Wednesday marks the official launch of Galaxy Entertainment Group’s Broadway Macau and Galaxy Macau Phase 2, the first new major resort Macau has welcomed in three years.

Unlike Sands Cotai Central, which was born during Macau’s boom, the $2.1b Phase 2 arrives in a time of relative scarcity. Macau has been mired in a nearly year-long revenue slump and all of the other Macau concessionaires finishing up their own mega-projects on Cotai want to see what effect Phase 2 has on the market. Will it provide more than a short-lived bounce or will it become another casino mouth feeding off an ever shrinking pie?

The new hotels at Phase 2 and Broadway Macau will bring an additional 1,570 suites and rooms online, boosting Galaxy Macau’s total number of residences to over 4k. One of the new hotels is a Ritz-Carlton suites-only property, and its president intends to target high-rollers “as much as I can.” Despite the dwindling number of VIPs currently visiting Macau, Herve Humler said he expects to enjoy around 90% occupancy in the property’s first year.

95% IS A ‘D’ IN MACAU, APPARENTLY