Hong Kong-listed Summit Ascent Holdings Ltd, the controlling stakeholder of Russian integrated resort Tigre de Cristal in the Primorye special economic zone, has named Suncity Group executive director Andrew Lo as its newest board member.
Lo has been appointed a non-executive director for an initial period of three years, Summit Ascent said, starting from 12 December 2018 and continuing through until 2021. It added that he won’t be paid any director’s fee but will be reimbursed for any reasonable expenses accrued as a result of his duties.
The 39-year-old is an executive director and Chief Investment Officer of Suncity Group where he oversees much of the company’s business development operations. He is also responsible for corporate management, mergers and acquisitions.
Suncity Group, which holds a 3.29% stake in Summit Ascent, is best known as Macau’s leading junket operator although it has recently begun expanding into casino operations and management.
Suncity will open its first IR, Hoiana in central Vietnam of which it owns 34%, in 2019 and also announced recently an agreement with Golden Sun Sky Entertainment Co to provide both pre-opening and casino management services for an under-construction casino resort in Sihanoukville, Cambodia.
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