Newly-appointed Success Dragon chair Tan Teng Hong quits post

Success Dragon International Holdings chairman and CEO Tan Teng Hong is stepping down from his post as the gaming service provider continues to seek a remedy for its financial bleeding.

In a disclosure to the Hong Kong Stock Exchange on Wednesday, Success Dragon announced that Tan will be leaving the company to focus his time and effort on other business. Tan’s departure came almost a month after he was appointed chairman and CEO of the gaming services firm.

Tan will be replaced by Kwan Chun Wai as the company’s newest chairman, executive director, and CEO effective July 3, 2018, according to the company.

Coincidentally, Kwan’s appointment as Chairman of Success Dragon came just days after the Hong Kong-listed firm announced that it would consider the use of blockchain in its gaming machines to recoup gaming revenues. Success Dragon is seeking to diversify its business segments after its gaming revenues sunk 25.7 percent to HKD112.4 million(US$14.3 million)in the fiscal year that ended March 2018.