Silver heritage group ltd appoints new cfo

Silver heritage group ltd appoints new cfo

Hong Kong-based Silver Heritage Group Ltd (ASX:SVH), which operates and manages, through wholly or majority-owned subsidiaries, Asian casinos and gaming assets in Vietnam, Nepal and Laos, has appointed Basil Jong as the firm’s new chief financial officer (CFO), effective November 6th, according to a filing Thursday to the Australian Securities Exchange (ASX).

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GGRAsia reports that most recently, Jong held the CFO position in Sydney for the Brisbane Racing Club, the owner of two racecourses. According to the ASX filing, the club receives revenue from the operation of electronic gaming machines (EGMs).

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Including his experience as CFO, Jong’s casino resort experience was with the owner of Alice Springs Hotel Casino and Convention Centre, in various capacities. The casino and hotel group, according to the filing, previously owned the Wharf Casino in Queenstown.

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In the same filing, the firm announced the departure of Martin Wright, the existing CFO who had reportedly been with Silver Heritage Group since 2006 and left in the pursuit of other interests. GGRAsia reports that the filing stated that Wright would remain with the firm through the end of December in order to assist with the transition and the completion and opening of its first luxury casino resort, Tiger Palace Resort Bhairahawa, near the India-Nepal border.

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Last month, the company confirmed earlier reports that the much anticipated Tiger Palace will open in phases beginning in September with the casino opening before December.
The Thursday ASX filing stated: “The managing director and chief executive Mike Bolsover, and the entire board of directors of Silver Heritage would like to thank Martin for his significant contribution in assisting in growing the group from its private start-up phase into its current position as an experienced listed regional gaming operator,” as reported by GGRAsia.