In this regular feature in IAG to celebrate 18 years covering the Asian gaming and leisure industry, we look back at our cover story from exactly 10 years ago, “The Asian Gaming 50”, to rediscover what was making the news in September 2014!
It’s fitting as we approach the 2024 Asian Gaming Power 50 Black Tie Gala Dinner at Solaire Resort North that we look back on who was holding the balance of power in the Asian gaming industry a decade ago.
The 2014 Power 50 was IAG’s cover story in the September 2014 issue of our monthly print magazine, boasting many of those who still influence the industry today plus others who were certainly making their mark at the time.
Topping the list in 2014 was none other than Las Vegas Sands founder Sheldon Adelson, whose company we described as being “Asia’s pre-eminent money-making machine.” By this stage, LVS was already well-entrenched in Macau and Singapore, while a move into Japan was also being touted amid Adelson’s famous claim that he would spend US$10 billion “or whatever it takes” to develop an IR in what was at that stage still an extremely exciting emerging market. That opportunity eventually waned but LVS remains as strong as ever even with the passing of Adelson in 2021.
Galaxy Entertainment Group’s Francis Lui, who has dominated top spot in recent years, was No 2 in 2014, ahead of Genting Group’s Lim Kok Thay and Melco’s Lawrence Ho – who also continue to rank highly each year – and the now long-departed Steve Wynn at No 5.
The rest of the 2014 Top 10 makes for interesting reading given that none of them are on the list at all these days: SJM’s Ambrose So has retired, Suncity’s Alvin Chau is in prison, Crown’s James Packer was forced to sell off his interests, while then-Sands China President and CEO Ed Tracy and MGM Resorts Chairman and CEO Jim Murren have both moved onto greener pastures.
Some notables on the list were Bloomberry Resorts Chairman and CEO Enrique K Razon Jr at No 22 – a man who has since moved into the Top 10 on the growth of his Solaire brand in the Philippines – and Stephen Hung at No 41. Some may recall that Hung was the man behind Macau’s great white elephant, THE 13, which at that time perhaps looked a much greater prospect given the then-dominance of Macau’s VIP industry. Of course, VIP has since fallen off a cliff while THE 13 – which recently reopened for the first time since pre-COVID – has lurched from one disaster to another, having never been granted the 66 gaming tables it had touted.
As we near the unveiling of this year’s Asian Gaming Power 50, one can only wonder how the 2024 alumni will be viewed in a decade’s time.
