Inside Asian Gaming

IAG NOV 2022年11月 亞博匯 103 26-50 CHAIRMAN Chow Tai Fook 主席 周大福企業有限公司 CLAIMS TO FAME 名成事跡 POWER SCORE 權能指數: 615 POSITION LAST YEAR 去年排名: 34 Inherited father Cheng Yu-tung’s 10% of SJM Holdings parent STDM Strategic partner of Australia’s Star Entertainment Group with a 4.99% stake Acquired Baha Mar, largest resort in the Caribbean, from Chinese state creditors 繼承父親鄭裕彤所持有的澳博控股母公司澳娛約10%股權 澳洲星億娛樂集團的戰略合作夥伴，持有其4.99%股權 從中國國有金融機構手上購入加勒比海最大的度假村Baha Mar HENRY CHENG 37 鄭家純 THE CHOW TAI FOOK and New World empire is so diversified that even the ghastliness of a pandemic cannot harm its fundamentals. But Henry Cheng’s grab-bag of disparate casino operations and legacy stake in STDM/SJM is sporting some damage from global misfortune. The most fiscally substantial of these assets currently in operation is Cheng’s nearly 10% stake in STDM, but subsidiary SJM Holdings is struggling in Macau as its cash burns, debts grow and lending facilities become ever more important by the month. Looking forward, Chow Tai Fook’s massive investment in Star Entertainment Group’s Queen’s Wharf Brisbane integrated resort could be the jewel in the company’s crown, but even this is under new pressure. In yet another litigation of industry ties to the late Stanley Ho, Australian media are calling foul on Chow Tai Fook’s alleged links to organized crime, akin to nefarious connections unearthed between Star and junket operators or Crown Resorts and its associates. If Chow Tai Fook’s team in Brisbane can stare down a regulatory probe into its activities and weaponize its formidable customer base to compensate for state junket bans, then the future for Henry Cheng in Asian gaming doesn’t look too bad at all. 周大福 和新世界兩間公司的環球規模和多元，令到即便是新冠疫情也並未 損害到其基本盤。 但鄭家純所持有的賭場業務及其在澳娛及澳博所佔的股份，還是難免 在全球疫情大流行期間受到損害。 在目前的業務中，財務上最為可觀的仍是鄭裕彤持有的近10%澳娛的 股權。但後者的子公司澳博控股目前在澳門面臨著現金耗盡、債務增長、 融資困難等諸多困境。 未來，周大福於澳洲布里斯本投資的星億集團Queen’s Wharf綜合度 假村可能是公司未來的印鈔機，但目前同樣面臨新的壓力。 在另一起與已故何鴻燊有關的行業訴訟中，澳洲媒體指控周大福涉嫌 與有組織犯罪有關聯，類似於星億或皇冠與博彩中介人之間的惡性關聯。 如果周大福在布里斯本的團隊能夠頂住監管部門對其展開的調查，並 憑藉其強大的客戶群來彌補各州的博彩中介人禁令，那麼鄭家純未來在亞 洲博彩業界的前景應還不錯。