GGRAsia – Jimei International CEO resigns, remains with group

Jimei International CEO resigns, remains with group

Feb 22, 2016 Newsdesk Latest News, Rest of Asia, Top of the deck

Casino junket investor Jimei International Entertainment Group Ltd announced on Monday that Kennis Wong Kwok Leung resigned from his position as company chief executive. The resignation was effective Monday, the firm said in a filing to the Hong Kong Stock Exchange.

Mr Wong also resigned from executive director of the company. He will remain as director of several Jimei International subsidiaries, the filing stated, without naming the subsidiaries.

Jimei International said Mr Wong’s departure was related to his “other business engagements”. The firm praised his “valuable contribution” to the company during his tenure in office.

“The company is in the process of identifying a suitable candidate to assume the role [of] CEO and further announcement in this regard will be made as and when appropriate,” Jimei International said.

The company did not appoint an interim CEO; instead, it stated that the CEO responsibilities would be assumed by the existing management.

Jimei International – controlled by Jack Lam Yin Lok, one of Macau’s most experienced casino junket executives – announced in February 2015 a junket arrangement with Crown Perth, a casino property in Western Australia operated by Crown Resorts Ltd. Under the junket arrangement, Jimei International said in August it had “assisted to promote approximately eight to 10 gaming tables at the Crown Perth Casino”.

In May last year, Jimei International entered into a similar junket arrangement with NagaCorp Ltd relating to seven VIP tables at the latter’s NagaWorld casino resort in Cambodia.

Mr Lam is also chairman of Jimei Group Ltd, one of Macau’s largest consolidators of gaming promoters. Jimei Group runs Jimei Casino, next door to the Grand Lapa hotel on Macau peninsula, under an SJM Holdings Ltd gaming licence.