In a filing to the Australian Securities Exchange (ASX) on Friday, Silver Heritage Group Ltd, which operates and manages casinos and gaming assets in Vietnam, Nepal, Cambodia, and Laos, accepted the resignation of the firm’s executive director for special projects.
Effective Thursday, Hugh Holmes has reportedly “ceased involvement in the development of the company’s $40 million Nepal resort project, Tiger Palace Resort Bhairahawa,” according to the ASX Announcement (pdf).
The resignation comes on the heels of the Hong Kong-based firm being granted a temporary suspension of its stock trading by the ASX on February 27, after announcing earlier in the month that the opening of its new 26,597 square foot Nepal casino had encountered “temporary unexpected delays”. An earlier expected launch date of October also passed. The delay could result in a later completion date and affect the final project cost.
The ASX filing said that casino industry veteran, Adam Titus, who assumed the role of Project Director, would head a “dedicated project management team” responsible for the execution of the final stage of completion of the resort, which is located 15 minutes by automobile from the airport at Bhairahawa, Nepal. Titus will, according to the filing, report to the firm’s managing director and chief executive, Mike Bolsover, as well as the company board.
The announcement by the stock exchange stated that Titus had upwards of 30 years’ worth of experience in the “design, development, and construction, and opening of more than 10 gaming and hotel developments in Asia and globally, most recently working with MGM Macau and Okada Resorts in Manila, Philippines.”
The regulatory announcement went on the state that Holmes had agreed to remain with the company during the transition period of Titus to the leadership role of the development project.
According to the filing, Titus would be supported in the “pre-opening planning and execution and the handover to operations,” by Enrico Dovadola, the resort manager. Silver Heritage said that Dovadola had been involved in “more than six casino resort openings in Asia Pacific, most recently with Galaxy Macau and MGM Macau.”
As reported earlier, in addition to some 200 slots and 52 table games, the Tiger Palace Resort would also feature six food and beverage outlets, a pool and spa service, as well as wedding, tennis and gym facilities, conference hall, meeting rooms, and shops.