WGM#38 NOV/DEC 2015
The Macau gaming industry is synonymous with junkets. First started by none other than Stanley Ho in the 1960s, these junkets and the VIP gamblers they provide have played a vital role in Macau’s rise over the past decade. However, the recent downturn has changed the landscape in this unique part of the world with the junket business suffering more than any other and a number of VIP rooms being forced to close in Macau over the past 12 months. So what does the future hold? In this issue of WGM, we speak exclusively to the Chairman of one of Macau’s biggest junket operators Tak Chun Group, Mr Levo Chan, about the current gaming climate, his expectations for the coming years and why Tak Chun has expanded while other junkets have slowed right down. Poker fans will enjoy our lengthy and intriguing interview with World Series of Poker (WSOP) Tournament Director Jack Effel who explains just how much goes into organizing the world’s biggest tournament series each and every year as well as regaling us with some of his favorite stories from the past. We tackle the smoking debate as Macau’s legislators decide whether to allow smoking in specially designated smoking lounges or ban the habit altogether, while our responsible gambling series sees us visit one of Macau’s main problem gambling treatment centres. In sport, we look at Manchester United’s big gamble on teen star Anthony Martial as well as examining which of the world’s major sports would benefit most from cracking the lucrative Chinese market. And our resident party animal tells us all about one of Macau’s newest trendy nightspots – Ritz-Carlton Bar & Lounge.
The Macau gaming industry is synonymous with junkets. First started by none other than Stanley Ho in the 1960s, these junkets and the VIP gamblers they provide have played a vital role in Macau’s rise over the past decade.
However, the recent downturn has changed the landscape in this unique part of the world with the junket business suffering more than any other and a number of VIP rooms being forced to close in Macau over the past 12 months. So what does the future hold? In this issue of WGM, we speak exclusively to the Chairman of one of Macau’s biggest junket operators Tak Chun Group, Mr Levo Chan, about the current gaming climate, his expectations for the coming years and why Tak Chun has expanded while other junkets have slowed right down.
Poker fans will enjoy our lengthy and intriguing interview with World Series of Poker (WSOP) Tournament Director Jack Effel who explains just how much goes into organizing the world’s biggest tournament series each and every year as well as regaling us with some of his favorite stories from the past.
We tackle the smoking debate as Macau’s legislators decide whether to allow smoking in specially designated smoking lounges or ban the habit altogether, while our responsible gambling series sees us visit one of Macau’s main problem gambling treatment centres.
In sport, we look at Manchester United’s big gamble on teen star Anthony Martial as well as examining which of the world’s major sports would benefit most from cracking the lucrative Chinese market.
And our resident party animal tells us all about one of Macau’s newest trendy nightspots – Ritz-Carlton Bar & Lounge.
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Tak Chun’s Levo Chan 德 晋 之 陈 荣 炼<br />
2014 年 11 月 德 晋 集 团 在 昆 明 山 区 为 儿 童 分 发 物 品<br />
Tak Chun Group distributed supplies to children living in the<br />
Kunming mountain district in November 2014<br />
Our loan approval processes and<br />
systems are very strict and long established.<br />
Because of a range of factors, we have<br />
become a financially more robust and more<br />
conservative company and we stand out in<br />
Macau among our many competitors.<br />
AWS: Why is Tak Chun rebranding? Are your<br />
shareholders changing?<br />
LC: Absolutely not. The reforms we’re making<br />
aren’t about that. It’s more about moving away<br />
from a traditional conservative style to create a<br />
trendy, distinguished and stable new modern<br />
image. We want to strengthen our brand<br />
recognition in the marketplace and bring a<br />
refreshed new feeling to the gaming industry.<br />
In the design of the logo we used the<br />
diamond pattern that the Group has always<br />
used, but we’ve made subtle changes so that<br />
the new logo is in the shape of a shining gem.<br />
We want to convey a meaning that Tak Chun<br />
has a unique appeal in the VIP business.<br />
AWS: You also have rooms at Solaire<br />
in Manila and at Walker Hill in Korea. How<br />
are these rooms doing and have they been<br />
affected (either positively or negatively) by<br />
the downturn in Macau? How is gaming<br />
different in the Philippines and Korea<br />
compared to Macau?<br />
LC: Tak Chun’s VIP Clubs overseas usually<br />
source players from the local or surrounding<br />
areas. This is different to the source of our<br />
Macau VIP Clubs, so the downturn in Macau<br />
hasn’t had a big impact on the overseas VIP<br />
Clubs. Instead, local customers can come to<br />
Macau through our network, so that<br />
the gaming industry in Macau is<br />
further developed.<br />
In order to expand business<br />
as a junket operator, we must have<br />
a broader vision. The developing<br />
Philippines and South Korea<br />
gaming markets provide an<br />
international platform for our<br />
business expansion. We can move<br />
towards being an international<br />
company.<br />
Compared with Macau, the<br />
Philippines’ political situation is<br />
complicated; its tourism facilities<br />
are not yet perfect and its<br />
gaming business is not as mature<br />
as Macau’s. In South Korea, the<br />
authorities restrict locals from<br />
entering casinos so players are<br />
mainly sourced from overseas.<br />
Therefore if the tourism industry<br />
is adversely affected, the gaming<br />
industry will be the first to be hit.<br />
In contrast, Macau has<br />
a number of established and<br />
high standard large resorts and<br />
hotels so it is more capable of<br />
developing into a more mature and<br />
stable entertainment and gaming<br />
destination. But in recent years, the<br />
governments of the Philippines and<br />
South Korea have been vigorously<br />
promoting the gaming industry. We<br />
can see that they are all keen to develop<br />
their gaming industries.<br />
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