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Neptune Group CFO steps down

Hong Kong-listed Neptune Group has announced the resignation of Stephen Chan Shiu Kwong as an executive director, chief financial officer, company secretary and authorized representative, effective January 31, 2017.

The firm, which operates a number of VIP gaming room businesses in Macau also announced that Lam Yick Man has been named as the new company secretary, financial controller and authorized representative.

According to the company, Lam has over 10 years of extensive professional experience in the fields of accounting, finance and auditing. Prior to joining our Group, he worked for international accounting firms and other listed companies in Hong Kong.

“The Board would like to express its appreciation for Mr. Chan’s contribution to the Company during his tenure of service and welcome Mr. Lam for his new appointment,” said Neptune in its filing.

Last year, Neptune Group Ltd. posted an audited net loss of HK$466.7 million (US$60.1 million) for the fiscal year ended June 30.

The company said its gaming revenue fell 41.2 percent to approximately HK$278.7 million for the fiscal year.

The junket operator currently has 14 tables at The Venetian, 10 tables in Sands Macao, 13 tables at Galaxy Macau, 8 tables at Grand Lisboa and 10 tables at the City of Dreams, totalling 55, down by 7 compared to the last fiscal year.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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