Genting Singapore Ltd says Lam Yi Young has resigned from his role as deputy chief executive of Resorts World at Sentosa Pte Ltd. The latter firm is an indirect wholly owned subsidiary of Genting Singapore, and the operator of the Resorts World Sentosa casino complex (pictured) in Singapore.
“As mutually agreed with the board of directors of Resorts World at Sentosa, Mr Lam will relinquish his role on June 30,” Genting Singapore said in a press release on Friday.
The release added: “Resorts World at Sentosa remains committed to the momentum to strengthen its core leadership team, advance on its long-term growth strategies and build strong sustainable recovery.”
In a separate filing to the Singapore Exchange, Genting Singapore said Mr Lam had resigned “to pursue other interests”.
The executive, aged 50 and a prominent figure in Singapore’s business sector, had taken over the post of deputy CEO in January.
He is a former CEO of the Singapore Business Federation, having served in that position from 2020 to 2022. Mr Lam was previously a deputy secretary at the city-state’s Ministry of Trade and Industry, and deputy secretary at the Ministry of Education.
He also served as CEO at the Maritime and Port Authority of Singapore.
Genting Singapore reported net profit after taxation of just above SGD129.2 million (US$96.1 million) for the first quarter of 2023, a nearly 220.0-percent increase from the prior-year period. The result was up 7.8 percent from the preceding quarter, according to highlights of first-quarter performance published last month by the firm.
The company is a subsidiary of Malaysian conglomerate Genting Bhd.
Resorts World Sentosa is one of Singapore’s two casino resorts. The other is the Marina Bay Sands property, run by a unit of U.S.-based Las Vegas Sands Corp.
