Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ???

[Mdm Tang]

Bros , He Quitted Or Has Been Fired In Time For

Chinese New Year ???
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MBS CEO quits


by Ryan Huang Wenwu 05:55 AM Jan 29, 2011


SINGAPORE - Marina Bay Sands (MBS) chief executive officer Thomas Arasi has quit his job to "take a breather" and spend more time with his family.

Mr Arasi, who is in his early 50s, will resign with effect from Tuesday - some 18 months after he took up the role.

In an internal memo seen by MediaCorp, Mr Arasi said: "At this point, I have decided to pause, take a breather and spend more time with my daughter and other family."

He added: "Therefore, I will be resigning my position effective Feb 1, 2011. I will undertake my regular duties on site through Feb 18."

An MBS spokesperson confirmed Mr Arasi's departure when contacted by MediaCorp.

Quoting an unnamed person "with direct knowledge of the situation", Dow Jones Newswires reported that Mr Arasi had faced "a lot of pressure" with MBS' opening in April last year and from the Singapore Casino Regulatory Authority. The source added that Mr Arasi's lack of casino experience further complicated matters.

Dow Jones pointed out that his departure follows the sacking in July of Mr Steve Jacobs, chief executive of the Las Vegas Sands' (LVS) Hong Kong-listed subsidiary, Sands China, which runs casinos and resorts in Macau.

Mr Arasi was appointed the first president and CEO of MBS in August 2009.

In October last year, MBS reported net revenue of US$485.9 million ($622 million) in its first full quarter of operation. LVS chairman Sheldon Adelson said then that MBS' earnings before taxes, depreciation and amortisation was the best first quarter ever for any of Sands' resorts. Ryan Huang




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[Equalisation]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

dun play pray ah !! this sheldon terror hard task master type ....:o

 

[Mdm Tang]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

he kissed goodbye to his multi million $ job


for the CNY no MC thing ....


http://www.clubsnap.com/forums/showthread.php?p=6930388




$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

 

[Mdm Tang]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

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http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1107550/1/.html


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Singapore News

MBS CEO Tom Arasi to resign​

By Ryan Huang | Posted: 28 January 2011 1925 hrs


Photos 1 of 1

Tom Arasi



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Twitter Messenger

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SINGAPORE : Marina Bay Sands (MBS) chief executive officer Tom Arasi has quit.

Mr Arasi, who is in early 50s, will resign from his post effective February 1, for personal reasons.

A spokesperson with MBS confirmed this with MediaCorp.

In an internal memo seen by MediaCorp, Mr Arasi said: "At this point, I have decided to pause, take a breather and spend more time with my daughter and other family. Therefore, I will be resigning my position effective Feb 1, 2011. I will undertake my regular duties on site through Feb 18."

Mr Arasi became the first president and CEO of MBS in August 2009.

His resignation came amid negative headlines early this week over the firm's initial harsh stance to penalise casino dealers if they took medical leave over the Lunar New Year holidays.

MBS had planned to penalise such cases by giving demerit points to staff, but reversed its decision a few days later.

Marina Bay Sands, the Singapore casino resort of Las Vegas Sands Corp. (LVS), opened its doors to the public in April last year.

Prior to joining MBS, Mr Arasi led three international businesses for Bass Hotels and Resorts which does business as InterContinental Hotels.

This included serving as global brand manager of Crowne Plaza Hotels and Resorts and as president of the group's Americas division.

Mr Arasi was also involved in real estate development, where he was president of Portman Holdings, a multi-billion dollar real estate developer with properties in North America, China, India and Korea.

He was also president of Tishman Hotel Corp, which owns and manages large resort and convention assets.

Mr Arasi has a Bachelor of Arts in hotel and restaurant management from Cornell University.

- CNA /ls






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[Mdm Tang]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

he underestimated the power of those dealers ...

 

[Loofydralb]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

My guess is that he resigned due to frustrations with the local management.

These local incompetent managers advised him wrongly far too many times and he had to take the rap.

If the next CEO was smart, he should fire these managers and replace them with truly world class ones, else he will end up in the same boat.

 

[mako65]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

Highly-paid jobs always come with highly-pressurized tasks to be fulfilled! No matter how smart the Chief is, there's always a lapse of 1or2 "honest" mistake/s! Tis Arasi is no tai-ji master so he lays his arms n surrender unlike some ministers of ours, highly-paid but doing half-fucked jobs(issues like MSK, $8 by-pass n old folks' home in JB, wanton spending on YOG, de half-fucked explaination of the orchard rd flooding etc)....real jokers gg through the motion, every mth hot$$$$$ into thy pockets...real fucktards!

 

[Varuna]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

In October last year, MBS reported net revenue of US$485.9 million ($622 million) in its first full quarter of operation. LVS chairman Sheldon Adelson said then that MBS' earnings before taxes, depreciation and amortisation was the best first quarter ever for any of Sands' resorts. Ryan Huang

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Refer to another article in AsiaOne here ... http://news.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20110129-260994.html

It says , "Marina Bay Sands, built at a cost of $5.5 billion, opened its doors last April. It $242 million in earnings before interest, tax, depreciation and amortisation for the quarter ended Sept 30, Las Vegas Sands said on Oct 27".

I suspect earning has dropped. And coupled with the recent negative publicity from its poor HR policy in penalising dealers who take MC during Chinese New Year period, this guy has must have kena left right from the top until Buay Tahan. Good luck to the next one taking this hot seat.

 

[Yip Hon]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

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.the truth for his departure is somewhere out there ...


but the underlying truth is that the casino is basically a

gambling den and not living up the mark and expectation

of a world class outfit ...


those who have travelled aboard will agree ...


couple with 3rd world mgt styles ...

 

[GoldenDragon]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

My guess is that he resigned due to frustrations with the local management.

I was told he was having problems dealing with the regulators - CRA and MHA, a fatal combination. Problem was there since opening. Both sides did not see eye-to-eye on critical matters. Nothing to do with recent MC fiasco.

 

[Yip Hon]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

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Mr Arasi has a Bachelor of Arts in hotel and restaurant management from Cornell University.




cornell uni certainly did not teach him to use the


mc stick ....

 

[hairylee]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

I was told he was having problems dealing with the regulators - CRA and MHA, a fatal combination. Problem was there since opening. Both sides did not see eye-to-eye on critical matters. Nothing to do with recent MC fiasco.

Looks like he had offended the MIWs dogs.

 

[scroobal]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

Gentings is the one with real issues with local authorities and CRA. They have always pushed the envelope with their attempt to sell part stake to Stanley Ho, running free buses to fiddling with their CCTV cameras.

MBS has been a model with regulators having an extensive experiences with regulators in Vegas upon which Raja and CRA have modeled or copied their model.

The issues appears to be the revenue pie. Casino is contributing about 75% of earnings before tax while the intention is non casino revenue should be 50% which is not happening. He was brought in specifically to develop this part. Adelson knows that this will eventually become an issue with cabinet and Tourism board and wants to address it quickly. It should be an Integrated Resort as outlined by George Yeo and the specs. The covention business fell away after the debacle with the legal fraternity. Sands in Vegas is close to 50 to 50. Gentings however has Universal to provide balance.

In essence they are looking for someone to develop the non-casino aspect.

I was told he was having problems dealing with the regulators - CRA and MHA, a fatal combination. Problem was there since opening. Both sides did not see eye-to-eye on critical matters. Nothing to do with recent MC fiasco.

 

[Watchman]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

Looks like he had offended the MIWs dogs.

Per quarter 600 million cannot pay dealers $6000?

 

[minibond]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

I think got caught doing something scandalous and iLEEgal - and being covered up. Like money laundering. Replaced without criminal proceeding. Usual PAP style.

 

[myfoot123]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

Between wealth and happiness, he did make the right choice. I am sure the pressure of running such huge resort is understandable, not to mention his master is NOT an easy billionaires.

 

[BCR101]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

@

Business Times - 29 Jan 2011


Marina Bay Sands CEO calls it quits



Barely 18 months in the job, he says he has decided to take a breather and spend more time with his family

(Singapore)



THOMAS Arasi, the chief executive of Marina Bay Sands (MBS), has resigned and will leave on Feb 18.

Reuters said an MBS spokeswoman confirmed Mr Arasi's resignation but declined to elaborate. Mr Arasi has been in his job barely 18 months.

'At this point, I have decided to pause, take a breather and spend more time with my daughter and other family. Therefore, I will be resigning my position effective Feb 1, 2011. I will undertake my regular duties on site through Feb 18,' he said in the internal e-mail seen by Dow Jones Newswires.

MBS, the Singapore integrated resort of US gaming group Las Vegas Sands, was built at a cost of US$5.5 billion and opened its doors last April. It posted US$242 million in earnings before interest, tax, depreciation and amortisation for its first full quarter ended Sept 30.

The Singapore integrated resort has been in the news lately. Last week, allegations of unlicensed junket activity surfaced in court documents filed by a highroller being sued in the High Court by MBS over a $250,000 gaming debt, The Business Times reported.


In his affidavit, Lester Ong Boon Lin alleged that he had owed money to junkets that he assumed were operating legally at MBS at the time he accepted the casino's credit line.

The way the alleged junkets operated at MBS was similar to legal junkets he had seen operating in overseas casinos, according to Mr Ong.

A spokesman for Singapore's Casino Regulatory Authority noted that it was inappropriate for it to comment on the case as the matter was before the courts, the BT report said.



Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.

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[Leckmichamarsch]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

Why wud anyone quit after a successful startup?
Mafia chairman must have fired his CEO

 

[Leckmichamarsch]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

My guess is that he resigned due to frustrations with the local management.

These local incompetent managers advised him wrongly far too many times and he had to take the rap.

If the next CEO was smart, he should fire these managers and replace them with truly world class ones, else he will end up in the same boat.

A CEO gets advice from many sources but it is his job to make good decisions from them. Datz what he is also being paid for - so dun pass the buck.

Fiasco like demerit point for sick croupier is common sense even in Las Vegas. If he can't bulldoze thru Sin City what makes him think he can in Sing City? Chey....... he was boozing and screwing too much leaving critical decisions to his FB....

 

[BCR101]

Re: Marina Bay Sands (MBS) Chief Executive Thomas Arasi Has Quit Or Has Been Fired ??

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from newspapers pic of Tom , he doesnt look like a drinker.

maybe chongster yes .


more likely he offended Lester Ong Boon Lin . mbs

should have given ong time to repay since they have

done credit checks on ong .