Galaxy Entertainment Group in Macau is set to open two greatly anticipated properties in just a couple of weeks. However, this could prove to be a troubled launch as reports indicate that  there have been no tables assigned to the $3 billion project by the government. Some reports state that the government simply has not made up its mind on table allocation yet.

Galaxy Macau Phase 2 and the Broadway Macau across the street are set to open on May 27th. The government received table requests on April 15th. Analysts are anticipating 150 tables. The Grand Waldo, that Broadway is replacing, had 45 tables operating under the Galaxy license. Some media outlets are reporting activity at Galaxy Phase 1 such as re-positioning slots and electronic table games – that may be in anticipation of reallocating some pieces from Phase 1 to Phase 2.

Macau’s future seems uncertain due to the continued crackdown from Beijing. Due to this crackdown, the Macau revenue from gaming has been significantly reduced. Stocks for casinos such as Las Vegas Sands and Wynn Resorts have dropped right alongside all others. Galaxy stock is down by 37% from over the last 12 months.

Leave a Reply

Your email address will not be published.