Scientific Game

2017 Inside Asian Gaming Power 50: Number 30 - Henry Cheng

Tuesday, 05 December 2017 13:12
Visit us

30 Henry Cheng

Chow Tai Fook Enterprises

SJM Holdings



• Acquired Baha Mar casino resort in Bahamas from China state creditors
• Stakes in Vietnam and Australia IRs plus Macau’s SJM Holdings

The Cheng family has made good money from being good friends. In the 1980s, Stanley Ho asked patriarch Cheng Yu-tung to buy 10% of STDM, his Macau gaming and tourism vehicle, from an unwanted investor. Last year, when the Caribbean’s largest ever hospitality project, US$3.5 billion Baha Mar, was mired in bankruptcy amid allegations of substandard work by a China State Construction Engineering subsidiary, administrator and top creditor Import-Export Bank of China turned to the Cheng’s privately held Chow Tai Fook Enterprises (affiliated with but separate from the eponymous jewelry retailer).

Baha Mar extends a winning streak in gaming for Henry Cheng, family leader following his father’s passing in September last year. In 2015, CTFE acquired majority ownership of Vietnam’s US$4 billion Hoi An South Integrated Resort project, once a Genting investment and now dubbed Hoiana, with Suncity and local investor VinaCapital. Later that year, in Australia, it was part of Destination Brisbane’s winning bid, led by Star (then Echo) Entertainment, for an AU$3 billion (US$2.3 billion) riverfront IR in Queensland’s capital.

Still ramping up, Baha Mar gives the Chengs a chance to run their own casino resort. The family has already found synergy, placing a Rosewood Hotel from its New World Hospitality portfolio in each IR.

To return to the full list of 2017 Asian Gaming Power 50 winners, click here.

Current Issue

VIDEO: Inside Asian Gaming to host Asian Gaming Power 50 Gala Dinner

VIDEO: Inside Asian Gaming to host Asian Gaming Power 50 Gala Dinner Inside Asian Gaming will host the inaugural Asian Gaming Power 50 Gala Dinner on 23 November 2018. Friday, 12 January 2018 06:47


ENTER THE DRAGON2 NagaWorld’s expansion lifts the Mekong region’s largest integrated resort and Phnom Penh into the top tier of regional destinations, with an increasing focus on Chinese tourists. By Muhammad Cohen | Editor at large in Phnom Penh   When I first visited NagaWorld six years ago, the casino hot... Friday, 29 December 2017 03:00

Strength in numbers

Strength in numbers Macau’s VIP segment has been historically volatile, but has surprised with the sheer strength of its resurgence in 2017. What can we expect from VIP in 2018? By Ben Blaschke   If the jury was out on the sustainability of Macau VIP’s resurgence for much of 2017, it’s not anymore. Having cop... Friday, 29 December 2017 02:54

Data driven

Data driven From the traditional betting habits of Europe to the expanses of Asia, data analytics firm BettorLogic is showing how the correct use of data can provide benefits to sportsbook operators and customers alike. By Ben Blaschke   One of the enormous challenges facing sportsbook operators today is st... Friday, 29 December 2017 02:46