Macau satellite casino promoter Emperor Entertainment Hotel Ltd has announced the appointment of Alexander Yeung Ching Loong as vice chairman of the board and as company executive director.
The move takes effect from April 1, said the firm in a filing to the Hong Stock Exchange on Monday.
Mr Alexander Yeung is a son of Albert Yeung Sau Shing, the controlling shareholder of Emperor Entertainment and its parent Emperor Group.
Emperor Entertainment is chaired by Semon Luk Siu Man, wife of Mr Albert Yeung and the mother of Mr Alexander Yeung.
According to Emperor Entertainment’s Monday filing, Mr Alexander Yeung, aged 38, has “years of experience in property investment and development as well as hotel operations and a wide range of management experience in various businesses covering entertainment production and investment, artiste management, film production, investment and distribution, cinema development and operations, financial and securities services, retailing of watch and jewellery, retailing and wholesaling of furniture as well as media and publication.”
He holds board positions in a number of other Hong Kong-listed companies part of Emperor Group.
Mr Alexander Yeung is currently a member of the National Committee of the Chinese People’s Political Consultative Conference.
As part of his new role at Emperor Entertainment, he is entitled to a director’s fee of HKD100,000 (US$ 12 829) per year.
In its latest filing, the firm also said Wong Chi Fai would be retiring from the position of executive director from April 1, “due to his desire to devote more time on his personal interests and affairs on reaching retirement age.”
Emperor Entertainment runs casino venue the Grand Emperor Hotel (pictured) in downtown Macau. The casino is promoted under the licence of gaming concessionaire SJM Holdings Ltd.
Emperor Entertainment operates a second hotel in Macau, called Inn Hotel, but that property does not have gaming facilities. The group also has hotel operations and serviced-apartment business in Hong Kong.
Emperor Entertainment reported in late November an interim loss of HKD177.9 million for the six months to September 30, 2024. The figure compared with a net profit of HKD11.8 million in the prior-year period. Revenue for the latest reporting period rose by 9.7 percent year-on-year, to HKD407.9 million, stated the company at the time.
Under a new gaming regulatory framework – coinciding with the current 10-year concessions of the six Macau operators – from 2026, third-party investors in Macau satellite casinos will only permitted to earn a “management fee” via a ‘management company’.
Third-party investors in satellites will not be permitted to share directly in economic value of the satellites’ gaming business generated via a concessionaire’s licence.
