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.
ORIGINAL SOURCE
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