Thomas Arasi, New Bloomberry Resorts Corp. COO
MANILA, Philippines–Gaming firm Bloomberry Resorts Corp. has promptly filled the void in its top management team by bringing onboard the former president of Marina Bay Sands Pte. Ltd. as its new chief operating officer.
In a disclosure to the Philippine Stock Exchange on Tuesday, Bloomberry said Thomas Arasi – an American who is a veteran in the gaming and hospitality industry – would assume office on Oct. 11. The new executive will be responsible for leading the effort in ensuring the ramp-up of the operations and profitability of Solaire Resort & Casino. “We are pleased to welcome Thomas Arasi to Solaire. We believe his credentials and experience will be key to achieving our expectations for Solaire,” Bloomberry chair and president Enrique Razon Jr. said in a press statement.
While leading Marina Bay Sands, Arasi was credited with completing the development, opening and creation of this large and complex real estate project and was cited to be instrumental in helping Marina Bay Sands achieve an unprecedented profitability of $1.5 billion in annual cash flow.
Bloomberry is confident that Arasi’s expertise would be put to good use when Solaire embarks on its $500-million expansion program by the fourth quarter of next year.
Last month, Bloomberry scrapped its management services agreement with Global Gaming Philippines LLC (GGAM), the Las Vegas-based management firm contracted to nurture and operate the gaming property, citing “breach” of their management services agreement (MSA). At present, it is locked in a bitter dispute with the Las Vegas-based management firm it contracted to run Solaire Resort & Casino. GGAM fought back by initiating arbitration proceedings, claiming that it was Bloomberry that was guilty of a breach of the MSA.