Macau-based casino operator Galaxy Entertainment Group Ltd announced on Tuesday that Ted Chan Ying Tat is to step down as the firm’s chief financial officer, with effect from October 27. The company stated that veteran casino executive Thomas Arasi (pictured in a file photo) will replace him.
Mr Chan will also leave Galaxy Entertainment, the firm said, adding that he had “decided to pursue personal interests”.
The release quoted Francis Lui Yiu Tung, chairman of Galaxy Entertainment, as saying: “Mr Arasi brings extensive expertise to the group, having over 35 years of corporate experience across multiple industries, including financial services, hospitality and, importantly, 16 years within integrated resorts.”
He added: “I am confident that under Tom’s leadership we will continue to have an exceptionally strong finance function to support the group’s business performance and strategic growth.”
Mr Arasi stepped down in December last year as president, chief operating officer, and a member of the board of Philippines-listed Bloomberry Resorts Corp. The company operates Solaire Resort & Casino in the Philippine capital, Manila, and in May 2024 opened Solaire Resort North, another gaming complex in Quezon City, northeast of Manila.
Mr Arasi joined Bloomberry Resorts as president and COO in 2013. Previously, he served as president and chief executive of Marina Bay Sands Pte Ltd, the promoter of Marina Bay Sands, one of Singapore’s two casino resorts.
Among other positions, Mr Arasi has also served as president and COO of Lodgian Inc, and as president of InterContinental Hotels Group Plc.
Mr Lui stated that Mr Arasi and Mr Chan would work together “to ensure a seamless handover, transition and leadership continuity”.
In his prepared remarks, Mr Lui also thanked the departing Mr Chan for “his efforts and contributions to the group over the past seven years”.
Mr Chan joined Galaxy Entertainment in 2018 as chief operating officer – Japan development – and led the firm’s exploration of the Japan market through to 2022, when the casino operator decided not to proceed with any bid for an integrated resort there. He was appointed Galaxy Entertainment’s chief financial officer in March 2023.
“During this period Ted has made valuable contributions to the group in his key leadership role of leading finance operations, corporate finance, and investor relations,” Mr Lui said in his prepared comments.
The company chairman added: “He played a key leadership role with the management team in consolidating the company’s position as the market leader in the industry.”
The release also carried prepared remarks from Mr Chan: “I am grateful for the opportunities, challenges and experiences in Galaxy Entertainment over the past seven years,” he said. “The journey has been both professionally rewarding and personally enriching.”
Mr Chan resigned from what was then Melco Crown Entertainment Ltd in November 2016, for what the firm said were “personal reasons”.
He had been appointed Melco Crown’s chief operating officer in February 2012. He joined the firm in November 2008, after having been recruited from a unit of the Amax brand, which had provided VIP gambling services to the Altira Macau casino resort in Taipa.
