In order to rank the 50 most powerful people in Asian gaming, the panel considered over 100 candidates. These five are the people knocking on the door of the Power 50 and those we currently consider the most likely new entrants next year. Although we did rank these five people 51 through 55, we’ve listed them in alphabetical order.
You’ll just have to guess who came in at number 51!
Chen Yiy Hwuan, one of five sons of late NagaCorp founder Dr Chen Lip Keong, was named the company’s CEO – Hotels in 2022 as part of a “re-designation” of senior management that also saw two of his brothers take on various leadership roles. One of those, Chen Cherchi, has since been ousted leaving Yiy Hwuan as the second most senior executive within the family behind only group CEO Chen Yiy Fon. Yiy Hwuan holds a 6.6% stake in NagaCorp from the family trust that was dispersed following Dr Chen’s passing in December.
Henry Cheng’s Chow Tai Fook doesn’t speak publicly about its gaming interests, preferring instead to focus on the jewelry empire that has made the company billions. Yet those interests are substantial, comprising a 5% stake in Australia’s Star Entertainment Group and a 25% stake in their Queen’s Wharf Brisbane joint venture, plus 33% in Vietnam’s Hoiana integrated resort. Recent reports claim that Chow Tai Fook has taken over operations of Hoiana from its partner LET Group. The company also manages Baha Mar in the Bahamas, having been brought in to save the flailing development in 2017 in controversial circumstances, while Cheng also holds a personal 10% stake in STDM – parent company of Macau concessionaire SJM – acquired by his father from Stanley Ho decades ago.
One of the Philippines’ most influential businessmen, Lance Gokongwei is CEO of JG Summit Holdings – founded by his late father John Gokongwei Jr – a conglomerate with interests in airlines, telecom, banking, food, power and property. Earlier this year he also assumed control of family real estate arm Robinsons Land Corp (RLC) from his cousin, Frederick Go, who stepped down after accepting an invitation from Philippines President Ferdinand Marcos Jr to become the government’s Special Assistant to the President for Investment and Economic Affairs. RLC is the parent company of Universal Hotels and Resorts Inc, which operates Cebu’s first and only integrated resort development, NUSTAR Resort & Casino, opened in 2022.
Having played a key role in Crown Resorts’ early remediation efforts before the company was bought out by Blackstone, Steve McCann was earlier this year called upon by Crown’s Australian rival Star Entertainment Group to help solve its own issues. And those issues run deep. In August, the company was for the second time in as many years found unsuitable to hold a casino license for The Star Sydney after its previous management failed to heed the lessons of the first inquiry. That news, coupled with a depressed economic environment, higher regulatory expenses and the opening of its AU$3.6 billion Queen’s Wharf Brisbane development, have placed the company’s financial viability into serious jeopardy. Returning to suitability is the ultimate goal, but McCann’s first task will be saving Star from insolvency.
Sonny Yeung is founder and Chairman of Success Universe Group, the Hong Kong-listed travel and property investment business that is joint venture partner in Pier 16 – Management Ltd, the operating entity of Macau’s inner harbour casino resort, Ponte 16. Success Universe holds a 49% stake in Pier 16 – Management Ltd, with the other 51% owned by SJM Resorts, although it is Yeung’s company that is responsible for day-to-day management of the property. Like all Macau operators, Success Universe has benefited from the recovery of the city’s gaming and tourism sector, having returned to profit in 2023 and enjoyed rising gaming revenues throughout 2024. The company is also embarking on a rejuvenation project of areas around Ponte 16 in partnership with SJM, aiming to further boost the property’s appeal.
For the full list of 2024 Asian Gaming Power 50 winners, click here.
