Despite a global pandemic and massive revenue losses in Macau, Galaxy Entertainment isn’t going to be deterred from fulfilling one of its dreams. The Galaxy Macau resort project has been in the works for years, developing in phases to become one of the cornerstones of the city’s gambling industry. After having overcome a series of delays and tragic, and deadly, accidents, the project is ready to move forward once again and construction of Phase 4 of the property is going to begin in the near future.
Galaxy Entertainment announced that it has signed a preliminary contract with a construction company, China Construction, to get Phase 4 of Galaxy Macau off the ground. This initial contract is only a letter of intent, which means certain unforeseen activity could cause the deal to be put on hold, but China Construction stands to earn $1.63 billion in gross profit should everything progress as planned. The construction company is the Macau-based arm of mainland China’s China State Construction International Holdings Limited.
The date for the launch of Phase 4 wasn’t provided, but Galaxy Entertainment believes now is the right time to get things going. China Construction will provide “construction and related services including but not limited to management, temporary works, general facilities and attendance, application and management of labour quota; construction of basement box structure, structural carcass, link bridges; and construction and completion of all specialist work packages through nominated subcontractors/suppliers and/or direct contractors,” as well as any other construction-related tasks the casino operator puts on its plate.
Phase 4, which is expected to take around three years to complete, could potentially get underway before Phase 3 has been completed. That addition, expected to launch sometime during the second half of this year, gives the property more gaming options, another 1,500 hotel rooms, a massive 16,000-seat convention center and over 430,000 square feet of MICE (meetings, incentives, conferences and exhibitions) space. However, Phase 3’s launch will also come with a bit of bad luck attached to it.
Phase 3 was expected to be ready in 2019, but delays forced the completion date to be extended to mid-2020. Then, addition time had to be added; however, the coronavirus and typical construction problems weren’t the only things responsible for the issues. In March of last year, with work on Phase 3 still in progress, construction scaffolding suddenly collapsed, killing three workers. It was later determined that faulty maintenance of the equipment was to blame.
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