Macau casino operator Galaxy Entertainment Group Ltd has hired Ted Chan Ying Tat (pictured), a former senior executive of its Macau market rival Melco Resorts and Entertainment Ltd, as chief operating officer of its “Japan development team”.
Galaxy Entertainment said so in a Thursday press release. Melco Resorts is also a suitor for a Japan casino licence.
The Galaxy Entertainment reshuffle also sees Michael Mecca move to the board from his role as president with responsibility for international development, a job he had held since 2015, before which he was group president and chief operating officer.
Mr Chan resigned from what was then Melco Crown Entertainment Ltd in November 2016, for what the firm said were “personal reasons”.
He had been appointed Melco Crown’s chief operating officer in February 2012. He joined the firm in November 2008, after having been recruited from a unit of the Amax brand, which had provided VIP gambling services to the Altira Macau casino resort in Taipa.
Francis Lui Yiu Tung, deputy chairman of Galaxy Entertainment, said in a statement contained in Thursday’s release he was “confident” that Mr Chan would “add significant value to our existing team and successfully drive the execution of our Japan International expansion ambitions.”
He added: “Ted brings a wealth of gaming and integrated resort experience to Galaxy Entertainment.”
Mr Chan will be based in Japan. His appointment was effective from April 10.
A Thursday note from brokerage Sanford C. Bernstein Ltd said the institution viewed the appointment as “positive for Galaxy”, adding it stopped Mr Chan “going to a competitor” in the Macau home market.
“The company has been positioning itself as a strong potential candidate for a Japan integrated resort development if the gaming process were to move forward,” the note added.
Galaxy Entertainment’s Mr Lui stated regarding Mr Mecca: “I would like to take this opportunity to extend my sincere thanks to Mike for his significant contributions to the company’s success during his nine year’s tenure.”
Sanford Bernstein said of Mr Mecca: “He remains a director of Monte-Carlo SBM and joins the Japan development committee.”
An aide of the Philippines’ President Rodrigo Duterte reportedly announced on Wednesday that Galaxy Entertainment would not be allowed to have a casino resort on the Philippine holiday island of Boracay.
(Updated 4.15pm, April 12)
Sep 18, 2020The Singapore Tourism Board (STB) has announced several partnerships to support local business and boost the city’s tourism industry, amid the coronavirus pandemic. The tourism board said in a...
”Many investors cite Golden Week as a catalyst to significant, sustainable visitation increases and a showcase for profitability for many casinos [in Macau]... However… we are concerned recovery estimates may again be pushed back”
Analyst at Roth Capital Partners