On Monday, a press release was issued by Asian Coast Development Ltd in regards to changes within their board of directors. The developer and owner of the Grand Ho Tram casino resort located in Vietnam has reshuffled members of the board with two members stepping down from their positions.
Bill Thompson and Byron Sproule were members of the board for Asian Coast Development who recently stepped down from their positions to pursue other efforts. This left two positions open within the board. Tony Podesta and Loretta Pickus have now been hired as new members of the board of directors.
Podesta is a lobbyist from the United States who is reportedly a long-time friend and advocate for Vietnam’s government. Pickus is a former Vice President for Trump Entertainment Resorts and has a 25 year career holding executive positions within several industries including legal affairs, strategic planning, and hospitality.
After the changing of positions within the board, Michael Kelly is the executive chairman as well as chief executive. Kelly was named an executive to hold the position of development company boss as well as leader of the project company, known as Ho Tram Project Company Ltd as a combined position.
The press release included additional information on the Grand Ho Tram including the fact that more than $1 billion in deployed and committed capital exists from Harbinger Capital Partners LLC, a New York based hedge fund group that has invested in the venue.