MACAU BUSINESS By Toni Lai
By Paolo A. Azevedo
GAMING BRIEFS S
tricter measures have been proposed to address illegal gambling activities, including a prison sentence of one to five years for lending for gambling
recreation, commerce, and activities related to the hospitality sector. If the lender asks for or
purposes, according to a bill published on the website of the Legislative Assembly. The new bill – set to replace the existing
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
Jeju – the new Singapore
New bill proposes 1-5 year jail term for illicit casino loans
Illegal Gambling Law (Law 8/96/m) – proposes that all lending conducted on the premises of casinos and their associated facilities for consumption purposes will be regarded as illegal loans. The definition of such facilities covers venues dedicated to art, culture,
accepts identification documents from the borrower as collateral for an illegal loan, they will face imprisonment for two to eight years. According to the draft legal text,
individuals engaged in the unauthorised operation of casino games or pari-mutuels are liable to a jail term of one to eight years.
Grant Chum becomes Sands China’s new CEO and President G
rant Chum has been appointed as the new Chief Executive Officer (CEO) and President of Sands China, succeeding Robert Goldstein and Wilfred
Wong in their respective roles, as announced in a company stock filing. Chum, 48, has been the operator’s Chief
Operating Officer (COO) of the Macau gaming and integrated resort operator since February 2020. According to the filing, Goldstein, Chairman and CEO of LVS, has been re-designated as a Non-Executive Director
M 18 OCTOBER 2017 C
onstruction on the third phase of Ponte 16 is expected to kick off later this year, with an estimated investment of HKD500 million(MOP515
million/US$64 million) to HKD600 million. Executive director and deputy chairman
of Success Universe Group, Hoffman Ma Ho Man, revealed that the construction plan for the third phase project had already been submitted to the government for approval, Hong Kong news outlet SingTao News reported. Success Universe Group has a 49 per cent interest in Pier 16 – Property
20 MARCH 2024
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
natural evolution? Lawrence Teo – Business is the same. But building
Ponte 16 third-phase expansion to begin this year downtown Seoul and Lotte Super Tower. We’re trying
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
Development, with the remainder held by SJM Holdings, the owner of Macau Palace. Ma said that the third phase
expansion project include the establishment of a new shopping mall, as well as the renovation of the floating casino Macau Palace. The plan includes moving the floating casino next to Ponte 16, with the intention of incorporating new elements such as bars to enhance the overall experience.
of Sands China. He will continue to act as the Chairman of the Board and Chairman of
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.
the Nomination Committee. Robert Goldstein was serving as CEO of Sands China since January 2021. Wilfred Wong, President since February 2020, has now been appointed as Executive Vice Chairman. Dave Sun, Senior Vice President and Chief Financial Officer (CFO) since 2017, has been named Executive Vice President and will continue to serve as CFO. Sands China’s filing also appointed Dylan Williams, Sands China’s General Counsel and Company Secretary since February 2020, as Executive Vice President.
M. B. – What are the main goals that you definitely
want to achieve with this Integrated Resort (IR)? L. T. – Number one EBIDTA on IR in Korea. There’s
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