Galaxy Entertainment will expand Cotai development
HONG KONG -- Hong Kong casino company Galaxy Entertainment Group said Tuesday it has received government approval to expand its planned development on Macau's Cotai strip, pitting it against the newly opened Venetian Macau.
Galaxy now runs five casinos in China's gambling enclave in Macau, including StarWorld, which opened last October. It is also building GalaxyWorld Resort on Cotai, a reclaimed strip linking two outlying islands that Las Vegas developer Sheldon Adelson hopes to transform into a massive resort that rivals the Nevada gambling mecca.
Peter Caveny, Galaxy's investor relations principal, said Tuesday that Galaxy has received Macau government approval to expand its development on Cotai beyond GalaxyWorld.
GalaxyWorld is expected to comprise 2,500 hotel rooms in two towers and 320,000 square feet of gaming space. Its first hotel block and casino are expected to be completed the end of 2008; the second hotel building is expected to be finished in 2009.
