PRESIDENT AND EXECUTIVE DIRECTOR
Sands China
POWER SCORE: 1,251
POSITION LAST YEAR: 6
CLAIMS TO FAME
- Experienced government and political operator with mainland China connections
- Extensive work in property development
AT 69 YEARS of age, it might well be argued that Sands China’s President and Executive Director Wilfred Wong doesn’t have anything left to prove in a distinguished career that has seen him rank among the region’s real movers and shakers. But if he is to drift off into retirement in the coming years, he has one more vitally important task to see through before he does so.
First recruited by Sands China as President and COO back in November 2015, one of Wong’s top priorities has been overseeing the company’s re-tender bid – including discussions with Macau and Chinese authorities during the current negotiation phase. Given the hurdles the COVID-19 pandemic has thrown up and increasing anti-gambling rhetoric coming out of the mainland, making the most of Wong’s connections and gravitas has never been more important.
Of course, easing the current pandemic-induced environment in Macau is proving a far more difficult task. Under Wong’s watch, Sands China last year launched its US$2 billion Sands Cotai Central renovation project, rebranding it as The Londoner Macao to sit alongside fellow Cotai Strip properties The Venetian Macao and The Parisian Macao as a trio of European-themed resorts.
While the revamp is impressive in scope, there has been little opportunity to analyze performance and there is genuine concern that the city’s subdued visitation will continue for years to come given China’s strict adherence to COVID-zero.
At least Sands has the backing of a much larger parent in Las Vegas Sands – complete with a US$6.25 billion stockpile of cash following the sale of its Las Vegas assets.
Meanwhile, Wong is edging ever closer to completing a key task, with the Macau government set to hand out new 10-year concessions before the end of the year and popular opinion suggesting the current six concessionaires will edge out a seventh bid from Genting Malaysia.
Originally a public servant, Wong began his career in the British Hong Kong government in 1975, moving up the civil service ladder and, by 1985, becoming a member of key bodies associated with Hong Kong’s 1997 handover. He worked with mainland counterparts on key issues including the Basic Law governing the relationship between the city and the mainland and the actual handover procedures.
Following Hong Kong’s transition, Wong served as a deputy to China’s National People’s Congress from 1997 to 2013.
Prior to joining Sands China, Wong held positions in top management at K Wah International Holdings – the parent company of Macau rival Galaxy Entertainment Group – under Lui Che Woo; at Henderson China Holdings, a privately owned, Hong Kong-based company engaged in property development and management in the PRC; at Shui On Group, whose holdings include property development, construction and construction materials in Hong Kong and on the mainland; and at Synergis Holdings, a Hong Kong-listed subsidiary of Hsin Chong specializing in property management and maintenance.
Only time will tell what his future holds.
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