Genting Singapore says Lam will resign from his role on June 30.<\/p>\n\n\n\n\n\n\n\n
Singapore.- Genting Singapore <\/strong>has announced through a press release that Lam Yi Young <\/strong>is to step down from his role as deputy chief executive Officer at Resorts World Sentosa (RWS). The company said: “As mutually agreed with the board of directors of Resorts World at Sentosa, Lam will relinquish his role on June 30.”<\/p>\n\n\n\n The company added: “RWS remains committed to the momentum to strengthen its core leadership team, advance on its long-term growth strategies and build strong sustainable recovery.”<\/p>\n\n\n\n In a separate press release, Genting Singapore said Lam resigned \u201cto pursue other interests.”<\/strong> He had been appointed deputy chief executive officer\u00a0last October<\/a> when the company also announced the appointment of Andrew MacDonald<\/strong> as chief casino officer.<\/p>\n\n\n\n Lam had 11 years in senior public sector leadership <\/strong>and previously served as chief executive officer of the Singapore Business Federation. <\/p>\n\n\n\n Genting Singapore has recently published its financial results for the first quarter of 2023<\/a>. It\u2019s reported a 45 per cent rise in gaming revenue when compared to last year<\/a>. In quarter-on-quarter terms, the SG$339.9m (US$255m) total was down 8.6 per cent.<\/p>\n\n\n\n The company posted revenue of SG$484.5m (US$363m)<\/strong>, up 54 per cent year-on-year and down 10.7 per cent sequentially. Net profit after taxation was SG$129.2m (US$96.9m), up 220 per cent year-on-year and up 7.8 per cent from the previous quarter.<\/p>\n","protected":false},"excerpt":{"rendered":" Genting Singapore says Lam will resign from his role on June 30.<\/p>\n","protected":false},"author":176,"featured_media":25660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Singapore announced the resignation of Lam Yi Young, Deputy CEO of Resorts World Sentosa (RWS), effective June 30, citing mutual agreement and pursuit of other interests. This leadership transition occurs as the company reports robust Q1 2023 financial results, including a 45% year-on-year increase in gaming revenue and a 220% rise in net profit after taxation.","focusai_entities":"Genting Singapore, Lam Yi Young, Resorts World Sentosa, Andrew MacDonald, Singapore Business Federation","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"RWS Leadership Transition","query":"What are the anticipated strategic implications for Resorts World Sentosa's long-term growth strategies following Lam Yi Young's departure, particularly concerning the momentum to strengthen its core leadership team?"},{"label":"Q1 Financial Performance","query":"How do Genting Singapore's Q1 2023 gaming revenue and net profit after taxation, showing significant year-on-year growth but sequential declines in revenue, align with broader market trends in the APAC integrated resort sector?"}],"footnotes":""},"categories":[157,16333],"tags":[23687],"class_list":["post-777005909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777005909"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005909\/revisions"}],"predecessor-version":[{"id":777005935,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005909\/revisions\/777005935"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25660"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777005909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777005909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777005909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}