Thomas Arasi, the President, Director, and Chief Operating Officer of Bloomberry Resorts Corporation, is stepping down from his roles, effective Tuesday.
As disclosed by the company, Arasi’s retirement is due to personal reasons. Along with his executive roles, he will also retire from his position on the board of directors of both Bloomberry and its subsidiary, Bloomberry Resorts and Hotels Inc. (BRHI), as well as from all other subsidiary positions.
The company has not yet named a successor for Arasi.
His decision to retire comes unexpectedly, especially after he significantly increased his holdings in the company’s stock by approximately $1.2 million as part of the incentive plan just two months ago.
Arasi joined Bloomberry in 2013, during the opening of Solaire. Prior to this, he was the President and CEO of Marina Bay Sands.
Arasi was also a key speaker at the 2024 ASEAN Gaming Summit, where he discussed his vision for Solaire and its newest property, Solaire North. Despite Bloomberry’s overall loss of PHP470 million ($8.01 million) in 3Q24, the company saw its first full quarter of revenue contributions from Solaire North.