The gambling-friendly enclave of Macau reportedly now has two fewer kasinos following news that operator Galaxy Pertunjukan Grup Limited has shuttered its Rio Kasino and President Kasino properties.
According to a report from Inside Asian Gaming, the closure of the ‘satellite' venues took place early this morning in the run-up to the introduction of legislation that is expected to compel such enterprises to commit to a new manajemen fee business mode. The source detiled that the two downtown facilities had been run by Galaxy Pertunjukan Grup Limited's City Clubs arm, which is a collaboration initiated in 2004 that moreover includes the nearby Kasino Waldo facility.
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Galaxy Pertunjukan Grup Limited reportedly asserted that the closures are not due to result in any job losses with all impacted workers being ‘reassigned to other kasinos within the grup with all employment terms remaining unchanged'. The Hong Kong-headquartered operator purportedly also disclosed that this is relocation to take place once it has completed an intern inventory and asked its tim members for their preferred new locations.
Reportedly read a pernyataan from Galaxy Pertunjukan Grup Limited…
"They will also be provided with vocational pelatihan to help them adapt to the new working environment. We are grateful for the dukungan and love of the publik, our customers from all walks of life of Rio Kasino and President Kasino over the years and we will continue to contribute to the leisure and tourism industry in Macau."
Sextuple skenario:
All of the kasinos in Macau are run by either Melco Resorts and Pertunjukan Limited, MGM China Holdings Limited, SJM Holdings Limited, Sands China Limited, Galaxy Pertunjukan Grup Limited or Wynn Macau Limited. But, some of these firms essentially sub-contract their gaming operations out to ‘satellite' partners who keuntungan by receiving a sharing of any revenues they may generate.
Coming closures:
However, this state of affairs is reportedly soon set to change as a draft gaming bill currently making its way through the legislative process is destined to give such venues a three-year window to either abandon their previous business models or shut down. The daftar of shuttering ‘satellite' kasinos in Macau is purportedly soon set to furthermore include the Grand Emperor Hotel as well as all four operated by local enterprise Golden Dragon Grup Company Limited.
