Macau junket operator Levo Chan has replaced Melinda Chan as chief executive of casino operator Macau Legend Development.
The change comes as Chan, CEO of junket group Tak Chun, moves to solidify his control of Hong Kong-listed Macau Legend after a series of share purchases last year totaling roughly 33 percent of the company’s equity.
Melinda Chan, wife of Macau Legend founder David Chow, will remain an executive director and the two still hold a significant stake in the closely held company, around 26 percent, with the balance comprised of Levo Chan’s holding and those of directors Sheldon Trainer and Li Chi Keung and Chow’s mother, Lam Fong Ngo.
Chow will serve as co-chair with Levo Chan.
Macau Legend operates three casinos in Macau under the umbrella of gaming concessionaire SJM Holdings, as well as a casino in Laos. It plans to expand into Cape Verde via a number of resort development agreements.