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2017 Inside Asian Gaming Power 50: Number 37 - Clarence Chung

Tuesday, 05 December 2017 12:45
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37 Clarence Chung

CHAIRMAN AND PRESIDENT
Melco Resorts and Entertainment (Philippines)

POWER SCORE
706

LAST YEAR
39

CLAIMS TO FAME
• Lawrence Ho’s man in the Philippines, overseeing City of Dreams Manila
• His Nasdaq listed Entertainment Gaming Asia merged into Melco Resorts

Trusted deputy to Lawrence Ho, accountant and former investment banker, Clarence Chung supervises the overseas star in Melco’s portfolio, City of Dreams Manila. The joint venture with Philippine multi-billionaire Henry Sy’s Belle Corp has established itself as the number two property in Entertainment City, growing EBITDA 65% in this year’s first three quarters to US$181.2 million.

CoD Manila has turned around from a shaky start in December 2014; insiders credit Property President Geoff Andres with improving coordination at the IR. CoD Manila has a winning combination of big VIP numbers, nearly doubling roll to US$3 billion in Q3, and unique attractions, the world’s first DreamWorks licensed DreamPlay theme park, global nightclub brands Pangaea and Chaos plus Asia’s first Nobu Hotel and a branch of the nouveau Japanese restaurant that inspired it. Going forward, CoD Manila could face the loss of its Crown Towers as part of Melco’s split with Crown, and perhaps Crown-linked Nobu, too.

Mr Chung also served as Chairman and CEO of Entertainment Gaming Asia (EGA), once Elixir Gaming Technologies, producers of Dolphin casino currency and steady losses in Cambodian gaming ventures. In June, EGA delisted from Nasdaq and merged into Melco International, perhaps freeing up Mr Chung for another challenge.

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

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