Macau casino operator Galaxy Entertainment Group Ltd. is aimed at helping the government “reactivate” its Lai Chi Vin shipyard in Colorado. As noted by senior Galaxy Entertainment executives during a press briefing Thursday, the renovation project will run in two phases and add more “tourism and leisure” elements to areas near the town of Colorado.
The Macau government is in charge of preservation work related to the shipyard’s rescue, government officials said in a briefing. The area has been largely abandoned since the 1990s, when operations were suspended.
Renovation work for part of the shipyard has already been completed and opened to the public in late June. The renovated site now has an exhibition space, space for stalls selling souvenirs, and space for busking performances.
As a first step, Galaxy Entertainment will add a new leisure element to these renovated spaces at the shipyard site, said Galaxy Entertainment Vice Chairman Francis Lui Yu Tung (pictured).
The first phase of the revitalization project includes a multimedia display center that will show the history of the shipbuilding of Raich Burn, space for food and beverage stores, a concert hall for local associations, and a playground for skateboarding and bicycles. “The company will also create an area where it can host local themed fairs,” said Winky Tse, vice president of special projects at Galaxy Entertainment.
Mr. Louis said the company still plans to begin upgrading its Raichbun shipyard “this year,” and aims to complete the first phase of the project by the third quarter of 2024 ″.
The second phase covers a significant portion of the shipyard, and the government expects renovation and preservation work to be completed “by the third quarter of 2026.
After the government’s conservation efforts are completed, Galaxy Entertainment will develop a synthetic ice rink, space for urban agriculture, space for local art organizations, bookstores and additional space for food and beverages, Mr. Tse said.
As for the second phase of the project, Mr. Lui said, “We are exchanging with the government about some technical aspects for the project before scheduling [completion]. So we can only be clear about our investment budget later.”