Lee Choong Yan (pictured), who has held senior roles at international casino group Genting Malaysia Bhd since 2006, has from Monday been named “senior advisor and executive director”. He was most recently the group’s president and an executive director.
Mr Lee will retire as senior advisor on April 30, and from May 1, be redesignated as non-independent non-executive director.
That is according to a Monday filing by the international casino firm to Bursa Malaysia. It did not give reasons for the changes, or mention succession arrangements.
Per the filing, 65-year-old Mr Lee – a trained accountant – has been a board member since January 2020 and Genting Malaysia’s president and executive director since April 2022.
He had first been appointed president and chief operating officer (COO) in August 2006.
Monday’s filing added he has been “responsible for the development and implementation of corporate strategies as well as management of the operations of the company and its subsidiaries”.
He was president and COO of Genting Malaysia during the period in 2022 when the Genting group made its ultimately-unsuccessful bid for a gaming concession in the Macau market.
Monday’s filing described Mr Lee also as chief executive of Genting UK Plc, a subsidiary in the United Kingdom, “where the group owns and operates over 30 casinos together with an integrated resort, Resorts World Birmingham”.
The filing further stated: “In addition, he oversees Genting Malaysia Group’s businesses in the United States and the Bahamas.
“His responsibilities also include directorships in other companies within the Genting Malaysia Bhd group.”
Genting Malaysia reported in a Thursday filing that it was back to profit in the fourth quarter, though revenue was down at its monopoly Malaysian casino complex Resorts World Genting, at Genting Highlands outside the capital Kuala Lumpur.
The group was approved in December for a full commercial casino licence by the New York State Gaming Commission, for the group’s Resorts World New York City venue in the United States.
Genting Malaysia remains listed on Bursa Malaysia, after its parent, Genting Bhd, was unable to reach the 75-percent shareholding threshold needed to take it private.
