24 Levo Chan
CHAIRMAN AND CEO
Tak Chun Group
POWER SCORE: 1,136
POSITION LAST YEAR: 23
CLAIMS TO FAME
A Macau junket veteran, having started in the 1990s before liberalization
Opened first VIP room in StarWorld, the StarWorld Tak Chun VIP Club, in 2007
Macau’s junket industry has streamlined in recent years –and one of the biggest winners has been Tak Chun Group.
Having survived the downturn that saw more than half of the SAR’s junket operators disappear from the market, Tak Chun has since embarked on a period of rapid expansion that has seen the number of Macau VIP Clubs under its guidance grow from just a handful to 17 as of October 2018.
Most recent to come online was Tak Chun VIP Club at MGM COTAI, launched just a few weeks ago, while the company also took over junket operations at Macau Roosevelt earlier in the year and expanded its previous VIP Club at StarWorld to double the size.
Nor is Tak Chun content to stay local. In March the group launched a new VIP Club at Okada Manila, then just a month later launched another at Crowne Plaza in Danang, Vietnam. According to company executives, Cyprus and South Africa could be next on the horizon with discussions having already begun with operators in those and other locations.
Such expansion follows a strong 2017 that Tak Chun says saw it achieve 30% growth, thanks largely to its increased presence in Macau’s new gaming epicenter of Cotai.
While VIP is again starting to slow, as per predictions by analysts at the start of the year, the good news for Tak Chun is that the sector appears ready to settle into a period of relative stabilization as opposed to the wildly fluctuating fortunes that have typified its past.
That means expected FY18 growth of 11% year-on-year declining to flat VIP revenue in 2019, but growing again by 10% in 2020. Good business if you can get it.
For the full list of 2018 Asian Gaming Power 50 winners, click here.