39 Jay Chun
CHAIRMAN AND MANAGING DIRECTOR
Paradise Entertainment Group
POWER SCORE: 619
POSITION LAST YEAR: 42
CLAIMS TO FAME
Founder of Macau gaming equipment manufacturer LT Game
Changed the face of Macau’s casino floors with his Live Multi Game Machines
After a tough 2017 that saw revenue tumble and an ambitious plan to expand its Macau casino operations via the acquisition of Hotel Lan Kwai Fong fall through late in negotiations, Jay Chun’s Paradise Entertainment has enjoyed a much brighter 2018.
Revenue for the first six months of the year grew 15.2% to HK$563.9 million, pushing the company into profit due largely to a significant uptick in the deployment of new Live Multi-Game Terminals. In fact, thanks to the opening of MGM COTAI in February, Paradise deployed five times more new LMG terminals in the first three months of 2018 than it did in the entirety of the previous year!
That’s good news for Chun, who also predicts another surge in business in the coming year thanks to new Technical Standards governing Dealer-Operated Electronic Table Games announced by the government in December. According to Chun, this will benefit the company by accelerating the replacement cycle of older installations.
The Technical Standards, which set out the specific technical requirements for ETGs deployed in Macau, are the first to focus specifically on the live dealer games developed by Paradise for the Macau market. The Technical Standards came into effect on 1 January 2018 but provide a two-year grace period through 31 December 2019 for necessary updates to be made. Chun, who personally holds a 59% stake in Paradise, continues to wear multiple hats in Macau. He is founder of the Macau Gaming Equipment Manufacturers Association (MGEMA) and the man behind the MGS Entertainment Show (formerly Macao Gaming Show), which celebrated its sixth anniversary this November.
For the full list of 2018 Asian Gaming Power 50 winners, click here.