29 Tan Hee Teck
PRESIDENT AND COO
CHAIRMAN AND CEO
Resorts World Sentosa
POWER SCORE: 944
POSITION LAST YEAR: 25
CLAIMS TO FAME
Operates Resorts World Sentosa, Genting Group’s most profitable property
Led bid for Singapore gaming license, heads Genting push in Japan
Resorts World Sentosa is one amazing integrated resort. It has 1,600 rooms in six themed hotels, a casino with 562 tables and 2,446 machines, Southeast Asia’s only Universal Studios theme park, a global top 10 aquarium, unique waterpark, destination spa, maritime museum and treasure trove of fine artworks. Plus profits: Morgan Stanley estimates parent company Genting Singapore will produce EBITDA of SG$1.2 billion (US$885 million) this year.
But RW Sentosa can’t escape comparison with crosstown rival Marina Bay Sands, a contest the Genting Singapore property can’t win due to its location and mandate. Singapore’s gaming market splits roughly 40-60. But Tan Hee Heck is already fighting on the next front.
After leading Genting’s successful bid for a Singapore license, Tan hopes to recreate that magic in Japan. Singapore IRs provide a model for Japan, with RW Sentosa a potential template. Genting Singapore opened a Japan office in 2017 and raised ¥20 billion (US$177 million) in a bond placement, underlining its commitment.
Tan and his team reportedly make favorable impressions in Japan as competent, efficient Singapore technocrats. Ironically, in this contest Tan again squares off with his MBS counterpart, George Tanasijevich. But, like Singapore, Japan appears big for both of them.
For the full list of 2018 Asian Gaming Power 50 winners, click here.