A major Macau casino junket operator has taken a significant stake in casino operator Macau Legend Development as the lines continue to blur between the two sectors.

On Monday, the Hong Kong-listed Macau Legend suspended trading in its shares ahead of a major announcement. On Tuesday, Macau Legend announced that Perfect Achiever Group Ltd, a British Virgin Islands-registered firm, had acquired a 20.65% stake in Macau Legend for HK$1.34b (US$173m).

Perfect Achiever is owned by Chan Weng Lin, the CEO of the Tak Chun Group junket. Tuesday’s release stated that Chan previously held a 0.1% share in Macau Legend, putting his total current holdings in the company at 20.75%. That puts Chan behind only Macau Legend’s co-chair (and former CEO) David Chow Kam Fai, who holds just under 30% of the company.

Macau Legend operates the Macau Fisherman’s Wharf hotel and also provides gaming services to three Macau casinos – Landmark Casino, Babylon Casino and the Legend Palace at Macau Fisherman’s Wharf – that operate under an SJM Holdings concession.