AUS entrepreneur appointed by Silver Heritage as non-exec. chairman

After a week saw the next senior executive resignation at  Silver Heritage Group Limited (SVH:ASE), the Asian casino operator has now announced it has appointed  Australian business mogul, James Spenceley (pictured), as its new non-executive chairman and manager.

Earlier in the month, David Green abruptly resigned as the organization ’s Chairman and non-executive manager, replaced on an interim basis by separate manager, Matthew Hunter. But last week that the firm accountable for its Tiger Palace Resort Bhairahawa integrated casino hotel in Nepal declared that Richard Barker stepped at a similar sudden manner as a non-executive manager.

Inside Asian Gaming reports that Silver Heritage team Limited in a Tuesday submitting to the Australian Securities Exchange explained that Spenceley, the creator of Vocus Communications, the fourth largest telecommunications firm in Australia and current Chairman for Airtasker, a Sydney-based online job sharing platform, will even allegedly seat the organization ’s People and Culture Committee while Hunter will Chair the Audit and Risk Committee.

The company which manages and operates casinos in Nepal and Vietnam, also allegedly revealed that Hunter, Spenceley and Robert Benussi, its three separate executive directors, have moreover agreed through the entire year ’s end they will waive 50% of their fees in a move that will save the business AU$375,000, according to Inside Asia Gaming. In the end of 2018, the agreement will allegedly be reassessed.

Managing Director and CEO for Silver Heritage Group Limited, Mike Bolsover, said that Spenceley is a “great addition” to its board and after several visits to both Nepal and also to Tiger Palace since its opening this past year, “hits the ground running. ” Bolsover additional, “The non-executive Directors’ agreement to subtract 50% of their charges and the decrease from four to 3 Australian-based board members means we’re now compact and cost-effective as we enter a new period of expansion,” as reported by the news outlet.

According to Inside Asian Gaming citing a meeting with the Australian Financial Review following a recent visit to Tiger Palace Resort, Spenceley, who is a current investor and no stranger to the Hong Kong-headquartered firm, said, “They’re basically attempting to create a Macau for India. Now Indians like to gamble, gambling is illegal in India, the only place you may gamble is in Goa which is away from all the people and it’s on riverboats, which you’ve got to get to on ‘tinnies’ therefore it’s pretty dreadful.

Established in 2003, Silver Heritage Group Limited additionally operates The Millionaire’s Club and Casino inside Kathmandu’s Shangri La Hotel and Resort as well as the Phoenix International Club close Hanoi.