Melinda Chan reappointed as CEO of Macau Legend

Melinda Chan has been reappointed as the chief executive officer of Macau Legend Development Ltd., the company announced in a filing. 

This announcement came a month after junket mogul Levo Chan, a major shareholder and co-chairman of Macau Legend, was arrested on suspicion of operating illegal online gambling and side-betting activities.

Melinda Chan has been the executive director since March 26, 2020 and served as the company’s chief executive officer between March 26, 2020 and December 29, 2020. 

Previously, she said that Macau Legend is aiming to operate its casinos under the company with their own gaming concession soon.

Macau Legend currently operates their casinos under a service agreement scheme, using the license owned by the concessionaire SJM Holdings Ltd, a situation the company hopes to change.

In a statement following the arrest of Levo Chan, the company said that its daily operations would not be affected. 

The shares of the group plunged by 20% to an all-time low following the arrest.

The arrest came nearly two months after the arrest of another junket mogul, Alvin Chau, leading to the closure of Suncity, which once saw HKD180 billion in bets by high rollers in its VIP rooms in a single month.

These arrests underscore China’s intensifying crackdown in the world’s biggest gaming hub.

Also, in the filing, Macau Legend further announced that Li Chun Tak has been appointed as non-executive director while Patrick Mak Ka Wing has been appointed as an independent non-executive Director.

Li Chu Kwan, an executive Director, has been appointed as chairman of the board, who, together with David Chow, a non-executive director, serves as the co-chairman of the company.