Inside Asian Gaming

INSIDE ASIAN GAMING | July 2008 14 Asian Gaming 50 12 Kenji Tsuchikawa President and CEO, Japan Racing Association 13 Philip Chun Chairman and CEO, Paradise Group Kenji Tsuchikawa’s career-long dedication to the Japan Racing Association (JRA) saw him become the first president in the organization’s history to rise through its ranks. As head of the public company that runs Japan’s number one gambling sport, he is responsible for ensuring that the country’s horseracing industry remains competitive and entertaining. The JRA was founded in 1954 and runs central horseracing, manages racecourses, and operates betting and horse-training facilities. Mr Tsuchikawa joined the JRA in 1968 as a veterinary surgeon and over the years was appointed to ever higher administrative positions. In September 2007, he was named president and CEO of the association. of “Ladies’ Day” and night racing events. Mr Tsuchikawa also expanded the JRA’s efforts to promote the sport in Japan and elsewhere in Asia by leading the association into a greater cooperative role with the Asian Racing Federation. Mr Tsuchikawa’s long history with the JRA means he has ridden the ups and downs experienced by Japan’s favorite sport. The financial crisis that struck the country in 1998 led to a decline in on- course attendance and betting turnover. Perhaps with that in mind, Mr Tsuchikawa accepted the reins as president stating his dedication to uphold the association’s motto: “No racing without the support of fans and customers.” Even amid falling attendance at the country’s racecourses, Japanese still bet more at the racetrack than any other nation. In 2006, the JRA held 3,453 races generating ¥2.82 trillion (US$26.6 billion) in betting turnover, while the 16 organisers of racing by local governments held 16,422 races generating a further ¥369 billion ($3.5 billion) in turnover. This is a significant fall from the estimated US$38 billion total betting turnover generated in 1999. The fall in bettor numbers was arrested somewhat when the sport reinvented itself as a glamorous day out through the addition South Korea has 17 casinos, and all but one of them—the government-owned Kangwon Land Casino—are off limits to locals. The best known and biggest earner among the 16 foreigner-only casinos is the Paradise Walker Hill Casino, which opened in 1968 at the Seoul Sheraton Hotel on Walker Hill. Paradise Group has long dominated the country’s casino industry, which began in 1968 with the opening of a casino in Incheon, where the international airport serving Seoul is located. The Incheon property was taken over by Paradise in 2001 and renamed the Paradise Golden Gate Casino. The company also owns and operates Paradise Casino Busan and two casinos—Paradise Grand Casino and Lotte Casino—on the resort island of Jeju. The five Paradise casinos in South Korea are modest-sized, with Walker Hill featuring 59 gaming tables and 40 slot machines. The bulk of the company’s customers hail from Japan, followed by gamblers from China and the rest of Asia. Paradise also notably operates the largest casino in Kenya, Africa—the Paradise Safari Park & Casino, which houses 40 tables and 600 machines. In addition to casinos, the Paradise Group runs hotels and restaurants and is involved in manufacturing, duty free retailing, construction, consulting and non-profit activities.Philip Chun effectively took over the reins of the company from his late father, Chun Rak-won, in 2004. As the pioneer of gaming-led tourism in the country, Paradise prides itself on its creative management approach. A devout Christian, 46-year-old Philip Chun cultivated his creative flair at the prestigious Berklee College of Music and later pursued advanced design courses including entertainment design. As part of its efforts to promote social responsibility, Paradise Group founded the Kaywon School Foundation in 1979 and has established and supported non- profit organisations including the Paradise Welfare Foundation, the Paradise Culture Foundation and the Museum of Modern Korean Literature.