Chinese casino mogul Lawrence Ho has reduced his stake in the company tasked to develop the Tigre de Cristal casino resort in the Russian Far East.

In a regulatory filing, Ho announced before the HongKong Stock Exchange last week that he is unloading 8.31 percent of his shares in HongKong-listed Summit Ascent Holdings Ltd. The move reduced his direct holding in Summit Ascent from 27.06 percent to 18.75 percent.

The shares that Ho sold was worth HKD166.7 million (US$21.3 million).

Ho didn’t offer any explanation on why he decided to cut his stake in Summit Ascent. Even his company declined to comment on the matter since the issue was about the casino mogul’s personal investment.