{"id":777021568,"date":"2024-12-17T09:36:29","date_gmt":"2024-12-17T12:36:29","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777021568"},"modified":"2026-04-22T03:13:00","modified_gmt":"2026-04-22T06:13:00","slug":"thomas-arasi-steps-down-as-bloomberry-president-and-coo","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/thomas-arasi-steps-down-as-bloomberry-president-and-coo","title":{"rendered":"Thomas Arasi steps down as Bloomberry president and COO"},"content":{"rendered":"\n

Bloomberry said Arasi was stepping down for personal reasons.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Bloomberry Resorts has announced through a company filing that Thomas Arasi has stepped down as president, chief operating officer (COO) and as a member of the board of directors. The company said his resignation was for personal reasons. It has not yet announced a replacement.<\/p>\n\n\n\n

Arasi became president and COO of Bloomberry Resorts in 2013. Before that, he was president and CEO of Marina Bay Sands in Singapore. Arasi also worked as president and COO at Lodgian and as president of InterContinental Hotels Group.<\/p>\n\n\n\n

In October, Arasi increased his shareholding<\/a> under the company\u2019s Stock Incentive Plan. He indirectly controlled another 21.9m in the company, according to a filing at the time.<\/p>\n\n\n\n

Bloomberry Resorts posts net loss of US$8m for Q3<\/h2>\n\n\n\n

For the third quarter of the year, Bloomberry reported a net loss of PHP470.2m (US$8m), compared with a PHP1.95bn profit a year earlier and a profit of PHP1.3bn (US$23.4m) in the second quarter of the year.<\/p>\n\n\n\n

The net loss was a result of lower EBITDA and higher depreciation and amortisation and interest expense associated with Solaire North. Consolidated EBITDA was PHP4.06bn (US$69m), down 3.44 per cent when compared to the third quarter of 2023 but up 11.5 per cent sequentially.<\/p>\n\n\n\n

Gross gaming revenue (GGR) was PHP16.3bn (US$278m), up 22 per cent year-on-year, driven by Solaire Resort North\u2019s first full quarter of operations. Non-gaming revenue was PHP2.7bn (US$45.9m), an increase of 22 per cent in year-on-year terms. Net revenue was PHP13.67bn (US$232.5m), down 27.2 per cent year-on-year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bloomberry said Arasi was stepping down for personal reasons.<\/p>\n","protected":false},"author":176,"featured_media":29713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Thomas Arasi has resigned as President, COO, and board member of Bloomberry Resorts for personal reasons, with no successor yet announced. Concurrently, Bloomberry reported a Q3 net loss of US$8m, contrasting with a prior-year profit, despite a 22% year-on-year GGR increase to US$278m, primarily driven by Solaire Resort North's initial full quarter of operations. The net loss was attributed to lower EBITDA and increased depreciation, amortisation, and interest expenses associated with the new Solaire North property.","focusai_entities":"Bloomberry Resorts, Thomas Arasi, Marina Bay Sands, Lodgian, InterContinental Hotels Group, Solaire North, Solaire Resort North","focusai_location":"Philippines, Singapore","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Leadership Transition Impact","query":"What is Bloomberry Resorts' strategic plan for executive succession, and how will the departure of a seasoned COO impact the operational ramp-up and financial performance targets for Solaire North?"},{"label":"Solaire North Profitability Outlook","query":"Despite robust GGR growth from Solaire North, what specific operational efficiencies and revenue diversification strategies will Bloomberry implement to mitigate depreciation and interest expenses and achieve net profitability for the new asset?"}],"footnotes":""},"categories":[157,16333],"tags":[15417],"class_list":["post-777021568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-bloomberry-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021568","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=777021568"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021568\/revisions"}],"predecessor-version":[{"id":777021583,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021568\/revisions\/777021583"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/29713"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777021568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777021568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777021568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}