Job losses reported at Genting Singapore’s Resorts World Sentosa
A total of 400 casino employees have been let go by Genting Singapore’s Resorts World Sentosa (RWS) as the operator continues to face financial decline.
According to Todayonline, 150 croupiers, 200 supervisors and 25 pit managers have been moved on, either through voluntary retrenchment or termination of services.
The retrenchment exercise at RWS, which employs 12,000 people, is reported to have begun in May, with the Singaporean Ministry of Manpower having been informed of the move.
In conversation with TODAY, a spokesperson at the ministry said: “Together with Workforce Development Agency and Singapore, MOM is working closely with both the company and union to render assistance to the affected employees.”
An affected pit manager told TODAY that: “RWS first offered us a voluntary retrenchment scheme with a package of half a month’s salary for every year of service.
“After that, they informed us they would be firing some of us in one week’s time.”
The operator reported a decrease in Q1 turnover of 5% in May, to S$608m, while gaming revenue was down 9% to S$450.5m
The decline has been attributed to the retreat of high rollers in the wake of Chinese President Xi Jinping’s corruption crackdown, as well as a slowdown in the Chinese economy.
In its filing to the Singapore Exchange, the operator said: “We continue to exercise caution with our VIP gaming business.
“In this connection, we have been prudent in providing for our gaming receivables.”
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