Inside Asian Gaming

INSIDE ASIAN GAMING DECEMBER 2018 60 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. Albert Yeung CHAIRMAN Emperor Group POWER SCORE: 616 POSITION LAST YEAR: 43 CLAIMS TO FAME Controls Grand Emperor, one of Macau’s leading satellite casinos Helped his friend Stanley Ho finance early VIP rooms at Casino Lisboa 40 Macau’s satellite casinos – licensed by concessionaires to operate in third party venues – are a sunset industry, but Grand Emperor Hotel and Albert Yeung demonstrate how colorful sunsets can be. Opened in 2006 around the corner from Grand Lisboa on the Macau peninsula, Grand Emperor is among billionaire Yeung’s rewards for financing his friend Stanley Ho, the legendary Macau casino monopolist and SJM Holdings founder, to establish the VIP room concept at Casino Lisboa. Yeung made his initial fortune growing his father-in-law’s Hong Kong watch business into Emperor Watch and Jewelry, then Emperor Group, a property powerhouse. Popular on socialmedia for its gold bricks in the lobby, golden carriage and faux Coldstream Guards outside, the 26-story Grand Emperor features 300 guest rooms, retail – including Emperor Watch outlets – sauna and restaurants. The six level casino with 67 mass and 10 VIP tables plus 172 machines reported gaming revenue of HK$1.25 billion (US$160million) for its 2018 fiscal year. VIP roll exceeded HK$22 billion. Hong Kong listed Emperor Entertainment Hotel Ltd, chaired by Yeung’s wife Luk Siu Man Semon, owns 75% of Grand Emperor, SJM owns 20% and Jackie Chan, a friend through Yeung’s role as a major Hong Kong entertainment producer, owns 5%. ASIAN GAMING POWER 50 2 0 1 8