Suncity Group tried to take part after the recent administrative and financial problems. They have picked a new person that ready to steer the junket operation.
Andrew Lo Kai Bong, a Suncity Group executive director. He is now in a position to determine where the company is headed.
Lo’s purchase of Suncity’s controlling shares also gives him a controlling stake in Summit Ascent. Fame Select held 69.66% of Summit Ascent prior to Lo’s acquisition.
Lo also has a significant role in the development of a Suncity project in the Philippines. In May of last year, he became a board member of Suntrust Resort Holdings, previously known as Suntrust Home Developers. The entity is building a casino in Manila’s Westside City Project, and Suncity owns 51% of the company.
Andrew and Alvin Chau obviously have a long-standing intimate relationship. This might ultimately prove to be an issue, especially since Lo may have some skeletons of his own in the closet.
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