UPDATE: Genting Singapore Marketing President Mabel Lee Left Company End-August - Sources

-- Genting Singapore's casino-marketing chief Mabel Lee left the group at the end of August, sources say

-- Ms. Lee's departure partly due to strategic differences with senior management, they say

(Adds details about Mabel Lee's salary in eighth paragraph.)

 
   By Chun Han Wong 
 

SINGAPORE--Genting Singapore PLC's (G13.SG) marketing chief Mabel Lee left the casino operator at the end of August, two people with knowledge of the move said Wednesday.

Ms. Lee quit as president of Genting Singapore's Resorts World Marketing Pte. Ltd. partly because of strategic differences with senior management, one of the people said.

The industry veteran, who has nearly three decades of casino-hospitality experience, had joined Genting Singapore in 2010 to help set up the casino marketing team at its flagship property, Resorts World Sentosa--one of the city-state's two licensed casinos. She had responsibility over growing the casino's premium-gambler business, among other roles.

A spokeswoman for Genting Singapore declined to comment.

Ms. Lee's departure comes as Genting Singapore's casino faces slumping business volumes that have contributed to some loss of market share to rival Marina Bay Sands, the Singapore casino resort run by U.S. gambling group Las Vegas Sands Corp. (LVS)

Last month, Genting Singapore reported 311 million Singapore dollars (about US$249 million) in second-quarter earnings before interest, tax, depreciation and amortization, down 10% from the same period a year ago and missing analysts' forecasts, partly due to lower premium-gambler volume.

The results were the latest in a series of earnings misses for the unit of Malaysian gambling group Genting Bhd. (3182.KU), reinforcing analysts' projections of slowing growth in Singapore's casino market.

Ms. Lee was one of Genting Singapore's highest paid executives, receiving between S$8 million and S$8.25 million in total remuneration in 2011, according to the company's annual report. Only Executive Chairman Lim Kok Thay earned more last year, taking home between S$9 million and S$9.25 million.

Ms. Lee joined Genting Singapore from Wynn Macau Ltd. (1128.HK), where she was an executive vice president. She previously served stints with U.S. casinos including Caesars Palace, Las Vegas Hilton and MGM Mirage.

Write to Chun Han Wong at [e-mail]

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