Galaxy Entertainment will double the size of its flagship casino resort on the Cotai Strip in Macau by adding more non-gaming elements, including convention and retail businesses, according to a senior executive.
'The planning of Galaxy Macau was always approached on a more holistic basis and the latest phase will be an integral part of the whole master plan, which was started in 2002,' vice-chairman Francis Lui Yiu-ting told the South China Morning Post.
The gaming industry accounts for more than 70 per cent of the Macau government's revenue and plays a significant role in the city's gross domestic product. But the government is under pressure to widen its income stream if the gaming industry should face a downturn.
One of the alternative revenue sources that Macau could develop is the convention business, said Lui, who envisaged the city becoming an important centre for meetings in the next five years.
'At present, the size of the convention business in Macau is just 10 per cent of that in Hong Kong,' he said.
Mainland officials have difficulties in obtaining visas to visit Macau, but visas to attend conventions are easier to get.
One big obstacle limiting the growth of the business in Macau has been an inadequate public transport infrastructure.