CHAIRMAN AND MANAGING DIRECTOR
Paradise Entertainment Ltd
POWER SCORE: 548
POSITION LAST YEAR: 45
CLAIMS TO FAME
- Founder of Macau gaming equipment manufacturer LT Game
- Heads up MGS organizer the Macau Gaming Equipment Manufacturers Association (MGEMA)
JAY CHUN has long been a leading figure within Macau’s gaming industry, playing a key role in the development of Live Multi-Game terminals under the company he founded, LT Game, and establishing the Macao Gaming Show (MGS) as a competitor to US-run G2E Asia.
But the past three years have presented challenges even he could never have seen coming, none more evident than in 2022.
Reporting an Adjusted EBITDA loss of HK$64.4 million (US$8.2 million) for the first six months of the year, Paradise saw its total revenue fall by almost 30% with both its share from the provision of casino management services at Casino Kam Pek and the sale and leasing of electronic gaming equipment and systems showing significant declines.
While the prospective easing of pandemic-related restrictions could ease those concerns, of greater interest is an addition to Macau’s revised gaming law prohibiting casino management firms from engaging in revenue share agreements with concessionaires.
Chun’s Paradise Entertainment ceased providing management services to one of its two casinos, Casino Waldo, in 2020 but has stated its intention to continue operating Kam Pek beyond 2022 under the license of SJM Resorts.
The ability of Paradise to do so may well play a critical role in determining its long-term profitability.
For the full list of 2022 Asian Gaming Power 50 winners, click here.
