Commonwealth Casino Commission Executive Director Edward Deleon Guerrero has revealed that Mark Brown has resigned as CEO of Imperial Pacific International (IPI), effective December 8.
Brown’s resignation followed only days after Phillip J. Tydingco, the high-powered lawyer who has been representing Imperial Pacific International (IPI) in a number of legal cases, announced that he was leaving the company, though it is unclear if the two resignations are linked in some way.
According to Marianas Variety, IPI has been undergoing a “reorganization” in which it was revealed that Brown’s authority as CEO did not include critical matters such as construction and financial management.
This was Brown’s second stint as IPI CEO, a position that has become something of a revolving door.
IPI has been plagued with a series of legal, regulatory, financial, and staffing difficulties.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.