The Macau Metro Monitor, April 26, 2012
GALAXY MACAU (TM) PHASE 2 NEXT MAJOR DEVELOPMENT TO OPEN IN MACAU Galaxy Entertainment
- Construction of Phase 2 began in 1Q 2012. Scheduled to open mid-2015.
- Funding HK$16BN through a combination of existing cash and cash generated from operations and debt. Does not intend to issue equity.
- Phase 2 will include:
- Over 1,300 additional hotel rooms & suites:
- JW Marriott (1,100 rooms)
- Ritz-Carlton Macau (250 suites)
- Gaming: 30k sqm, up to 500 tables & over 1,000 slots
- 45 additional F&B outlets
- Over 65k SQM of retail space/ +160 retail shops
- Meeting, event and banquet space to accommodate 2,000 more patrons
WYNN AND GOV'T TO CLOSE COTAI DEAL ON MONDAY: REPORT Macau Business
According to Jornal Tribuna de Macau, the Cotai land grant contract between Wynn Macau Ltd and the Macau government will be closed next week, with final approval of the land concesssion on Monday, April 30.
Jornal Tribuna de Macau says the public announcement of the deal may not be immediate. Both parties will likely wait for the contract to be published in the Official Gazette, which is expected to happen in the second week of May.