Imperial Pacific International Holdings has announced that it has extended the contract of Saipan Project Director Ji Xiaobo for another three years until the end of 2020.
Ji, who came in at number 29 on Inside Asian Gaming’s 2017 Asian Gaming Power 50 list released last week, is the son of Ms Cui Li Jie, the sole owner of IPI’s controlling shareholder Inventive Star Limited.
Under the terms of the new deal, he will be paid an annual salary of US$1 million with the possibility of an annual discretionary bonus capped at US$2 million per year.
His duties as Saipan Project Director are listed as reporting to the board; providing advice on matters such as design, layout, quality control, contracting and subcontracting management, pricing and operational efficiency and profitability; negotiating and resolving business issues; managing the group’s relationships with contractors, subcontractors, consultants, suppliers, business partners and other third parties and introducing potential investment projects or customers and investors to the group.
IPI held the soft opening of its Imperial Pacific Resort in Saipan in July, with the casino currently operating 30 VIP gaming tables, 46 mass tables and 184 electronic gaming machines.
In a filing to the Hong Kong Stock Exchange, IPI said that Mr Ji is “actively involved in private equity investments and is experienced in identifying companies with emulous growth potentials, in particular those of the property industry and gaming industry.
“He also has unique insight and knowledge of these industries and comprehensive relationships with customers and business partners.”