Hong Kong – Macau casino operator Sociedade Jogos de Macau S.A., owned by local gambling tycoon Stanley Ho, has hired a top executive from rival Las Vegas Sands Inc. to oversee its business development in the enclave, the company said Wednesday.
Frank McFadden was appointed president of joint ventures and business development of SJM, it said.
„Apart from providing support to casino operations, Mr. McFadden will also be responsible for the development of new projects,“ SJM said in a statement.
McFadden was most recently the chief operating officer of Venetian Macau Ltd., which operates The Sands Macao Casino and is currently constructing the Macao Venetian Casino Resort. He was also chief executive of Vienna-based Casinos Austria International Ltd. until 2004.
„We believe that given Frank’s extensive international experience and proven track record of success, he will bring international best practices and service orientation to the company,“ said Ho, SJM‘s managing director.
Macau, a former Portuguese colony which returned to Chinese rule in 1999, is the only place in China where casino gambling is allowed. In 2002, the city’s government ended the gambling monopoly that Ho held for several decades.
Las Vegas Sands, controlled by casino mogul Sheldon Adelson, became Ho’s first competition in 40 years when it opened the Sands Macau in 2004. Other U.S. casino operators such as MGM Mirage and Wynn Resorts Ltd. also have casino interests in Macau.