HK$2.95b StarWorld hotel housing firm's fifth casino opens
Galaxy Entertainment Group, the Macau casino operator controlled by the family of Hong Kong property and construction tycoon Lui Che-woo, aims to increase its share of the territory's HK$45 billion gaming market to 25 per cent by the end of the year, up from 20 per cent in August and 7 per cent during the first quarter.
Galaxy's HK$2.95 billion StarWorld hotel opened yesterday as its fifth casino in the territory and the company's first full-scale property to be self-owned and operated.
'Galaxy's gaming business in Macau is expanding rapidly,' Mr Lui said. 'With the opening of StarWorld hotel and casino, [our] mass market and VIP business will continue to grow.'
The 500-room hotel sells a basic 380 square foot room for less than HK$1,000 per night, with rack rates on the 6,000 sqft penthouse suite set at HK$38,000. The property houses eight Asian restaurants, many of them outlets of well-established mainland eateries.
The 38-storey building will reign as the tallest casino in Macau until December, when former monopolist Stanley Ho Hung-sun's Sociedade de Jogos de Macau (SJM) plans to soft-open the 44-floor Grand Lisboa.
Galaxy's latest casino features 200 mass market gaming tables and 36 VIP tables. An additional 50-plus VIP and high-limit gaming tables will come online by December when renovation on up to 20 private gaming halls is completed, making StarWorld one of the largest high rollers' casinos in Macau by table capacity.