May
15
Galaxy announces Banyan Tree Hotel at Mega Resort
Filed Under Macau, Macao, Cotai, Galaxy, Cotai Mega Resort, Banyan Tree Hotel | Leave a Comment
Banyan Tree to create a luxury resort featuring luxurious suites, pool villas and its award winning spa in Galaxy’s mega resort in Cotai 15 May 2008, Hong Kong / Macau - Galaxy Entertainment Group Limited (”Galaxy” HKSE:0027) today announced an agreement for Banyan Tree Holdings Limited (”Banyan Tree” Singapore:B58), a leading Asian resort hotel brand, to develop and operate a luxury resort featuring luxurious suites, pool villas and its award winning spa resort in the Galaxy mega resort in Cotai, Macau. Read more
Dec
16
Hotel Okura, Cotai Macau
Filed Under Macau, Macao, Cotai, Galaxy, Cotai Mega Resort, Hotel Okura | Leave a Comment
Galaxy has announced who will be managing one of its first three hotels at its Cotai Mega Resort (or is it GalaxyWorld Resort?) in Macau. Its Japanese hotel operator Hotel Okura. The company is still keeping its mouth shut about the other two hotel though.
Here is part of an article from Kyodo News Service…
“Tokyo-based hotel chain operator Hotel Okura Co. said Tuesday it will make a foray into Macao to take charge of the operations of a hotel set to open in the territory in September 2009 in a bid to boost its presence in Asia.
Hong Kong-based Galaxy Entertainment Group is developing the project and Hotel Okura will be responsible for the operations of one of the three hotels that will be built by the group as part of a major resort complex on Cotai , the two Read more
Oct
11
Galaxy gets new investor for big Cotai plans
Filed Under Macao, Cotai, Wall Street, Galaxy | Leave a Comment
There has always been some concern that Galaxy did not have the financial flexibility to finish up the GalaxyWorld Resort (although it looks like they’re back to now calling it Cotai Mega Resort again). And lets not forget that they have plans for nine more hotels on their Cotai site.
This big investment by a large Private Equity player will go along way in allowing Galaxy to build whatever they want in Cotai. Read more
Sep
18
Galaxy gets approval for huge Cotai plans
Filed Under Cotai, Galaxy, Cotai Mega Resort | Leave a Comment
I knew Galaxy Entertainment had plans to expand their Cotai Mega Resort hotel casino in the Cotai, but this is alot bigger than I had expected. 9 more hotels!!! Read more
Sep
18
Galaxy World Resort on Cotai
Filed Under Macao, Cotai, Galaxy, Cotai Mega Resort | Leave a Comment
Here is an update on Galaxy’s GalaxyWorld Resort, or the Cotai Mega Resort (depending on what you’re reading), from the company’s recent press release. The company is building GalaxyWorld Resort in Cotai between the Venetian Read more
Jun
26
Changes to Galaxy’s Cotai Mega Resort
Filed Under Macau, Macao, Cotai, Galaxy, Cotai Mega Resort | Leave a Comment
er…make that GalaxyWorld Resort?
Galaxy Entertainment provided an update to investors that can found on their website. I notice three changes to their Cotai strategy.
The most noticeable is what appears to be a namechange to the casino resort. I’ve seen it called Galaxy Mega Resort or Galaxy Cotai Mega Resort in the past, and it still appears that way on their website. On their presentation however, it clearly looks like the name is GalaxyWorld Resort. I guess they’re trying to keep the brand more in line with their StarWorld casino hotel on the peninsula.
Second, it looks like they have added a second hotel tower to phase I and have increased the number of hotel more rooms. There is now a second tower listed on the presentation that will provide an additional 1,000 rooms. In the past, the company has said they will open with “a hotel” that will have 1,500 rooms. The fact that Galaxy must feel comfortable enough with their outlook on Cotai and Macau to increase their hotel capacity by 67% should probably be viewed as a positive for the hotel market, expecially in light of Wynn’s decision to push back his Wynn Macau expansion and Wynn Cotai plans. The counter argument though could be that Galaxy was concerned that they may not get enough mass and foot traffic to fill that “mega” casino of theirs, so they had to build more rooms.
Finally, it looks like they are planning on getting a separate hotel operator to manage the new tower #2 of the Cotai resort’s phase I. Looks like they’re doing what everyone else has already decided to do. That’s probably smart as it will open them up to a broader customer base through their partner’s already existing database.
The details of their Cotai project are now…
- Twin towers with 2,500 rooms, suites, and villas. Tower 1 will be contain 1,500 rooms and will be operated by Galaxy while tower 2 will have 1,000 rooms and be operated by a yet unnamed hotel company.
- 250,000 square feet of gaming space with 350 table games and 1,200 slot machines with room to expand to 700 table games and 4,000 slots.
- An additional 70,000 square feet of VIP and high limit gaming club (70 tables with space for up to 120 tables)
- Shopping, entertainment, spa, F&B, theatres, rooftop garden, wave/pool and cabanas
Feel free to discuss the changes in the Cotai Mega Resort forum or the Galaxy Entertainment forum.
Jun
6
Summary of Cotai casino companies
Filed Under Macao, Cotai, Las Vegas Sands, Melco PBL, Wall Street, COMPANIES, Wynn, Galaxy, SJM, MGM & Pansy Ho | Leave a Comment
Stumbled across this blog entry that I thought you guys could find useful. A nice analysis of the companies involved in developing the Cotai casinos.
Here it is: CNAnalyst.com
Apr
20
Galaxy beats Sands
Filed Under Macau, Macao, Cotai, Wall Street, COMPANIES, Galaxy | Leave a Comment
Nobody to Somebody.
Gala
xy Entertainment had their 2006 conference call a few days ago that I will write about tomorrow. In the meantime, I wanted to write a quick entry how Galaxy joking referred to this Macau Business article with the headline “Galaxy Surpasses Sands in Market Share” to give themselves alittle pat on the back. The company sent this article out to people on their mailing list and someone forwarded it to me. (Its saved as a picture so when you click on it make sure you enlarge the picture so you can read it) *more below the ads*
You do need to hand it Galaxy, they went from nobody to somebody in just a few short years. The real test will come when they break-out Starworld’s results on their next earnings release.
Jan
20
Lui Che Woo…the anti-Sheldon
Filed Under Macau, Cotai, Wall Street, Galaxy | Leave a Comment
Billionaire is developing Cotai at his own pace, and for better or worse, his own money.
Forbes wrote a great piece on Lui Che Woo and should be a must-read for anyone looking to learn more about the individual or his company Galaxy Entertainment.
Discussing his plans for Cotai, it is obvious that Lui Che Woo and Adelson see Macau and Cotai much differently. Lui Che Woo says the main reason for the parting of Galaxy and LVS was because Woo wanted to invest in Macau and Cotai more slowly than Adelson.
Pace of investment is not the only difference between Galaxy and LVS though, as Galaxy shares somes insights on its own views of Macau and Cotai:
“I believe Macau does not have to be a replica of Las Vegas,” - Lui Che Woo
“Even though we have one of the largest land banks in Macau, we are not using it all up from day one. We want to see how consumer tastes develop. This kind of risk-averse strategy is the fundamental difference between us and others.” - Lui Che Woo’s son, Francis - when discussing the 3.1 million square feet of unused land in Cotai that it is not yet being developed as part of Galaxy’s Cotai Mega Resort project ***MORE BELOW THE ADS***
Also discussed in the article is the speculation that Galaxy could be overextending its limited financial resources, since the company needed to unexpectedly issue convertible bonds to help fund the Cotai Mega Resort. Additionally, Forbes reports that some Macau officials have said that Galaxy is not living up to its end of the bargain and doing enough to develop in Macau, as the company and the other concessionaires promised to build integrated resorts that went beyond the usual hotel and casino resorts. So, not mentioned in the article but if you put two and two together, you might ask yourself whether or not Galaxy had no choice but to invest more slowly than LVS due to its financial situation.
What is Galaxy’s next step? Will the company merge or be acquired by another casino company out of necessity? Lui says:
“We’ve been contacted by a lot of people that want to invest in Macau. We would only consider partnering with an experienced partner that can provide good concepts or methods. We don’t need this now.”
Jan
3
Macau & Cotai stabs, jabs, and family fueds
Filed Under Macau, Cotai, Las Vegas Sands, Wynn, Galaxy, SJM | Leave a Comment
Cotai and Macau quote galore!
There is a great, detailed Bloomberg article today about Macau. There is not much in the way of new news, but it covers a broad range of Macau and Cotai subjects. Plus, what would a Macau article be without stabs, jabs, bickering, and family fueds?
Money manager: “In 10 years, Macau will resemble Vegas on steroids”
Adelson: “Forget about the dating services. You can’t make a better match than bringing casinos to Asians.”…”I find it startling. Apparently he hasn’t got to the point where he realizes there’s competition.”…“It’s just like a person in the desert needs water. These people need entertainment.”
Galaxy CEO Carter: “Adelson and Wynn are visionaries. In Macau, I’m not sure the timing of their vision is correct.”
Stanley Ho: “Unlike the others, which are replicas of their Vegas models, our Grand Lisboa is unique and original”
Winnie Ho: “We don’t need all these lawyers if he plays by the rules and the law and pays me back the money he owes me. But that’s just Stanley, always thinking he can just walk over anybody.”
Wynn: “I’ll be building here for the next 10 years”
Book author: “Stanley Ho’s kingdom is unraveling. Within the family it looks like it’s every man for himself.”
Dec
30
Wynn Macau service disappoints; Starworld delivers
Filed Under Macau, Cotai, Wynn, Galaxy, Wynn Macau, Galaxy Starworld | Leave a Comment
Looks like NY Times writers wont be staying at Wynn next time in Vegas.
In a recent travel review written by the NY Times, a Times writer wrote of Wynn Macau:
“But the service, except in the well-staffed spa, leaves something to be desired. No army of liveried personnel descends to open taxi doors or to help guests with luggage, and check-in can be a chaotic affair. Quite a few of the young employees speak little or no English, with “sparkling water” and “open for lunch?” proving incomprehensible.”
On the other hand, Galaxy’s Starworld delivered:
“Service is almost instantaneous, with a high level of English fluency.”
Good to see the newcomer to the gaming industry getting the service right.
The article also discusses the lack of young employees in Macau. It is no secret that Macau can not supply the workers needed for its rapidly expanding gaming industry. The draught will be even more emphasized when the Cotai Strip opens in 2007. It’s also no secret that Asians are not accustomed to the level of customer service demanded by U.S. and European travellers.
Let’s hope poor customer service does not turn-off international travellers to Macau.
Dec
21
Galaxy Entertainment CEO Interview
Filed Under Macau, Cotai, Wall Street, Galaxy, Cotai Mega Resort | Leave a Comment
Wow. Looks like Galaxy Entertainment’s CEO Anthony Carter felt left out watching Sheldon and Steve trade jabs back and forth over the past few months. In an interview with Macau Business, Carter throws his hat into the bickering ring:
“Let’s spice up the conversation. When Sheldon Adelson says he will have 60 percent of the market…
He is talking nonsense.
Why don’t you believe it?
Because that means the other five operators are going to share 40 percent. Adelson is clearly a very successful man but are you going to tell me that Stanley Ho is going to lay down and let this happen? Or MGM, or Wynn…?
Or you…?
Of course not. He won’t have anything like that.”
Seriously though, this is a good read if you want to get a better feel for Galaxy Entertainment’s strategy and their thoughts on the Cotai and Macau market.