Who’s in Charge?
A multi billion dollar business run by proxy
In most multi-billion dollar industries the names of the senior executives are widely known. That’s not necessarily the case in Macau VIP gaming.
As an industry insider told IAG recently: “The newspapers go on about people like Ted Chan from the days when he was at Amax [the Hong Kong-listed junket aggregator], but the real people behind VIP gaming in Macau don’t do interviews and don’t have their photos in the newspapers. Most people in Macau don’t even know their names.”
Macau’s high roller trade is unique in the casino gaming world for the sheer volume of its business set against the distinct opacity of its management.
In an effort to shed some more light on the sector, IAG presents here an update on the prospects for Macau’s VIP business in the remainder of 2009 and how conditions on the ground relate to Mr Chang’s recent analyses and predictions. We don’t shirk from holding up our collective hands if his crystal ball was clouded on occasions, but nor are we shy of taking credit on his behalf where his call was on the mark.
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