Inside Asian Gaming

INSIDE ASIAN GAMING DECEMBER 2018 58 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 37 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 beenmaking 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.” Galaxy Entertainment Group’s former Chief Operating Officer and President Michael Mecca stepped down from his roles in May, taking on a three-year board role as a non-executive director instead. But don’t think he is any less influential at Galaxy just because of the title change. Six months on and Mecca remains a central figure in the company’s push for expansion outside of its Macau stronghold. One of his first achievements after taking the role in 2015 was to finalize the acquisition of a 5% stake in Monte Carlo-based Societé des Bains de Mer et du Cercle des Étrangers à Monaco (SBM), whose properties include Casino de Monte-Carlo and Casino Café de Paris, not to mention a range of luxury hotels, restaurants and nightclubs. That acquisition has formed a tight strategic partnership with SBM that has seen them join forces in pursuit of the big one – a Japan casino license. Just a few weeks after announcing his move to the Galaxy board, Mecca was front and center at this year’s Japan Gaming Congress – leading discussions on the company’s Japan IR vision, sweet-talking media and meeting key stakeholders to push the Galaxy-SBM cause. It is rumored that Galaxy has impressed Japan government officials with their plans for Japan – if that proves to come true via the granting of a Japanese IR license it may well be Mecca’s crowning achievement. ASIAN GAMING POWER 50 2 0 1 8