|Johnny Hon, the Chairman and Director for UK-based Asia-facing lottery provider BetEx Group, has announced his resignation in order to concentrate on other business commitments.|
Hon founded BetEx in January of 2005 and helped to take the company public on the London Stock Exchange’s Alternative Investment Market (AIM) last year.
“When the company was first founded, to many people Johnny Hon was BetEx,” said Jeremy Longley, Chief Executive for the London-based firm.
“He established the business as the premier western brand in the lottery sector in China, raised investment and was instrumental in taking the company onto AIM. The deals he personally brought to BetEx remain the foundations of the business today and give us considerable hope for the future. His input and vision at board level will be missed but we are delighted that he will continue to represent us as Honorary President.”
BetEx underwent a tough period last May when Chief Executive Officer Peter Greenhill and Finance Director Stuart Baker resigned following concerns that they could be arrested by authorities if they returned to China. This followed the arrest of three senior managers at one of the firm’s Beijing-based subsidiaries over their alleged involvement in 'gambling' and 'illegal operations'.
“Now the legal investigation in China is over and a new management team is firmly established, I feel that, although I am resigning with considerable sadness after over three years in charge, the time has come for me to concentrate on my role at Global Entertainment Group,” said Hon.
“I am comforted by the fact that, after a very difficult year, the future of the company is very bright. Both as original founder and still major shareholder, I remain committed to BetEx and will do all I can to promote its name and activities in the Peoples Republic of China. I am delighted to accept the position of Honorary President and the ambassadorial role it encompasses.”