Galaxy Entertainement MacauThe Galaxy entertainment Group which owns and operates several hotels and casinos in Macau has posted very positive results for 2013 which was a great year for the group’s continuing expansion in Macau. Galaxy entertainment’s subsidiary Galaxy Casino S.A was granted a gaming licence from the Macau authorities twelve years ago and since then the company has been greatly increasing its share of Macau’s gaming industry which is worth 45 billion dollars in total. Galaxy developed its first City Club casino in 2004 and then opened three more City Club casinos over the next two years.
The development of these casinos led to the company opening its first leisure and entertainment complex, the Star World Hotel which combined luxury hotel accommodation, a casino, entertainment and restaurants. This complex was a forerunner of Galaxy Entertainment’s integrated casino resort, Galaxy Macau. Galaxy Macau was Macau’s first integrated resort.The company is now constructing the second phase of its Galaxy Macau integrated casino resort. This phase is to be completed by the middle of next year when the gaming and entertainment complex will become almost twice its initial size. Plans to develop phases three and four of Galaxy Macau have been revealed and they should be open to clients between 2016 to 2018. The company has stated that its excellent results for 2013 are due in part to the development of its casino resort on the Cotai Strip as well as having greatly reduced its borrowing.While Macau continued its phenomenal growth in the gaming sector again last year, the Macau authorities have let it be known that they want the economy to diversify from reliance on just gaming to the broader range of leisure and tourist activities that one can now find in integrated casino resorts. The Galaxy Macau casino resort brought in 1.3 billion dollars in 2013 which is up over 40% from its income in 2012. This luxurious casino complex attracts many high roller players and the revenue from these accounted for almost three quarters of the company’s income for last year.