Hong Kong’s Summit Ascent Holdings, which operates the Tigre de Cristal resort in Russia’s Primorye gaming district, has announced the appointment of David Chua as its new executive director and CEO. Chua is chairman of Resorts World Manila operator Travellers International Hotel Group Inc.
Chua will join Summit Ascent for an initial term of three years starting on May 1, reported Inside Asian Gaming. His annual compensation will be HK$3.6 million (US$463,000).
Chua joins Summit Ascent after 15 years with companies associated with Malaysia’s Genting Group. He was chief operating officer of Genting Berhad from September 2006 to February 2007, president of Genting Hong Kong from May 2007 to January 2015, and a director of Norwegian Cruise Line Holdings, of which Genting Hong Kong once held an minority share, from July 2011 to March 2015.
Summit Ascent’s deputy chairman and executive director, Andrew Lo Kai Bong, is currently the company’s “chief operating decision maker, for the purpose of allocating resources to segments and assessing their performance,” according to corporate documents.
Summit Ascent said last week that its 2020 profit fell 87.8 percent year-on-year, on revenue that was down 60.4 percent.
Profit was HKD10.0 million compared to HKD82.0 million in 2019. The 2020 revenue was HKD211.2 million versus HKD532.8 million a year earlier.
Genting Hong Kong holds a 50 percent stake in Travellers International Hotel Group Inc, which opened Resorts World Manila in 2009.