Summit Ascent Holdings has announced board room changes after Suncity Group Holdings increased its stake in the operator of Tigre de Cristal earlier this month.
Suncity Group Holdings has bought a further 24.68 percent stake in Summit Ascent Holdings for HK$717.8 million ($91.5 million) as it seeks to build an “integrated tourism-related platform.”
Summit Ascent said its executive director and deputy chairman John Wang has resigned to pursue other business interests with effect from April 12.
Construction in the once sleepy seaside town of Sihanoukville is everywhere, with cranes, cement trucks, container lorries, and excavation generating clouds of endless dust.
Cambodia’s casino boom is continuing, with a 53 percent increase in licenses granted during 2018 and growing interest from Macau-based operators and junkets as Chinese tourism and investment surges.
Despite regulatory uncertainty and a relatively high risk profile, land-based operators will be closely watching developments across the Indochina region over the coming months.