Alliance Global Group (AGI) CEO and AGI subsidiary Travellers International Hotel Group Inc (TIHGI) Chairman Kevin Tan has told Inside Asian Gaming that avoiding any potential conflict of interest arising from former Travellers Chairman David Chua’s role as President of Manila casino developer Suntrust Resort Holdings was one of his reasons for choosing to remove Chua from the Travellers Board of Directors.
The clarification follows a report by local media outlet Bilyanaro on Thursday that Chua had been removed from the Travellers board as part of Tan’s “purge” of executives previously linked with Genting Hong Kong – the company’s former partner in Travellers, which owns and operates Manila IR Newport World Resorts.
Speaking exclusively to IAG, Tan said Chua’s own history with Genting Hong Kong made his exit a natural progression when AGI bought out Genting’s stake in Travellers last year, and also pointed to the company’s lease deal with Suntrust – which is developing a US$1.1 billion hotel and casino in Travellers’ Westside City precinct – as a key factor.
“The truth is that I first I replaced David as the Chairman [of Travellers] in 2022 and he moved to the board level [when AGI bought out Genting Hong Kong’s stake in Travellers], but then when the transition [of Genting Hong Kong’s stake to AGI] was finalized, he was really part of the old regime, the old partnership, so we really felt we had to ask him to resign from the board,” Tan said.
“It was also because we felt it was quite a conflict of interest given that he became the president subsequently of [Suntrust parent] LET Group, who of course is on a sort of a lease arrangement with us for the Westside project.
“So it was a combination of reasons that led to letting him go as a board member.”
Chua, a former COO of Malaysia’s Genting Berhad, was named Executive Director and CEO of Summit Ascent Holdings – a subsidiary of LET Group and significant shareholder in Suntrust – in March 2021 before being appointed to the Suntrust board two months later.
Suntrust is expected to open its Manila hotel and casino project in early 2025.
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