Aug 16, 2019 Newsdesk Latest News, Top of the deck, World
Boutique Asian casino operator Donaco International Ltd says it has appointed Yugo Kinoshita as an independent non-executive director to its board. Mr Kinoshita (pictured in a file photo) is the global chief executive of gaming manufacturer Aruze Gaming America Inc.
“The board of Donaco confirms that with the appointment of Mr Kinoshita, the board renewal process is now complete,” the company told the Australian Securities Exchange on Thursday.
Donaco, an operator of casinos in Indochina, said on Tuesday it had appointed two new non-executive directors to its board. The company told the stock exchange that Leo Chan Yan Ho and Kurkye Wong were representatives of Argyle Street Management Ltd, an institutional investor.
Aruze Gaming, based in Las Vegas, Nevada, in the United States, designs, develops and manufactures slot machines and gaming devices for the global casino market. Its product range includes high-resolution video and stepper slot machines, and multi-terminal devices.
According to Donaco’s latest filing, Mr Kinoshita – as a senior executive responsible for Aruze Gaming’s corporate strategy and finance department – helped the gaming manufacturer “increase revenues by approximately 15 percent while decreasing expenses by approximately 9 percent during the past 12 months”.
“During Yugo’s leadership of Aruze, the company has enjoyed significant success in operations and in product recognition,” said the Australia-listed firm.
Donaco has recently restructured its management team, with the appointment of Paul Arbuckle as its CEO and new members to its board.
In July the shareholders of Donaco voted at an extraordinary general meeting called by three shareholders to remove from the board Joey Lim Keong Yew and Ben Lim Keong Hoe, who are brothers belonging to the family that founded Malaysian gaming company Genting Bhd.
Mr Joey Lim is the founder of Donaco and was its managing director and chief executive until March 19. Mr Ben Lim then became acting chief executive, serving until the middle of June.
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