GGRAsia – Director exits Landing, new board hire ex Crown Resorts

Director exits Landing, new board hire ex Crown Resorts

Jan 10, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck

Hong Kong-listed casino developer Landing International Development Ltd says a new executive director has joined its board with effect from Thursday, due to the resignation of an incumbent.

Yeung Lo, the newcomer, has previously worked for a Macau investment firm and as a senior vice president of international marketing at the Crown Melbourne casino resort in Victoria, Australia. That is according to a Landing International filing on Thursday. Mr Yeung also becomes an authorised representative of the group.

He replaces Zhou Xueyun, who has resigned for “personal commitment” reasons.

Landing International created a resort with foreigner-only casino, called Jeju Shinhwa World, on South Korea’s Jeju Island. The gaming portion of the facility – Landing Casino – opened in February 2018.

The company’s new board member served as chief executive at Gongzi (Macau) Investment Co Ltd from 2018 to early 2019, and from 2015 to 2017 as a senior vice president at Crown Melbourne, a property operated by Crown Resorts Ltd.

Thursday’s filing said Mr Yeung would not be working via a service contract in his new role, but would be entitled to a director’s fee of just under HKD2.12 million (US$273,000) per year.

He has been appointed for a one-year fixed term; automatically renewable for successive one-year terms upon the expiry of a term. He is subject to retirement at the next following annual general meeting of the company after his appointment – and from then on subject to retirement by rotation at least once every three years, in accordance with the company’s by-laws.

According to a separate filing on Thursday, Landing International’s rejigged board has four executive directors, including the group’s chairman and controller, Yang Zhihui, and Mr Yeung; and three independent non-executive directors.