A reshuffle of executives at Iao Kun Group Holding Co Ltd. (IKGH) is under way as the Macau casino junket investor completes the acquisition of a Chinese technology company.
Lam Man Pou stepped down from his position as chairman and director of IKGH’s board of directors on Wednesday, but will remain and chief marketing officer of IKGH, effective immediately. Vong Hon Kun also resigned from his CEO and board director position, but will stay on with the company as its chief operating officer.
The changes to the management and the company board came following IKGH’s announcement that it has finalized the acquisition of 51 percent of software technology development company Jia-Heng Industrial Ltd, which is the holding company of Guangzhou LiNiu Network Technology Co. Ltd.
LiNiu Network is a software technology development company that is currently developing an electronic business-to-consumer trading platform focused on the Chinese agricultural industry, according to IKGH.