Major gambling operator Silver Heritage Group announced it has appointed its new Chief Financial Officer. Basil Jong’s appointment as the Group’s new CFO is expected to come into effect on November 6 as became evident by a filing the Australia-listed company released to the Australian Securities Exchange.
The newly appointed Mr. Jong certainly does not lack experience in this field, considering he previously assumed the position of a Chief Financial Officer at the Brisbane Racing Club, located in Sydney, Australia. The Brisbane Racing Club is the sole owner of two racetracks but it also generates revenue from operating the so-called electronic gaming machines or EGMs, according to the filing.
Members of the Silver Heritage Group commended the soon-to-be CFO on his vast range of capabilities as Mr. Jong has been previously working with another integrated resort operator, which owns the luxurious Alice Springs Hotel Casino and Convention Center. The said company also used to own and manage the Wharf Casino, located in Queenstown, New Zealand.
Representatives of the major gaming operator revealed Mr. Jong is to assume the position after the departure of the current Chief Financial Officer of Silver Heritage Group, Martin Wright. Mr. Wright has been working with the Australia-listed gambling operator for over ten years now as he first started with the company back in 2006.
Members of the Silver Heritage Group disclosed that Mr. Wright plans on parting ways with the company in pursuit of his other interests. The Group’s Board of Directors took the opportunity to express their gratitude to Mr. Wright’s contribution in transforming Silver Heritage into one of the most successful regional gambling operators in the world.
Existing CFO is to Remain with the Group until Tiger Palace’s Opening
The existing CFO is to remain on duty with the Group until the end of the year so as to assist his successor in assuming his new responsibilities. It is assumed that the other reason for Mr. Wright’s delayed departure in December is that he wishes to see through the construction completion and the launch of the Group’s latest massive venture, namely the opening of the Tiger Palace Resort Casino in Nepal.
The Silver Heritage Group is a well-known presence in the Asian gambling market as the company owns and manages two casino establishments on the world’s biggest continent – one venue is located in Vietnam while the other one, Tiger Palace, is in Nepal. The Tiger Palace Resort is located on the outskirts of Nepal’s Bhairahawa municipality, which is only 12 kilometers away from the border with India.
The construction of the opulent casino resort was hindered on several occasions and the last one was this past July, when the Silver Heritage Group was forced to request additional financing in order to proceed with its expensive venture. However, the delays were overcome and the Tiger Palace Resort is expected to officially open doors and welcome its first customers at the end of November 2017.
The casino floor is to be home to over 50 table games and as many as 200 gaming machines. Apart from gambling activities, visitors will be able to enjoy various other attractions, such as first-rate restaurants, water features, and a spa center. The phased opening of the lavish casino and hotel complex is scheduled for this month.
