Macau Assures Job Security for Workers as Casinos Shut Down
The Macau government has pledged to protect the interests of the 5,600 local workers who would be impacted by the impending satellite casino closures. According to Macau Chief Executive (CE) Sam Hou Fai, authorities will closely monitor gaming concessionaires to ensure they meet their obligations to the workers.
LISTEN TO THIS ARTICLE:Due to the region's new casino regulations, casino operators SJM Resorts, Galaxy, and Melco have declared their intention to close 11 third-party or satellite gaming venues by year-end and ensure proper arrangements for affected employees, as requested by the government.
During an event held yesterday, June 15, Sam revealed that concessionaires will absorb 4,800 casino employees, while the employers of the remaining 800 workers will be responsible for them, as per local labor regulations.
Sam noted that the Labour Affairs Bureau will monitor the cases of the 800 workers. Gaming concessionaires will also help satellite casino operators find positions for them if needed.
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Contrasting Views on Economic Impact
Sam emphasized that the closure of the 11 satellite casinos is unlikely to significantly affect the territory's GDP, given their relatively small contribution to gross gaming revenue. This view was also recently mirrored by André Cheong Weng Chon, Macau's Secretary for Administration and Justice, who noted that the closures would be positive for the industry's regulated growth.
However, local businesses, particularly in the ZAPE district, where many satellite casinos are situated, do not share this optimism. Instead, they predict a significant drop in sales after the closures.
Wu, owner of a dried seafood store, estimated that their business would decline by at least 50 percent, as gamblers from a casino nearby, marked for closing, are their primary clientele. A telecommunications shop owner in the area warned that he might need to cut his workforce by about a third due to an anticipated 70 percent drop in sales.
To support these businesses through the transition, Sam noted that Secretary Tai Kin Ip has been meeting with local business representatives to explore policy measures and strategies to mitigate the impact.
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