Craig Ballantyne, chief operating officer of Summit Ascent Holdings Ltd., has resigned to accept a position with Melco International Development Ltd. Summit Ascent Holdings runs the Tigre de Cristal casino resort in Russia’s Primorye economic zone. Both companies are owned by Lawrence Ho.
Ballantyne will hand over his current duties and responsibilities to interim COO Stylianos Tsifetakis. Ho owns both companies. Ballantyne’s role at Melco International has not yet been identified.
Summit Ascent, lead developer of the Tigre de Cristal casino resort in the Russian Far East, posted a loss of HKD5.4 million for the first half of 2017, compared to a profit of approximately HKD5.5 million in the prior-year period.