The President, Director and Chief Operating Officer of Bloomberry Resorts Corporation, Thomas Arasi, is retiring from his positions with the company, effective from Tuesday.
According to a company disclosure, Arasi’s ‘retirement is for personal reasons’.
Arasi will also be retiring from his position as a member of the board of directors of Bloomberry and its subsidiary Bloomberry Resorts and Hotels Inc (BRHI) ‘and from all positions in other subsidiaries’.
The firm has not yet announced a replacement for Arasi.
The retirement announced comes suddenly, after Arasi in late October increased his shareholdings in the company’s stock, as part of its incentive plan, by some $1.2 million.
Arasi joined Bloomberry in 2013, when Solaire first opened.
He had previously served as President and Chief Executive Officer for Marina Bay Sands before his move to Bloomberry.
Arasi was one of the main keynote speakers at the 2024 ASEAN Gaming Summit, sharing his vision for Solaire and its latest new property Solaire North.
Bloomberry recently saw the first full quarter of revenue contributions from Solaire North to its 3Q24 earnings, despite registering an overall loss for the period of PHP470 million ($8.01 million).
