David Chow laughs
Macau Legend Development Ltd. CEO, David Chow, has acknowledged that implementing a full smoking ban could hurt gaming revenue.
The casino tycoon recalled that competition within the gaming industry is high, and other jurisdictions across Asia and other parts of the world still allow smoking inside casinos. “We need to see whether it’s good for competition. This is a special industry,” he told reporters on the sidelines of the opening ceremony of Macau’s new antique gallery in Fisherman’s Wharf.
Mr Chow hinted that if gamblers in VIP rooms are forced to leave the casinos when they want to smoke, it would be uncertain as to whether they would return to gamble there afterward. “In the gaming industry, every minute counts,” he stressed.
“I have been in the casino industry for over 40 years and I believe those who are saying that the smoking ban can hurt [gaming revenue] a little. Because other casinos in Asia still allow smoking. Customers look for better service and smoking is part of the better service,” he added.
Nevertheless, Mr Chow acknowledged that the health issues triggered by smoking are indeed serious, particularly taking into account the fact that many young people now smoke.
The best option, he said, “is to stop selling cigarettes.” “If we are worried about general health, I think we should ask the government to stop selling cigarettes. If they stop selling cigarettes worldwide, I think it’s fair for competition,” he added.
Asked to comment on the number of casino concessions whose contracts will expire between 2020 and 2022, Mr Chow reiterated once again that he suggests the government open up the market to allow companies to bring something new to the city, not only within the gaming industry.
“Anybody that can bring something new to the market in Macau and develop good things here, I think the government cannot [let the market be] controlled just by three companies, we have to be more open. We need to be more international, and not rely just on China either,” he said.
“The license is one thing; it belongs to the Macau government. I am not talking about licenses but about the market and what’s good for Macau,” he added.
Macau Legend Development operates casinos under the license of billionaire Stanley Ho’s SJM Holdings Ltd.
Macau Legend Development inaugurated the first venue of the Fisherman’s Wharf redevelopment project in February – the Harbourview Hotel. It comprises 389 rooms and 55 suites.
With the opening of the Harbourview Hotel, Macau Legend Development is able to expand its gaming offerings, as it was granted 35 additional gaming tables by the Gaming Inspection and Coordination Bureau in October last year.
With more hotels in the pipeline, Macau Legend is due to apply for more gambling tables. However, Mr Chow did not disclose the total number they will be aiming for, as “it will depend on the market.”
Macau Legend already owns and operates three hotels, the Landmark Macau, Rocks Hotel and Harbourview Hotel. Under construction are two premium five-star hotels, the Legend Palace Hotel and the Legendale Hotel, with their completion scheduled for 2016 and 2017 respectively.
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