37 David Chow
CO-CHAIRMAN, EXECUTIVE DIRECTOR AND CEO
Macau Legend Development
POWER SCORE: 711
POSITION LAST YEAR: 21
CLAIMS TO FAME
Valuable asset in Macau Fisherman’s Wharf as its redevelopment moves forward
Aggressive overseas expansion plans seemingly paying dividends
David Chow – a former Macau legislator and member of the committee that elects the Chief Executive – has never been short of a dream.
The Chairman and CEO of Macau Legend Development has been busy overhauling the Macau Fisherman’s Wharf precinct in recent years, starting with the 2016 launch of Harbourview hotel and followed by the opening of Legend Palace, a luxurious boutique waterfront property with 229 hotel rooms and more than 60 gaming tables.
Macau Legend Development has also been making its presence felt abroad – most notably via a €250 million integrated resort complex on Cape Verde’s main island of Santiago. The company broke ground on the multi-use facility in February 2016 and is expected to complete construction early next year.
Chow is also getting heavily involved in Cape Verde’s economy, signing a memorandum of understanding with the government in May 2017 to open Banco Sino-Atlântico. The plan is for the bank to attract Chinese capital, open the door for international payments and in turn aid local businesses.
And in Laos, Macau Legend purchased casino Savan Vegas – since rebranded Savan Legend – for US$42 million with the long-term goal of developing an integrated resort within the same province. So what’s next for Chow? Perhaps a Macau gaming license.
Certainly it seems that he is positioning Macau Legend for a bid once re-tendering gets underway in the coming years, telling reporters in May that, “The market requires competition to progress. If the situation remains the same, where companies maintain their way of operation, any growth will only go to them.
“If the market is big enough, there is no problem for Macau to have two or even three more licenses. I believe Macau people should have more opportunities to take part. I am not pressuring the government, but I think the opportunities should be provided.”
For the full list of 2018 Asian Gaming Power 50 winners, click here.