Jul 02, 2014 Newsdesk Latest News, Philippines, Rest of Asia, Top of the deck  
Genting Hong Kong Ltd – a joint venture partner in the Resorts World Manila casino resort (pictured) in the Philippines – said in a filing on Wednesday that its president had resigned.
David Chua Ming Huat tendered his resignation with effect from January 2, 2015. But in the interim, his ultimate boss, Lim Kok Thay, the chairman of Genting Hong Kong’s parent, Malaysia’s Genting Bhd, takes over as acting president with immediate effect, said the statement.
“Mr Chua has confirmed that he has no disagreement with the board and there are no other matters that need to be brought to the attention of the shareholders of the company in relation to his resignation,” added Genting Hong Kong in its filing to the Hong Kong Stock Exchange.
Genting Hong Kong also operates casino cruise ships under the Star Cruises brand. The company’s vessels are based in Hong Kong, and are permitted to open their gaming floors only after steaming into international waters.
Mr Chua was involved in managing the opening in 2009 of Resorts World Manila.
Last year, the collaboration with Philippine-based Alliance Global Group Inc – a joint venture known as Travellers International Hotel Group – postponed a share sale designed to raise money for a second casino resort in Manila, the US$1.1 billion Resorts World Bayshore project. In July 2013 the JV said it was instead allocating US$600 million to expand its existing property.
Resorts World Manila’s second phase, which includes the expansion of the Marriott Hotel Manila and the addition of 227 rooms, should be ready by the end of 2015.
Phase 3 will comprise a new gaming area and two new hotels – the Hilton Manila and the Sheraton Hotel Manila, Travellers has said. The third phase is scheduled to be completed by 2017.
May 31, 2023
May 24, 2023
Jun 07, 2023
Jun 07, 2023
Jun 07, 2023
Chinese government policies relevant to investors and consumers might “turn more positive” if the country’s economic-growth momentum “continues to weaken”, says a note from...Jun 07, 2023
Casino gaming content and hardware provider Light &...Jun 06, 2023
Electronic table games (ETGs) supplier Interblock dd is...Jun 05, 2023
Random number generator (RNG) testing tools are among the...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”We’ve said we want to grow EBITDA ... to US$1.4 billion in 2025. And we have a really high level of conviction about getting there”
Matt Wilson
Chief executive of casino equipment provider Light & Wonder