On July 24, Rich Goldman Holdings Chairman of the Board Danny Huang announced that he would be stepping down from his position as chairman and Executive Director the Macau junket investor. Huang said he decided to step down so he could focus his time on unspecified family affairs.
Huang has had quite an impressive career. He served as the chairman at the Neptune Group for nearly four years. This came after serving just three months as a board member before being named the company’s chairman. When the Neptune Group formally changed its name to Rich Goldman Holdings, Ltd, Huang remained in his position. He earned a bachelor’s degree from Monash University.
Since October 2017, Huang had served as the chairman at Rich Goldman Holdings. The company was first founded in 1972 as gambling, lodging, and restaurant business, but has primarily focused on casinos and gambling in recent years.
While the tenure has been a memorable one, it has also seen some challenging times. In December 2017, the company announced that they had seen a 34% decline in profits during the final six months of the year. This coming after the company had undergone a serious contraction leaving it with revenue shares on just eight gaming tables at its VIP room at SJM Holdings’ Grand Lisboa casino.
Despite the setbacks, Huang and the rest of the board were not deterred. Rich Goldman continued to press forward, even opening a new VIP gambling operation at the Sands China’s Plaza Macao casino in February 2018. The move was surprising to many, especially considering they had announced a significant decline in profits just two months earlier.
However, this strategy was clearly designed to help turn the fortunes at Rich Goldman. It was recognized that gambling revenues fell as much as two thirds from the previous year (a loss of $6.1 million), a direct result of the contraction. It appears that at that time it was determined that the company’s fortunes were better served by getting back into the game, so to speak.
Huang remained as the chairman through it all, as the company never seemed to waver in their support.
To fill his position, Andy Lin Chuen Chow was appointed as the new chairman. He was also appointed as the Chairman of the Nomination Committee and will serve as co-Executive Director along with Ms So Wai Yin.
