MACAU BUSINESS By Toni Lai


By Paolo A. Azevedo GAMING BRIEFS


Jeju – the new Singapore


Wynn Macau implements employee ownership scheme, grants shares to 586


October sets new post-Covid GGR tally


G


Court of Second Instance acquits Alvin Chau of fraud but increases compensation to SAR downtown Seoul and Lotte Super Tower. We’re trying


18 OCTOBER 2017


W M T


ynn Macau has made an announcement regarding the implementation of its employee ownership scheme initially adopted in


late May. In a filing to Hong Kong’s stock exchange,


the board of directors of the casino company said that awards under the scheme were made to 586 employees.


he Court of Second Instance (TSI) has acquitted former Suncity boss, Alvin Chau, and six other defendants in the high-profile case, for the crime of fraud, both in its completed and


attempted forms. However, the court has increased the


compensation to be paid by Chau and other defendants to the SAR for money laundering and illicit gaming offenses to almost HK$25 billion (US$3.1 billion). The founder of the city’s biggest junket


operator, Suncity Group, was sentenced in January of this year to about 290


18 DECEMBER 2023


a landmark. M. B. – The group [Lotte] has created other landmarks in different types of business. Why would this be different? L. T. – Yes, Lotte Group has already created


These awards enable them to acquire a combined total of 586,000 ordinary shares – each valued at HKD0.001 – in the company’s share capital, the announcement read. This represents approximately 0.01 per cent


natural evolution? Lawrence Teo – Business is the same. But building


of Wynn Macau’s issued share capital as of the date of the announcement. According to the announcement, the closing


acau Business – From Lotte World, a major recreational complex [with the world’s largest indoor theme park, in Seoul] to an integrated resort with casino in Jeju. A different beast. A


price per share on the date when the grants were given was HKD7.11.


ross gaming revenue for October reached MOP19.5 billion (US$2.42 billion), delivering a new post-Covid record that accounts for over


73 per cent of the 2019 level. According to the Gaming Inspection


Jeju will be as big as Singapore in terms of Gross Gaming Revenue, predicts Lawrence Teo. The Chief Operations Officer and Vice President of Dream Tower, the tallest Integrated Resort under construction on the Korean destination island, explains to Macau Business why Lotte Tour decided to enter the casino business and create a landmark. All bets are on making the casino resort the crown of the tourism jewel the company has been dominating for four decades


and Coordination Bureau, the October result has lifted the total for 2023 to around MOP148.45 billion, or about 60 per cent compared to 2019. It is also a big step closer to a revised


estimate by Chief Executive Ho Iat Seng who said in August the city had the potential to achieve a range of MOP170 billion to MOP180 billion by the end of the year. The October figure also beat the


August record of MOP17.2 billion – manly due to the fact that the month contained the National Day holiday usually dubbed the ‘Golden Week’. The festive period lasted eight days


this year after combing with the Mid- Autumn Festival.


to do the Dream Tower in Jeju. Lotte here is being just a family company; we’re a different company [Lotte Tour]. It’s not going to be [just] the tallest and the largest building in Jeju, that’s just the hardware. We say that a landmark should be the most visited destination, where tourists will go to eat, shop and maybe [visit] our observation deck. A must-visit point destination. Because of the hardware, and also the software.


M. B. – What are the main goals that you definitely


counts of offences including organised crime and illegal gaming at a time when Macau was weaning itself off an economy heavily dependent on high-rollers from mainland China at the behest of Beijing. Chau was handed 18 years in prison and


ordered to pay over HK$8.6 billion in compensation to the Macau government and five gaming concessionaires. At that time, it was also determined that Chau


– alongside some of 20 other defendants – would be required to compensate HK$6.52 billion to the Macau government for illicit activities that resulted in a loss of tax revenue between 2014 and 2021.


want to achieve with this Integrated Resort (IR)? L. T. – Number one EBIDTA on IR in Korea. There’s


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