Outspoken businessman David Chow Kam Fai, co-chairman of Macau Legend Development, said yesterday that the government needed to take Wynn Resorts’ recent transfer of shares to Galaxy Entertainment Group very seriously. He also said that the situation could result in unfairness for the upcoming bidding process for gaming concessions.
Chow, a member of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), made the remarks while speaking to reporters after attending a culinary event named Brazilian Carnival at Macau Fisherman’s Wharf yesterday evening.
Galaxy announced earlier this month that it had decided to buy a 4.9 percent stake in US-based Wynn Resorts. Following the deal, the Macau government said that it was legal.
Macau Legend Development Co-chairman David Chow Kam Fai speaks to reporters during a culinary event called Brazilian Carnival at Macau Fisherman’s Wharf yesterday. Photo: Maria Cheang Ut Meng
