Summit Ascent Holdings appoints industry veteran Chang Heng Kit as Non-Executive Director?

Jade Denosta July 16, 2024

Share it :

Summit Ascent Holdings appoints industry veteran Chang Heng Kit as Non-Executive Director?

Summit Ascent Holdings Limited has reinforced its board by appointing Chang Heng Kit as a non-executive director, effective 10 July.

Mr. Chang brings over 13 years of experience in the gaming industry, which he has obtained from his previous roles across various Asian companies. He was the General Manager of a travel agency in Vietnam and served as the Director of Guest Services and Relations Development for a leading gaming promoter in Macau from 2011 to 2021. His extensive background and expertise in the gaming sector will be invaluable as Summit Ascent navigates its current challenges.

As Summit Ascent welcomes Mr. Chang to its board, the company plans to utilise his industry expertise to contribute to its strategic direction. Mr. Chang’s deep understanding of gaming operations and regulatory environments in Asia is expected to be invaluable as Summit Ascent charts its course through these turbulent times. His appointment is part of a broader strategy to strengthen the board with seasoned professionals capable of guiding the company through its next development phase.

Investment in the Philippines casino industry

LET Group Holdings Ltd., the parent company of Summit Ascent Holdings, has further solidified its position in the Philippine gaming industry with a substantial $17 million (€15.5 million) loan to one of its subsidiaries, Suntrust Resort Holdings Inc. This latest financial injection will fuel the development of the highly anticipated Westside City Hotel, a $1 billion (€917.7 million) integrated resort project set to open its doors in Para?aque City by the first quarter of 2025.

The decision to provide additional funding shows LET Group’s unwavering confidence in the Philippine gaming market and its belief in the long-term potential of the Westside City project. With this new capital, Suntrust can accelerate construction and bring the integrated resort to completion. This will no doubt further enhance Manila’s Entertainment City.

The Westside City Hotel is expected to become a major tourist attraction and gaming destination, contributing significantly to the Philippine economy and generating employment opportunities for the locals.

Stay in the loop with the latest updates and news for the upcoming SiGMA East Europe Summit powered by Soft2Bet. The summit will take place in Budapest from 2-4 September.