Employment alteration at Wynn Macau Limited

As part of an effort to better manage its costs during the coronavirus-induced economic downturn and Asian casino operator Wynn Macau Limited has reportedly announced that it will not be renewing the contracts of several unidentified senior managers.

According to a report from GGRAsia, the Hong Kong-listed firm declared that it is to pass on extending ‘a number of expiring contracts’ currently held by ‘overseas middle and senior management’ figures. The source detailed that the move comes after the operator recently chalked up a third-quarter loss of about $280.7 million as associated revenues plunged by 93.7% year-on-year to slightly over $67 million.

Changing preferences:

Responsible for Macau’s Wynn Macau and Wynn Palace Cotai venues, Wynn Macau Limited reportedly divulged that the non-renewal decision also forms part of a ‘long-term plan for management succession and localization’. This aspect is purportedly thought to refer to a wish from the local government that all area casinos begin prioritizing native candidates over their foreign-born rivals with regards to filling future senior management positions.

Pre-emptive counsel:

The government of Macau earlier this year reportedly called for local casino operators to avoid large-scale job lay-offs in response to the coronavirus pandemic although Melco Resorts and Entertainment Limited subsequently revealed that some senior-level employees had voluntarily left as it instituted cost-cutting measures to help weather the ongoing financial downturn.

Reticent recovery:

Majority owned by Las Vegas-headquartered Wynn Resorts Limited, Wynn Macau Limited moreover reportedly pronounced that the two-star Golden Flower restaurant within its Wynn Macau property had been ‘temporarily closed during the pandemic period’ and would only be re-opened ‘when visitor volumes are more normalized’. It furthermore purportedly stated that it ‘still’ has ‘a couple of restaurants that are temporarily closed’ but that these are to be revived ‘in due course as business recovers.

wynn macauwynn macau limitedwynn palace cotaiwynn resorts limitedmelco resorts and entertainment limitedcoronavirusgolden flower

Casino OfferPlay
Omni Slots100% up to €300Play Now
LeoVegasUp to €400 bonusPlay Now
FruitKings U.K100% up to £100Play Now
Wildz100% up to €500Play Now
Pronto100% up to €200Play Now
GreenplayDeposit €25 Get €50Play Now
Dunder100% up to €100Play Now
Wazamba120% Bonus up to €500Play Now
RoyalPanda100% up to €100Play Now

Leave a Reply

Your email address will not be published. Required fields are marked *