CHIEF EXECUTIVE OFFICER
Tak Chun Group
POWER SCORE: 1,030
POSITION LAST YEAR: 24
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 junkets have endured their most challenging year to date in 2020, with a combination of COVID-19 pressures and a crackdown by mainland Chinese authorities on the flow of capital for gambling purposes decimating revenues industry-wide.
Yet Levo Chan, the long-time CEO of Macau junket Tak Chun Group, has been anything but quiet.
In September, Chan completed an agreement to acquire a 20.65% stake in Macau Legend Development Ltd – owner of the Macau Fisherman’s Wharf precinct and its Legend Palace and Babylon casinos – for a consideration of HK$1.28 billion (US$165.2 million).
At time of writing he was also due to make an unconditional cash offer for all remaining shares, other than those held by a specified group of shareholders, which if accepted could see Chan own 49.94% of the company by the end of 2020.
His move into the realm of casino operations, combined with his primary role in charge of Tak Chun, should certainly keep him busy as he looks to rebuild from the challenges of the past 10 months.
Tak Chun’s VIP operations include 16 VIP rooms in Macau – one fewer than 12 months ago – and five overseas, primarily in Cambodia and Vietnam.
For the full list of 2020 Asian Gaming Power 50 winners, click here.