One of Nagakov's late founder Chen Lip Keong's three sons was named chief executive in April 2022, ending his employment at Casino Group on Thursday, it said in a filing to the Hong Kong Stock Exchange after trading hours.
Chen Cherchi's resignation as CEO of the finance and finance division was accompanied by "possibility of disagreement" between the outgoing executive and the company surrounding the termination of his contract, according to the filing.
NagCorp has the exclusive rights to long-term casinos in Phnom Penh, the capital of Cambodia, and operates the Nagaworld complex (pictured).
The filing stated: "Aside from what may be a disagreement at the board over the termination of his employment, [Chen] Cherchi has no other disagreement with the board and no other matter that needs to attract the attention of the company's shareholders."
The outgoing executive "will no longer hold any positions with the company or its subsidiaries," the filing added.
The company said the move "will not have a significant impact on the group's operations."
Additionally, Nagakov added, "We will continue to operate the group's business in compliance with the business strategy set by the board."
"The senior management said they would work together as a team to lead and manage the group, leading the group to a "next level of success."
The outgoing executive's father, Chen Lip Kung, died in December last year. Prior to his death, there was a succession plan for his three sons to be appointed to the co - CEO position of nagakov. 안전한 카지노사이트
Nagakov's casino gross gaming revenue rose 23.7% year-over-year to close to $145.4 million in the first quarter, according to a non-statutory filing with the Hong Kong Stock Exchange in early April.
In February, Nagakov said it planned to save $700 million in the podium budget for Nagarwold's expansion project, Nagarwold.