assumed the title<\/a> of Senior CEO, giving more control of the company to his three sons as co-CEOs.<\/p>\nA couple of days ago, he took another step back. Chen transferred 67% of the issued shares he held in NagaCorp and put them in a family trust. Chen created the trust specifically for the creation of a succession plan.<\/p>\n
That trust, Sakai Trust, now holds 69.23% of all company-issued shares. Before the move, it indirectly controlled just 2.55% of the company\u2019s share capital.<\/p>\n","protected":false},"excerpt":{"rendered":"
The future of junkets in their traditional form is in doubt. Once a major part of casino operations and their VIP segments, the chairman of NagaCorp believes that they won\u2019t survive without making significant changes. For years, Macau, Australia and other casino hubs relied on junkets to bring in the high-rolling gamblers. The practice helped […]<\/p>\n","protected":false},"author":64,"featured_media":223328,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[81913,13363,13639],"acf":[],"yoast_head":"\n
NagaCorp Chair Sees the End of Traditional Junkets, Even on the Global Stage - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n