Inside Asian Gaming

September 2015 inside asian gaming 51 donations are factored together, the total exceeds $25 billion. “This is a result of the right strategy, the right investment in facilities and technology,” he said. “I think it has to do with people— we have a fantastic team who are able to understand what our customers want and provide those services.” At the same time, he acknowledges that 2014-15’s performance will be difficult to emulate in the year ahead as economic headwinds in greater China conspire to make the new season “a little bit more challenging,” as he has put it. But “It is not for us to rest on our laurels,” he said. “Our goal is to improve further.” He’s also facing the challenges of a management restructuring in the wake of the pending departure of his hand-picked executive director, the accomplished Bill Nader, a former head of the New York Racing Association who has been instrumental in assisting Mr Engelbrecht-Bresges in turning the club’s fortunes around. But he brings a wealth of experience and contacts to the task. He is vice chairman of the Asian Racing Federation, whose members include 20 of the sport’s governing bodies in the region. He is also vice chairman of the International Federation of Horseracing Authorities. His tenure with the HKJC goes back to 1998, when he was named director of Racing. In 2000, he was promoted to executive director, Racing, the post Mr Nader has held since 2007. Prior to joining the HKJC he served six years as CEO of the governing body of German horseracing and breeding. A lot can happen in three years—and in Macau, obviously, a lot has—and the market that will be greeting the opening of Stephen Hung’s Louis XIII sometime next summer will be a decidedly different place than what the Hong Kong financier envisioned when plans for the super-high-end resort were announced back in 2012. Of course, a lot can happen between now and then as well. But absent a major policy reversal by the government of China under Communist Party boss Xi Jinping, whose nationwide campaign to root out corruption, graft and illicit capital flows has scared off wealthy mainland gamblers en masse , Louis XIII could be hard- pressed to find the requisite stream of mainland VIPs willing to Stephen Hung Co-Chairman and Executive Director Louis XIII Holdings risk the very conspicuous consumption demanded by its luxurious suites and villas—the most opulent of which, at 20,000 square feet, is promoted at HK$1 million a night—and its invitation-only ateliers and baccarat tables billed as starting at HK$10,000 a hand. And yet, conceptually, Mr Hung’s vision of Louis XIII as a “lifestyle experience” for the “world’s wealthiest” is unlike anything Macau has ever sought to offer. On the basis of the boutique scale of it alone—238 suites, an intimate gaming offering comprised of a mere 66 tables—the property will be unique among the big box resortxs going up around it on Cotai. Through his Hong Kong-listed Louis XIII Holdings the former investment banker has secured the US$1 billion-plus to build it to a standard that ensures there’ll be no scrimping on extravagance. Senior management is in place, with Macau gaming veteran Walt Power as CEO and a roster that includes executives from Banyan Tree, Lan Kwai Fong Group, Keppel Land, Melco Crown Entertainment and The Venetian Macao. Heading interior and exterior design is acclaimed New York architect Peter Marino, who’s designed flagship stores for Chanel, Louis Vuitton, Loewe and Christian Dior. Renderings show a swirling tower of red leaves encircling glass and crowned with a 20-meter “diamond”. Once inside, guests will be regaled with exclusives that include an outlet by famed jewelry merchants Graff and the only Michelin three-star L’Ambroisie restaurant outside Paris and face time with Mr Hung’s “special advisor” Tania de Bourbon Parme, “Her Royal Highness,” as she’s styled on the Web site, reputedly a direct descendant of the last kings of France. As for the all-important gaming license, there has been no word on that to date. But Mr Hung has a casino operating agreement dating back to 2008 with an unnamed “concession or subconcession,” believed to be Melco Crown. His casino connections also extend to SJM. He’s vice chairman of Rio Entertainment Group, operator of the Rio Hotel & Casino, a sub-licensee of SJM’s on the Macau peninsula.