Billionaire Stephen Hung has resigned his role as joint chairman and executive of the 13 Holdings Ltd., whose planned Macau casino hotel, also called the 13, is still not open more than five years after it was announced.
Inside Asian Gaming reports that Hung’s departure was revealed in a January 25 filing to the Hong Kong Stock Exchange, with the 13 Holdings Ltd. confirming that Hung “ceased to be member of the nomination committee of the company, member of the finance and investment committee of the company and Chairman of the executive committee of the company.”
Peter Coker is now chairman of the company, with Tom Lau Ko Yuen staying on as deputy chairman.
Hung stepped down two days after the company announced yet another delay in the opening of the 13; a planned 31 March launch has been changed to April 30. The 13 Holdings continues to seek funding to complete the hotel and has proposed an HK$973 million (US$124.4 million) issuance of rights issue shares.
Hung says he had “no disagreement” with the company’s board and there were “no matters with respect to his resignation that need to be brought to the attention” of shareholders.
