Hong Kong-listed International Entertainment Corp has named its new chief executive, Ho Wong Meng. Mr Ho is the executive chairman and director of Frontier Capital Group Ltd. The latter entity owns the Stotsenberg Hotel and FortuneGate Casino in Clark - formerly known as the Casablanca Casino – on Luzon island in the Philippines.
His new role took effect on Tuesday, according to an International Entertainment filing the same day. Mr Ho takes over from Thomas Chan Chun Yiu, who resigned on Tuesday.
International Entertainment has planned to develop a Manila casino resort. The firm mentioned in a June 22 filing, that a Philippine subsidiary had applied to the country’s casino regulator, the Philippine Amusement and Gaming Corp (Pagcor), for a provisional licence.
If granted, it could enable the firm to “expand and upgrade” some Manila facilities it has been operating for over 17 years – by “the establishment and operation of a casino and the development of the integrated resort”.
In its Tuesday filing, International Entertainment said there was no fixed term for Mr Ho’s appointment. He is entitled to director-remuneration of just over HKD1.8 million (US$238,447) per year, and the possibility of a bonus in respect of each financial year, with the amount to determined by International Entertainment’s board.
Mr Ho was described in the filing, as having more than two decades of expertise in the gaming and hospitality industries, mainly with the Genting group.
Frontier Capital Group left the Australian Securities Exchange board with effect from May 1.
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