitors that decides to experience what serious gambling is all about.
However, in recent times the gaming mecca has seen a slight decrease in its earning potential. According to gambling news, part of the reason for this is that different forms of entertainment has been lacking and in otherwise busting town that never sleeps. That is why Galaxy Entertainment Group Ltd. has decided to commence with plans that will see them introduce new services capable of attracting more visitors.
Thrilling new developments
As part of an initial project to increase the entertainment value, Cantonese pop music star that goes by the name of Alan Tam has been hired to appear in an already sold-out 3,000-seater Broadway Theater. The concert hall actually forms part of the large casino complex where thousands of visitors come to on a yearly basis. However, the hall is only one piece of the ambitious project, while the other half concerns the casino itself, online internet casinos report.
Galaxy Entertainment believes that the new non-gaming features will catch the attention of tourists that are not entirely interested in gambling. They aim to make considerable investments to get families to stay longer and experience another side to Macau than before. The lavish city has seen its gaming revenue fall down a staggering 37% this year, the primary reason for this being political corruption cases and economic instability in China. This can so far prevented many high-rollers from coming to their favourite and closes gaming hub, which led to the downturn in economic performance. Macau gambling laws are somewhat strict, which has also at times blocked some potential investments.
An analyst known as Stephen Yang from the brokerage firm Sun Hung Kai Financial Ltd stated his confidence in Galaxy Entertainment and their projects for the near future. “The one thing Galaxy is known for is their focus on Chinese gamblers and tourists.” Yang also commented that it’s important for the big casino firm to be looking at their core strengths if they want to remain competitive in the market. “It’s positive they’re looking at who their target audience is as the demand is there – it’s just been suppressed by the government policies.”
The Galaxy Group is owned by billionaire Lui Che-Woo, who is behind numerous investments and has no plan of stopping anytime soon. The influential owner wants the project to be spectacular for all that come to his entertainment the establishment. There are even plans to have live street performances and even a special market at the Broadway Macau. People will be able to taste both local and Chinese food. Right next to that, another Galaxy Macau resort will open up around the Cotai area with numerous lavish stores and fine dining.
Hopes are high for the new projects
• Galaxy Entertainment plans new exciting projects
• Shows and entertainment will become more important
• Macau revenues has experience a downturn in recent times
deputy chairman of Galaxy, Francis Lui, stressed that the casino and entertainment industry in Macau is currently undergoing some challenging times. “We are facing a pretty tough period.” However, that is why potential earnings from non-gaming elements is expected to rise by double-digits. Lui also added, “We would only see in the next two to three years whether non-gaming features can be developed.” This is supposed to account for nearly 50 percent of Galaxy’s casino revenue.
Although the real figures show a downturn in financial performance, some industry individuals believe that Macau is still among the most favoured destinations in the world, according to mobile casinos. Herve Humler, the current president of Ritz-Carlton Hotel Co., said, “Macau has done very well; you have a little bit of slowdown but it’s still a world destination.” The Ritz-Carlton president believes that Macau has the capacity to welcome the new demand with open arms, since they have all the necessary facilities in place.
It is believed that a third of the visitors that come to Macau, come from the Chinese Guangdong province, which is essentially the main neighbour. Sung Hung Kai’s analyst Yang explained the importance of offering a broad and encompassing service to potential visitors. “You want to experience something different when you’re travelling. There’s a variety for Chinese tourists to experience when they go to Macau from one property to another.”