ISRAEL – Leisure International Ltd., the emerging markets entertainment center and casino developer and operator (the “Company” or “QLI”), today announces the following changes in its management and board of directors:
- Mr. Yariv Lerner was appointed as Chief Executive Officer of the Company effective as of 1 September 2013. Mr. Lerner shall replace Mr. Yigal Zilkha,who has served as a temporary chief executive officer of the Company since 14 May 2013.
- In addition, Mr. Lerner was appointed as a director of the Company effective immediately.
- Mr. Yigal Zilkha, who shall cease acting as Chief Executive Officer on 31 August 2013, was appointed as the Company’s Chairman of the Board effective as of 1 September 2013.
About Yigal Zilkha.
Mr. Zilkha, 50, is a director of the Company and is in charge of its business development. He is the major shareholder of Y.Z., which currently holds, directly and indirectly, approximately 37.25% of the Company’s issued share capital. Mr. Zilkha also holds, through a company under his control, an additional 5.15% of the Company’s issued share capital. Mr. Zilkha has been involved in the gaming industry for over twenty years as a promoter and operator of casinos. In addition to his services as Chairman of the Board, he shall remain in charge of the Company’s business development.
About Yariv Lerner.
Mr. Lerner, 41, is the beneficial owner of A.S.Y.V Hotels Ltd.,who has recently purchased from Y.Z. shares of the Company constituting 33.5%of the issued share capital of the Company. During the past 10 years, Mr.Lerner has been engaged in various creative transactions, while gainingcomprehensive managerial experience, including in the framework of corporaterecovery. Mr. Lerner currently serves as the chairman of the board of directorsof Natali Medical Services Ltd. and as a director in various corporations. Mr.Lerner is an attorney with an LL.B from Haifa University.
About Queenco Leisure International
Queenco Leisure International Ltd (the “Company” and “QLI”) is an emerging market land- based entertainment centers and casino developer and owner. QLI is characterized by its unique ability to develop and initiate top quality entertainment, leisure and land based casino products by maximizing business opportunities and identifying attractive territories and market segments.
QLI is active in Greece, Romania, The Czech Republic and Serbia. The company operates four casinos and two hotels with total number of 160 gaming tables, 1,650 slots machines and over 300 hotels rooms and suites. The yearly number of visitors in the company’s sites exceeds 1.7 million visitors. The company’s operations by geographical segment:
- Greece – two casinos and hotels: one in Loutraki (“Casino Loutraki”) and one on the island of Rhodes (“Casino Rodos”)
- Romania – one casino in Bucharest (“Casino Palace”)
- Serbia – one casino in Belgrade (“Casino Beograd”)
- Czech Republic – an entertainment center in Prague, which includes a nightclub and an Asian restaurant (“SaSaZu”)
QLI is listed in the London Stock Exchange since 2007. The major shareholder is Mr. Yigal Zilkha who holds directly 9.1% of the company’s shares and holds controlling shares in Y.Z. Queenco Ltd., a Tel-Aviv Stock Exchange-listed company and the parent company of QLI. Y.Z. Queenco holds 63.7% in QLI.
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