Inside Asian Gaming

INSIDE ASIAN GAMING DECEMBER 2017 58 ASIAN GAMING POWER 50 2 0 1 7 It didn’t take new SKYCITY boss Graeme Stephens long to get the ball rolling on his tenure after taking over from former CEO Nigel Morrison in May. The ink had barely dried on Stephens’ contract before the New Zealand and Australian-listed casino operator announced in July that it had reached a development agreement with the South Australian government to undertake an AU$330 million revamp of Adelaide Casino. Fast forward another two-and-a-half months and SKYCITY Graeme Stephens CEO SKYCITY Entertainment Group POWER 721 LAST – SCORE YEAR CLAIMS TO FAME Former boss of South Africa’s biggest casino operator 36 Clarence Chung CHAIRMAN AND PRESIDENT Melco Resorts and Entertainment (Philippines) POWER 706 LAST 39 SCORE YEAR CLAIMS TO FAME Lawrence Ho’s man in the Philippines, overseeing City of Dreams Manila His Nasdaq listed Entertainment Gaming Asia merged into Melco Resorts 37 Trusted deputy to Lawrence Ho, accountant and former investment banker, Clarence Chung supervises the overseas star in Melco’s portfolio, City of Dreams Manila. The joint venture with Philippine multi-billionaire Henry Sy’s Belle Corp has established itself as the number two property in Entertainment City, growing EBITDA 65% in this year’s first three quarters to US$181.2 million. CoD Manila has turned around from a shaky start in December 2014; insiders credit Property President Geoff Andres with improving coordination at the IR. CoD Manila has a winning combination of big VIP numbers, nearly doubling roll to US$3 billion in Q3, and unique attractions, the world’s first DreamWorks licensed DreamPlay theme park, global nightclub brands Pangaea and Chaos plus Asia’s first Nobu Hotel and a branch of the nouveau Japanese restaurant that inspired it. Going forward, CoD Manila could face the loss of its Crown Towers as part of Melco’s split with Crown, and perhaps Crown-linked Nobu, too. Mr Chung also served as Chairman and CEO of Entertainment Gaming Asia (EGA), once Elixir Gaming Technologies, producers of Dolphin casino currency and steady losses in Cambodian gaming ventures. In June, EGA delisted from Nasdaq and merged into Melco International, perhaps freeing up Mr Chung for another challenge. was unveiling a NZ$47 million deal that saw it acquire 15 levels of an office tower connected to SKYCITY Auckland which it plans to use for expanded entertainment, hotel and food and beverage facilities. But it was this rapid call to action that saw Stephens lured away from his previous role as CEO of South African casino operator Sun International in the first place. As Chairman Chris Moller stated, “His record managing a diverse and fast-growing listed company, operating in a variety of locations, makes Graeme the best person to lead SKYCITY as we progress the New Zealand International Convention Centre and Hobson Street hotel projects, redevelop our Adelaide Casino and plan the next stage of SKYCITY’s strategy.” Stephens, whose father once oversaw Zimbabwean retail and hospitality conglomerate Meikles Limited, has plenty to keep him busy in the coming years but has already flagged his desire to reposition the company’s flagship Auckland property as a genuine focal point of the city.