MGM Resorts began laying off 18,000 furloughed workers on Monday as the impact of the pandemic drags on.
The cuts represent about one fifth of its U.S. workforce. Under Federal Law, the operator was required to send layoff notices to employees who have been furloughed for six months. However, it adds it will take them on again as business picks up.
“While we have safely resumed operations at many of our properties and have returned tens of thousands of our colleagues to work, our industry — and country — continues to be impacted by the pandemic, and we have not returned to full operating capacity,” The Washington Post cited chief executive Bill Hornbuckle as saying in a letter to staff.
Medical benefits will remain in place until the end of September and the company said those workers who are brought back will have their benefits and seniority reinstated.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Covid-19 forced the rapid and unexpected closure of venues across Australia, changing the operating environment with unprecedented speed and leaving managers scrambling to adapt...
Nagasaki Governor Hodo Nakamura has announced that his prefecture’s RFP process would commence from January 7, showing his eagerness to get an early jump on compiling an IR licensing proposal that cannot be submitted until at least October, under the revised timeline.
Century Entertainment, formerly known as Amax International, announced plans to consolidate its shares on a five-for-one basis and to increase its authorized share capital.
Studio City Finance Limited has announced that it has priced its international offering of senior notes due 2029 at US$750 million. The 5 percent senior notes will be due 2029.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.
