• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Melco Crown’s COO Ted Chan resigns

Nov 09, 2016 Newsdesk Latest News, Macau, Top of the deck  


Melco Crown’s COO Ted Chan resigns

Asian casino developer and operator Melco Crown Entertainment Ltd announced on Tuesday that the company’s chief operating officer, Ted Chan Ying Tat (pictured), has resigned “for personal reasons”.

Melco Crown said it would not be naming a replacement COO. Lawrence Ho Yau Lung, chairman and chief executive of the company, will personally take on day-to-day operational leadership, according to Tuesday’s press release.

“Melco Crown has been actively evaluating its operations to optimise financial performance with a focus on improving its marketing initiatives and creating a more efficient reporting structure,” the company said.

Mr Chan had been appointed Melco Crown’s COO in February 2012. He was responsible for overseeing all business units of the group.

“We thank Ted for his many contributions to the company over the years, and we wish him all success in his future endeavours,” said Mr Ho in a statement included in Tuesday’s announcement.

The firm said it would be “using this opportunity to transform its leadership structure in a manner designed to streamline operations”. It did not say if the leadership restructure involved other changes.

“Melco Crown’s recent performance has improved, but I believe we have many more near-term opportunities to drive growth and profitability,” said Mr Ho.

“The new structure will allow for quicker decision making and reactions to a fast-changing market, which should make the company even more competitive in this challenging period of time,” he added.

In mid-September it emerged that JD Clayton – the president of Studio City casino resort in Macau’s Cotai district since the property’s pre-launch phase – had left, and that David Sisk, a former chief operating officer for Macau casino operator Sands China Ltd, had been hired by Melco Crown to assume that position. Studio City is 60-percent owned by Melco Crown.

Brokerage Sanford C. Bernstein Ltd mentioned in a Wednesday note that not only was Mr Chan departing, but also it had been confirmed that Alidad Tash, senior vice president of gaming operations and strategy, had also left the company.

“Chan’s resignation raises some concerns with respect to execution risk as all senior management changes have an element of uncertainty (especially in the short term),” said the note from analysts Vitaly Umansky, Zhen Gong and Yang Xie.

The memo added: “Chan had been [co-]COO since September 2010 (and prior to that president of Altira) and was instrumental in the repositioning of City of Dreams into a premium mass [gambling segment] powerhouse. It has also been confirmed that Alidad Tash, senior vice president of gaming operations and strategy has resigned from the company.”

Mr Ho gained control of Melco Crown earlier this year, as its Australian partner – Crown Resorts Ltd – decided to reduced its stake in the company. Melco International Development Ltd, a firm controlled by Mr Ho, now holds 37.89 percent of Melco Crown.

Melco Crown last week reported a profit of US$62.0 million for the third quarter of 2016, an increase of 86.7 percent from the prior-year quarter.

(Update at 10.05am, Nov 9)


  • tweet
Related articles
  • Gaming recovery helps Melco Resorts EBITDA break even 4Q
    Gaming recovery helps Melco Resorts...

    Feb 26, 2021  

  • Goldstein confirmed chair, Dumont COO at Las Vegas Sands
    Goldstein confirmed chair, Dumont COO...

    Jan 27, 2021  

More news
  • Genting Malaysia 4Q EBITDA halved sequentially
    Genting Malaysia 4Q EBITDA halved...

    Feb 26, 2021  

  • Macau VIP challenged by changes in China: Galaxy Ent boss
    Macau VIP challenged by changes in...

    Feb 25, 2021  


Latest News

Gaming recovery helps Melco Resorts EBITDA break even 4Q

Gaming recovery helps Melco Resorts EBITDA break even 4Q

Feb 26, 2021  

Melco Resorts and Entertainment Ltd said group-wide adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) were back on positive ground in the fourth quarter of...
Read More
Genting Malaysia 4Q EBITDA halved sequentially

Genting Malaysia 4Q EBITDA halved sequentially

Feb 26, 2021  

Macau VIP challenged by changes in China: Galaxy Ent boss

Macau VIP challenged by changes in China: Galaxy Ent boss

Feb 25, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$129.0 million

Adjusted EBITDA reported by Macau casino operator Galaxy Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • GEG in US$1.6bln construction deal on Galaxy Macau Phase 4GEG in US$1.6bln construction deal on Galaxy Macau Phase 4 February 22, 2021
  • Caesars out of Korea, ex-partner R&F asks 3yr delayCaesars out of Korea, ex-partner R&F asks 3yr delay February 19, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us