Macau casino operator Galaxy Entertainment Group Ltd said in a statement to GGRAsia that it was offering pit supervisors in its table games department a payment of MOP380,000 (US$47,500) if they wished to resign “voluntarily”. The company said the “one-off payment” would be settled together with the compensation for each volunteer’s last month of employment.
The firm had already introduced a voluntary exit scheme for pit managers in the table games department, added the statement, without mentioning when.
The communication, sent in response to GGRAsia’s enquiry, noted that the measure offered to pit managers had been “positively received”.
Galaxy Entertainment reported in February a loss of HKD3.97 billion (US$511.5 million) for full-year 2020, amid the disruption to tourism and travel to Macau wrought by the Covid-19 pandemic. The group had recorded a profit of HKD13.04 billion in 2019.
Two local gaming labour activist groups – the New Macau Gaming Staff Rights Association, and the Power of Macao Gaming – have recently expressed concerns about the implementation of voluntary exit measures offered to Galaxy Entertainment staff, and the compensation that might be involved.
The casino operator said in its Wednesday announcement that the offer to pit supervisors was under what it termed its “New Life Starter Program”.
The firm stated regarding those who chose to leave: “With regard to their employee benefits, including related insurance benefits and pension contributions, those will remain unchanged until their last employment date.”
Galaxy Entertainment said many of those that had already participated felt the programme had “helped them begin a new life and to achieve their personal goals”.
In the same statement, the company also mentioned opportunities for employees to stay with the group, but learn new skills.
The firm said: “As Covid-19 continues to impact businesses globally, Macau’s tourism and gaming industry is undergoing a structural change, thereby causing many of our team members to realise the need to pursue a more diversified development on a personal and professional level.”
Galaxy Entertainment noted it had “recently” launched a career diversification programme for its employees.
It noted: “Voluntary participants will have on-the-job training across different departments so that they can further develop their professional skills and knowledge, improve their workplace flexibility and competitiveness, and continue to be the talents of the integrated resort industry and for Galaxy Entertainment Group’s new development projects in Cotai.”
Francis Lui Yiu Tung, vice chairman of the Hong Kong-listed firm, said in comments in March that phase three of the group’s flagship Galaxy Macau venue on Cotai, would have “many new facilities that will be gradually launched in the second half of this year”.
Oct 06, 2022Moody’s Investors Service says it expects earnings for Genting Singapore Ltd to recover, and the firm’s credit metrics to “remain strongly positioned” as the Singapore casino market...
Oct 06, 2022
Third-quarter casino gross gaming revenue at Cambodia operator NagaCorp