Suncity Group Chief Investment Officer (CIO) Andrew Lo Kai Bong has taken a position on the board of Summit Ascent Holdings, an investor of the Tigre de Cristal casino resort in the Russian Far East. Lo joins the board as a non-executive director and won’t receive a salary and will continue to serve as the CIO for the privately-held Macau junket operator.

While not entitled to a salary with Summit, Lo will receive reimbursement for out-of-pocket expenses. Lo will also continue as an executive director for Suncity Group Holdings, which is controlled by Alvin Chau Cheok Wa, the founder of the Suncity brand. Suncity is involved in a range of casino projects in Macau, Cambodia and Vietnam.

The appointment to the Summit board was effective as of December 12 and will be valid for three years, terminating on December 11, 2021. His contract may be extended for three-year periods in accordance with the rules of the Hong Kong bourse.

Tigre de Cristal is being built near Vladivostok on Russia’s Pacific coast. It is billed as a casino that is within reach of a large number of North Asian gamblers and Lo’s involvement comes due to his expertise in “corporate management, mergers and acquisitions” and experience in the gaming industry.