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Macau satellite casino promoter Emperor Entertainment Hotel has announced Emperor Group founder Albert Yeung’s son Alexander Yeung Ching Loong as the executive director and vice chairman of the board. The younger Yeung, who has also been appointed chairman of the executive committee, with assume the roles from April 1.
This appointment comes after Wong Chi Fai, a long-serving executive director and member of the executive committee, retired from his position. In its latest filing, the firm said Fai would be retiring from the position of executive director from April 1, “due to his desire to devote more time on his personal interests and affairs on reaching retirement age.”
Alongside this, Vanessa Fan Man Seung resigned as the chairperson of the executive committee. She will, however, remain on the company’s committee as a member.
The younger Yeung, 38-years-old, is no stranger within the Group, already holding multifaceted roles across various subsidiaries of Emperor Group. Alexander Yeung was already an executive director and vice chairman of the parent company, Emperor International Holdings Limited. In addition, he is chairman and executive director of both Emperor Culture Group Limited and Ulferts International Limited.
In its filing, the Macau satellite casino promoter has noted that Yeung “has years of experience in property investment and development as well as hotel operations and a wide range of management experience.”
This experience spans across “various businesses covering entertainment production and investment, artiste management, film production, investment and distribution, cinema development and operations, financial and securities services, retailing of watch and jewellery, retailing and wholesaling of furniture as well as media and publication.”
Along with his roles within the group, Yeung is also a member of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) and a member of the 14th Beijing Municipal Committee of the CPPCC.
Emperor Entertainment, which owns and operates several hotels in Hong Kong, has recently reported a rise in gaming revenue at Grand Emperor for half year. For the six months to 30 September 2024, Grand Emperor reported a 17.3 percent increase in gaming revenue. This increase was largely driven by the resurgence of Macau’s tourism market.
In late November, Emperor Entertainment reported an interim loss of HKD177.9 million for the six months to 30 September 2024. In the prior-year period, the company reported a net profit of HKD11.8 million. For the reporting period, revenue registered was HKD407.9 million. This marked an increase of 9.7 percent from the same period last year.