Scientific Game

2017 Inside Asian Gaming Power 50: Number 44 - Yang Zhihui

Monday, 04 December 2017 21:04
Share
Visit us


44 Yang Zhihui

CHAIRMAN AND EXECUTIVE DIRECTOR
Landing International

POWER SCORE
596

LAST YEAR
40

CLAIMS TO FAME
• Developing a giant themed resort and hotel complex in Jeju
• Bought and sold London’s Les Ambassadeurs Club for a quick profit

You can’t accuse Landing International Chairman and controlling shareholder Yang Zhihui of lacking ambition. Determined to establish a presence in the gaming industry, the property developer began by outbidding multiple Korean companies to acquire a 260 hectare (642 acre) development site on the southwest end of Jeju, South Korea’s top domestic tourism spot that offers visa-free entry to mainland Chinese. Landing partnered with Genting for the US$1.8 billion Resorts World Jeju, with a theme park and condos – potentially a path to legal residency – plus a casino and 2,000 hotel rooms.

The partnership came to an end late last year when Genting sold its stake in order to focus its energies on Japan, but Landing has only upped the ante in Jeju. In early September 2017, the company announced plans to raise HK$1.8 billion through the placement of shares to complete the newly named Jeju Shinhwa World – a plan it successfully fulfilled later that month.

Landing also revealed its intention to accelerate construction and bring forward to 2018 the completion of the waterpark, theme park hotel and dormitory and training facilities at Jeju Shinhwa World. In regards to its share placement, the company said it had achieved “certain major developments and revised its construction and business plans in relation to its investment in Jeju Shinhwa World,” including signing agreements with Four Seasons Hotels and Resorts Asia Pacific Pte Ltd to launch a luxury Four Seasons resort within Jeju Shinhwa World. It also signed a theme park development agreement with Lions Gate Entertainment Inc for the development of a theme park built around world-famous movies named “Lionsgate Movie World.”

As for Landing Casino, which the company bought in partnership with Genting before buying the full share, Landing plans to relocate operations from its current location at Jeju’s Hyatt Regency to its giant themed tourist attraction.

In a shrewd piece of business, Yang oversaw the 2015 purchase of swanky Les Ambassadeurs Club in London’s Mayfair district for HK$1.4 billion, then sold it in September of this year for HK$2.5 billion.

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

What's new

Strong fourth quarter results drive MGM China growth in 2017

Strong fourth quarter results drive MGM China growth in 2017 MGM China saw its revenue grow 3.0% for Full Year 2017 to HK$15.4 billion, aided by strong fourth quarter results in which net revenue rose 10% year-on-year and 17% sequentially to HK$4.6 billion. Casino revenue at MGM Macau contributed the vast majority of MGM China’s revenue for the 12 months t... Wednesday, 21 February 2018 06:49

Japan casino tax rate could be as high as 50%, floor space and entry restrictions looming

Japan casino tax rate could be as high as 50%, floor space and entry restrictions looming Japan is considering a tax rate of up to 50% on revenue made by local casinos, with the proceeds to be split between national and local governments, according to The Japan Times. The report cites ongoing discussions between the ruling Liberal Democratic Party and Komeito which have outlined plans f... Wednesday, 21 February 2018 06:04

Universal rejects Steve Wynn claims that Stockholders Agreement no longer binding

Universal rejects Steve Wynn claims that Stockholders Agreement no longer binding Japan’s Universal Entertainment Group has rejected an assertion by former Wynn Resorts Chairman and CEO Steve Wynn that a 2010 Stockholders Agreement between Mr Wynn, ex-wife Elaine Wynn and Universal subsidiary Aruze USA “no longer binds either party.” The Wynn Resorts founder made the state... Wednesday, 21 February 2018 05:38

Revenue up but profit down as bad luck hits Star Entertainment Group

Revenue up but profit down as bad luck hits Star Entertainment Group Australia’s Star Entertainment Group saw its profit tumble 76.8% to AU$33 million and EBITDA fall 33.6% to AU$200 million in the six months to 31 December 2018 due to bad luck in its international VIP business. But the results didn’t accurately reflect strong business volumes, with internationa... Wednesday, 21 February 2018 04:53

Current Issue

Design For Profit

Design For Profit Architect Paul Steelman provides his insights into designing the most expensive privately funded buildings on earth and making and breaking trends. By Muhammad Cohen | Editor-at-Large EMINENT casino architect Paul Steelman helped create the Asian gaming boom with the groundbreaking design of Sands... Monday, 29 January 2018 15:11

Climbing the mountain

Climbing the mountain   ASX-listed Silver Heritage Group finally launched hotel and casino operations at its new Tiger Palace Resort Bhairahawa in late 2017, having survived the 2015 earthquake, a fuel blockade on the Nepal-India border and an AU$19 million (US$14.4 million) funding shortage as a result of the delays. ... Monday, 29 January 2018 15:07

Can sportsbooks survive a 1% tax on handle?

Can sportsbooks survive a 1% tax on handle?   The big news coming out of the United States this year is the likely striking down of the federal ban on sports betting. But with many states licking their lips in anticipation of added tax dollars, the sports betting industry may well have another crippling fight on its hands. THE US Supreme C... Monday, 29 January 2018 15:05

Herman Ng:Macau Pioneer

Herman Ng:Macau Pioneer Inside Asian Gaming discovers a bit more about Herman Ng, CEO and Executive Director of Macau-based slot machine services firm Asia Pioneer Entertainment (APE). Ben Blaschke: Can you start by telling us a bit about yourself and your background? Herman Ng: I grew up in Macau and then when I was 16 ... Monday, 29 January 2018 14:52