Macau junket decided cuts pay for senior managers amid Coronavirus crisis.<\/p>\n\n\n\n\n\n\n\n
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.<\/p>\n\n\n\n
The pay cuts are a voluntary initiative which covers a two-month period and applies to Suncity Group\u2019s Macau-based VIP operations\u2019 management personnel at \u201cassistant director and above\u201d.<\/p>\n\n\n\n
The news comes after the Macau government asked casino operators to do all they can to avoid redundancies during the global pandemic. <\/p>\n\n\n\n
Local authorities have previously urged the city\u2019s six gaming licensees to fulfil their \u201csocial responsibilities\u201d by not imposing lay-offs or forcing pay cuts since the onset of an unprecedented 15-day shutdown of casinos in early February.<\/p>\n\n\n\n
Macau\u2019s 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau junket decided cuts pay for senior managers amid Coronavirus crisis.<\/p>\n","protected":false},"author":2,"featured_media":2904,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Suncity Group, a prominent Macau junket operator, has implemented voluntary pay cuts for senior management in its Macau-based VIP operations for a two-month period. This measure is a direct response to the severe financial impact of the Coronavirus pandemic on the VIP gambling sector, aligning with the Macau government's directive for gaming licensees to avoid redundancies and fulfill social responsibilities amidst an unprecedented decline in GGR and visitor numbers.","focusai_entities":"Suncity Group","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on VIP GGR?","query":"What is the projected long-term impact of these cost-cutting measures and the broader economic downturn on Suncity Group's VIP GGR and market share within Macau's gaming vertical?"},{"label":"Regulatory compliance implications?","query":"How do the Macau government's 'social responsibility' directives influence future regulatory compliance frameworks for employment practices across all gaming licensees?"}],"footnotes":""},"categories":[160,161,16338,163,167],"tags":[257],"class_list":["post-5075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-daily-news","category-east-asia-news","category-finance-news","category-news-region","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5075"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5075\/revisions"}],"predecessor-version":[{"id":5082,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5075\/revisions\/5082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/2904"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}