Macau junket decided cuts pay for senior managers amid Coronavirus crisis.
Macau.- Leading Macau junket business Suncity Group is cutting the pay of senior managers as the firm braces for the financial impact of Coronavirus on the VIP gambling business.
The pay cuts are a voluntary initiative which covers a two-month period and applies to Suncity Group’s Macau-based VIP operations’ management personnel at “assistant director and above”.
The news comes after the Macau government asked casino operators to do all they can to avoid redundancies during the global pandemic.
Local authorities have previously urged the city’s six gaming licensees to fulfil their “social responsibilities” by not imposing lay-offs or forcing pay cuts since the onset of an unprecedented 15-day shutdown of casinos in early February.
Macau’s gaming revenue plunged over 87 per cent in February while the visitors to the gambling enclave also tumbled by close to 96 per cent in the same month.