The latest plans announced by Galaxy suggest Cotai’s Phase IV works will be completed by 2021, just months before the company’s current concession expires. If there are delays again, an unusual scenario would emerge . . . if it is not the case that everyone takes for granted the ‘renewal’ of their gaming licence.
To occupy the mega-space that has been assigned to it the Hong Kong company has been engaged in works practically since it obtained its concession.
Works are currently primarily being carried out on Phase III. According to Francis Lui Yiu Tung, Vice chairman of Galaxy Entertainment Group Ltd., it will now open in 2020 (not in 2019 as previously suggested) but it is true “Phase III has largely maxed out for the time being as the company awaits various government approvals,” as stated by Union Gaming. Additionally, design work continues to progress on Phase IV.
Phase III is to feature 1,500 hotel rooms, a large-scale arena of some 16,000 seats, 400,000 square feet of space for MICE events, and, of course, casino space. Phase IV has been presented as a non-gaming space, tailored to families, featuring 3,000 hotel rooms.
The cost of the work, which began in 2016 (and was delayed due to the “new government requirements which we are obliged to follow”, said the company) will be in the region of HK$45 billion, the cost of the first two phases of the Galaxy complex in Cotai (the all-new SJM Cotai resort will cost HK$36 billion).