Alvin Chau named chairman of Summit Ascent Holdings

Suncity chairman Alvin Chau Cheok Wa has been appointed as the non-executive director and chairman of Summit Ascent Holdings Limited, with effect June 1, 2019.

The appointment follows Suncity buying a further 24.68 percent stake in Summit Ascent Holdings in late April, bringing its total interest in the operator of the Tigre de Cristal in Russia’s Primorye gaming zone to almost 28 percent.

Commenting on its reasons for the acquisition, Suncity said the group wants to build an integrated tourism-related platform through equity investments as well as provide tourism-related services to the resorts.  

Mr. Chau has entered into a letter of appointment with the company for a term of three years commencing from 1 June 2019 and expiring on 31 May 2022, which will be automatically renewed for the consecutive term(s) of three years, subject to retirement by rotation and re-election at the annual general meeting.