31 Lee Choong Yan
PRESIDENT AND COO
POWER SCORE: 917
POSITION LAST YEAR: 32
CLAIMS TO FAME
Entrusted with Genting Group’s foundation property, Resorts World Genting
Oversees global gaming assets from Crockfords to Cairo to Queens, New York
Genting Malaysia, under Lee Choong Yan, manages corporate heirloom Resorts World Genting, the former Genting Highlands, along with two Malaysian non-gaming resorts and a grab bag of overseas assets: RW New York City near JFK Airport, RW Bimini in the Bahamas, Genting UK including London’s Crockfords – the world’s oldest gaming club – and Crockfords Cairo, Genting’s first dip into the Middle East market. Those assets produce some US$1 billion in gaming revenue.
RW Genting, 40 minutes outside Kuala Lumpur, is completing its multiyear MYR10 billion (US$2.4 billion) Genting Integrated Tourism Program, aiming to boost annual visitation from 22 million now to 30 million by 2020. Additions include a second cable car up the hill, fashion and outlet malls, plus improvements to its 10,500 guest rooms in seven hotels to support entertainment and convention space upgrades. Twentieth Century Fox World and an indoor theme park are due to open next year.
In the first half of 2018, Malaysia operations grew double digits, accounting for two-thirds of company revenue and 82% of EBITDA (on a 33.6% margin). Those numbers will shift with Malaysia’s 10% gaming tax increase and MR30 million fee hike announced in November, news that sent Genting Malaysia shares tumbling. Other segments have growth potential, but RW Genting is the here and now.
For the full list of 2018 Asian Gaming Power 50 winners, click here.