Gaming tycoon Davin Chow Kam Fai has resigned from the board of Macau Legend Development Ltd, a firm he co-founded in 2006.
According to a filing, Macau Legend said that former lawmaker Chow had retired as a co-chairman of the board and a non-executive director.
“He has also ceased to be a member of both the remuneration committee and the nomination committee of the board,” the statement added.
Li Chu Kwan, chairman and executive director of the firm remarked, “he wishes to focus on his other commitments and did not offer himself for re-election at the AGM upon retirement by rotation in accordance with the articles of association of the company.”
Chow’s wife, Melinda Chan, remains chief executive of Macau Legend.
The appointment of Chan in March came a month after junket mogul Levo Chan, a major shareholder and co-chairman of Macau Legend, was arrested on suspicion of operating illegal online gambling and side-betting activities.
Earlier this year, Chow blasted the government’s diversification strategy and the proposed changes to the current gaming sector regulations.
“The gaming industry in Macau is important. […] Concentrate on the old industries and make them grow. It is the only way to survive in the next five years,” he previously said in an interview. LV
