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The main investor of Tigre de Cristal casino has a new chairman
Reporting on the news of the Primorye gambling resort, we mentioned that the only functional casino of the region, Tigre de Cristal, changed the main owner. Summit Ascent Holdings Ltd purchased 30% of shares from Melco International Development (MID Ltd). The deal was estimated at $250 million.
Later, it was revealed that the new main investor of Tigre de Cristal changed the top executive. The position of chairman was taken by Kuo Jen Hao, known as the head of the shipping operator First Steamship Company Ltd, replacing Lawrence Ho. The Chinese shipping concern bought 12.67% of shares of Summit Ascent Holdings in mid-December of 2017.
Mr. Hao is an experienced entrepreneur and investor that has been occupying management positions at private and exchange-listed companies.