Executive Director and Chief Executive Officer of Macau Legend, Melinda Chan Mei Yi, said the company has renewed its contract with SJM until December 31, but the company will make “moderate adjustments” by laying off “16% of its staff.”
Chan said, “We have a partnership with SJM and have extended our contract with them until 31 December.”
Regarding the period after 31 December, she said she would wait for the new gaming license to be granted to SJM before continuing discussions with SJM.
“The satellite casinos are very passive. The concessionaires can negotiate the terms with the government, but the satellite casinos can only negotiate the terms with the concessionaires, and we do not know what conditions will be offered by the concessionaires.”
As for layoffs at Macau Legend, Chan said that the company will hold discussions with its employees. “If they are willing to change departments, they can stay,” Chan said, “But if they are not willing to change jobs, the company will lay them off.
“Macau’s economic structure is undergoing a deep adjustment. The number of tourists coming to Macau has reduced, so the future development of Macau needs to change, and Macau Legend will make appropriate adjustments.”
Chan believes that it is reasonable for Macau Legend to reduce the number of staff given the decrease of tourists. While staff positions are planned to be reduced by 16% today Chan said, “Macau Legend’s business volume is down by more than 20%.”