GGRAsia – David Chow Leaves Macau Legend Casino Services Board of Directors


David Chow leaves Casino Services biz Macau Legend Board of Directors

Former Macau lawmaker David Chow Kam Fai quit the board of Macau Legend Development Ltd, a hotel services and gaming company he helped found in 2006 and witnessed at the Hong Kong Stock Exchange in 2013.

The company said in a filing on Tuesday that after its annual general meeting that day, Mr Chow (pictured in a file photo) retired as co-chairman and non-executive director, “to focus on his other commitments. His wife, Melinda Chan Mei Yi, remains the company’s general manager.

Earlier this month, Ms Chan confirmed to GGRAsia that the group had stopped all activities related to the promotion of the casino regarding its Macau Fisherman’s Wharf complex, near the Outer Harbor ferry terminal.

Casino licensee SJM Holdings Ltd – which has already provided the license for the site’s two “satellite” casinos, namely Legend Palace, a hotel with associated gaming operation; and gaming-only venue Babylon – has now taken full control of both operations.

Macau Legend is known as a promoter of some of Macau’s so-called satellite casinos, which respectively rely on the license of one of the city’s dealers. The company has also been associated with the gaming operation at the Landmark Casino, inside the New Orient Landmark Hotel, also on the Macau Peninsula.

The regulatory framework for the city’s satellite casinos is changing. Some third-party satellite promoters have in the past shared gaming revenue with their partner casino. Under a consolidation bill covering junkets and also satellite business – due to pass this fall – revenue sharing is to be banned, although there is a three-year grace period for investors are adapting to this and other new arrangements.

Critical comments

In April, in what was a rare public intervention in political affairs by a Macau gambling entrepreneur, Mr Chow – often described as an outspoken and colorful businessman – called on the city government to “focus on old industries and growing them”. It was a benchmark for local authorities to promote the recovery of the city’s casino and tourism sectors, rather than focusing on economic diversification – the latter is a strong theme of Chinese central government policy for Macao.

If “Macau’s economy collapses, ‘One country, two systems’ also collapses,” Chow told local media at a public event.

He was referring to the Chinese policy of operating Macao and the other special administrative region, Hong Kong, under a dual approach of mainland and local administrative traditions, for a period of 50 years from the respective handover of the cities to China. .

Apart from the tourism crisis, Macau Legend has recently been rocked by other events. Levo Chan Weng Lin, former boss of Macau junket brand Tak Chun and former general manager of Macau Legend, was detained in Macau in January on suspicion of operating illegal gambling and money laundering operations. The allegations were believed to be related to his travel activities. Nevertheless, he resigned from his role as Macau legend a little after.

In May, Macau Legend announced that a review conducted by an independent consultant “did not find any irregularity” in the relationship between the company and Mr. Chan.

Before the Covid-19 pandemic, Macau’s satellites were already small businesses in terms of gaming volumes, compared to the self-promoted properties of the six gaming licensees.

The stop-start nature of Macau’s tourist market recovery and the decline of Macau’s VIP gambling segment had led Emperor Entertainment Hotel Ltd, a developer of a satellite gambling operation, to its Grand Emperor Hotel in April. to suggest that he would quit the casino business. In June, however, it emerged that its dealer partner SJM Holdings had to face the casino thereuntil December 31, when Macau’s current licenses expire.

Only two of Macau’s 18 satellite casinos — the Rio Casino and President Casino — have so far closed due to changes to the city’s regulatory system for those properties.


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