The real estate company where Wald Casino is located is in talks with Galaxy Entertainment Group on terms for renewal, but the chances of reaching an agreement are “small,” industry insiders told All in Media.
Galaxy Entertainment Group (GEG) yesterday announced the closure of two satellite casinos, Rio Casino and President Casino. Staff working at these two casinos have been transferred to other casinos under the concessionaire, “all employment conditions remain the same.”
Rio and the president’s casino have been closed since June 15, but TDM Radio reported that Wald had already submitted a request to do the same by the end of the month.
These three casinos employ about 600 people, most of them at the Rio and Wald casinos.
Galaxy City Club’s adjusted assets EBITDA fell 20% year-on-year in the first quarter of this year, down 68% quarterly to 8 million MOP, GEG’s latest financial report reveals increase.
According to Allin Media, the house edge of Rio Casino and Wald Casino in May was 12 million MOP and 7.5 million MOP, respectively, while the house edge of President Casino was only 1.3 million MOP.
Rio Entertainment, head of the Rio Hotel, released an ad today saying that game operator Galaxy Entertainment Group has never attempted to negotiate a renewal of a partnership agreement that allows the casino to continue operating. did.
In a half-page ad in the Chinese newspaper Macau Daily, Rio Entertainment Ltd released from Rio Casino a few months ago on June 15, before GEG closed and its concessionaire license expired. Claims to have received a notice that it has proposed to close. June 26, 2022.
As Allin Media reported earlier this month, the Galaxy allegedly expressed its intention to continue investigating gaming activities in Rio and Wald under the rental facility model, but the proposed rent was too high. Said, Galaxy didn’t accept. update.
“In the process, the landlord’s rent demand is high because the concessionaire has never negotiated with us to approve the renewal of cooperation and has never offered the company to rent space to continue its business. Rumors of being too much are fake, “adds Rio Entertainment.
Rio Hotel also proposes 21 different occupations within the hotel, with monthly salaries ranging from MOP 8,000 (US $ 989.5) to MOP 15,000, former casino workers such as front desk officers and Chinese restaurant managers. It is said that one can choose. , Clerk, mechanic, security guard.
Kelvin Choi Kam Fu, director of the Macau Gaming Enterprise Staff Association, which is linked to the Macau Trade Union Federation (FAOM), said that the proposed salary package is still lower than the average salary of casino dealers in the city, but they Former workers said they should accept the offer and “keep their work first”
Meanwhile, directors emphasized that employees should wait for a future economic recovery before considering their current career change.
Kelvin Choi also expressed hope that Game Concessionaire will do its best to take over the satellite casino, which is considering shutting down.