Solaire hires ex-Marina Bay Sands chief as president, COO
MANILA, Philippines - Enrique Razon's Bloomberry Resorts Corp. has named a former Marina Bay Sands chief as the new president and chief operating officer of Solaire Casino & Resorts.
In a statement, Bloomberry said it appointed former Marina Bay Sands president and CEO Thomas Arasi as Solaire president and chief operating officer. He will assume office on October 11.
Arasi replaces Razon as president of Solaire. Razon will remain as chairman and chief executive officer of the casino resort.
As COO, Arasi replaces Michael French, who was fired by Bloomberry last month. French was the representative of Global Gaming Philippines LLC (GGM), who was also fired as manager of Solaire.
"We are pleased to welcome Thomas Arasi to Solaire. We believe his credentials and experience will be key to achieving our expectations for Solaire," Razon said.
As Marina Bay Sands president and CEO, Arasi was said to be "instrumental in helping the Singapore casino development eventually achieve unprecedented profitability of circa $1.5 billion in annual run-rate EBITDA."
Bloomberry is hoping Arasi would be able to do the same for Solaire. The company said Arasi will lead the effort to help Solaire achieve profitability, as well as the casino resort's $500 million expansion, which will open by fourth quarter of 2014.
The $1-billion Solaire opened in mid-March to much fanfare, as it was the first casino to open at Pagcor's Entertainment City.
In the second quarter, Bloomberry said it posted a P22.7 million profit, on the back of Solaire's P3.59 billion revenues.