Hong Kong-listed International Entertainment Corp has revealed the appointment of Ho Wong Meng as its new chief executive. Mr Ho is the chairman and managing director of Frontier Capital Group Ltd. The latter company owns Clark’s Stotsenberg Hotel and FortuneGate Casino – formerly known as Casablanca Casino – on Philippines’ Luzon Island.
According to a Foreign Entertainment filing the same day his new position took effect on Tuesday. Mr Ho takes over from the resigning Thomas Chan Chun Yiu on Tuesday.
International Entertainment plans to build a casino resort in Manila. In a June 22 filing, the firm reported that a Philippine subsidiary had applied for a provisional licence to the country’s casino regulator, the Philippine Amusement and Gaming Corp. (Pagcor).
If approved, it will allow the company to “expand and upgrade” some of the Manila facilities it has been operating for over 17 years- by “the establishment and operation of a casino and the development of the integrated resort”.
International Entertainment said in its filing on Tuesday there was no set term for Mr Ho ‘s appointment. He is entitled to a director-remuneration of just over HKD1.8 million ( US$ 238.447) per year and a bonus with the sum to be decided by the board of International Entertainment in respect of each financial year.
In the filing Mr Ho was identified as having more than two decades of expertise in the gaming and hospitality industries , especially with the Genting community.
Frontier Capital Group resigned from the Australian Stock Exchange Board effective May 1.