GGRAsia – Neptune Guangdong Group denies Macau junket layoffs

Neptune Guangdong Group denies Macau junket layoffs

Jun 11, 2015 Newsdesk Latest News, Macau, Top of the deck

An entity signing itself Neptune Guangdong Group took out an advert in the Chinese-language Macao Daily News on Thursday, denying that it is the Macau junket investor mentioned in recent media reports as possibly facing up to 300 layoffs of workers by the end of this month.

The possibility of job redundancies among Macau junkets had also been mentioned in a note on Monday by Daiwa Securities Group Inc. Daiwa had referred to the possible layoffs as at “Guangdong Group”.

The newspaper advert taken by the Neptune Guangdong Group entity stated: “Our group has a considerable presence in Macau as a junket promoter with about 800 employees.”

It added: “Because of the large number of employees and the high turnover rate of employees, [we have had] 100 [or] 200 employees who resign or are let go each year for different reasons in the past few years. This year so far the number of employees who resign or are laid-off is similar to the level of the past few years, contradictory to the online rumours that 300 employees will be sacked by end of this month. The relevant media reports are unfounded.”

Its advert stated that the rumours “have a certain impact” upon the reputation of the group and the morale of its workers and that it reserves legal rights to take action against what it called any unfounded rumours.

GGRAsia has previously been told by management at Hong Kong-listed junket investor Neptune Group Ltd that it is not connected to “Neptune Guangdong Group” nor to “AG”, another junket brand that uses a ship’s wheel similar to Neptune Group’s corporate logo on its vehicles and printed materials.

GGRAsia’s attempts to contact Neptune Guangdong Group have so far been unsuccessful.