The chief financial officer of U.S.-based casino currency supplier Gaming Partners International Corp (GPI), Michael Mann, has resigned. Mr Mann had been appointed CFO in September last year.
GPI said in a filing the resignation was tendered on July 7, effectively immediately.
Notwithstanding his resignation, the company agreed to pay Mr Mann a severance payment equal to three months of his annual salary, GPI said.
The company did not provide a reason for the sudden departure of Mr Mann.
GPI chairman Alain Thieffry was appointed interim CFO until a replacement for Mr Mann is hired. The company said it has already started the search for a new CFO.
GPI announced earlier this month the acquisition of GemGroup Inc, a U.S.–based manufacturer of playing cards, casino chips and table layouts, for US$19.75 million.
GPI supplies casino currency and table products for several Asian casino operators. The company has offices in Macau.
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"If the [Macau casino] concessions are put up for bid, there will also be a lot of giant Chinese companies, some having nothing to do with gaming, which would like to take over these enormously successful casinos”
Professor emeritus at Whittier Law School in California, in the United States, and a visiting professor at University of Macau