Silver Heritage Delists from ASE

Sat, Jul 31, 2021

Silver Heritage Group was delisted from the Australian Securities Exchange on July 23. The company had been on the rocks since revenues from the Phoenix International Club in Vietnam were cut off in early 2019.

Silver Heritage Delists from ASE

Casino operator Silver Heritage Group was officially delisted from the Australian Securities Exchange at the close of trading on July 23. The company, acquired by Philippines-based HatchAsia in January, had been struggling since March 2019, when gaming revenues from the Phoenix International Club in Vietnam were cut off.

According to GGRAsia, the delisting followed the appointment of a new chairman and six months after HatchAsia bought a 92 percent stake in the company and replaced six members of its board.

The company entered voluntary administration in May 2020. Revenues from the Phoenix had accounted for nearly half of the group’s revenue in 2018.

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