MACAU BUSINESS Secretary calls on gaming operators to increase staff salaries T
he Secretary for Economy and Finance, Lei Wai Nong, stated that the government has encouraged gaming operators to raise the salary levels of their employees. During a Policy Address Question and
Answer session at the Legislative Assembly, Lei began by emphasising that the government cannot demand operators to update their staff’s salaries, but they can suggest such a move. “I cannot mandate that gaming concessionaires adjust their employees’ salaries, but we have been advising them to share the fruits of the economic recovery with their workers,” Lei Wai Nong said. The Secretary for Economy and Finance stressed that
the government can only express the hope that capable firms will consider raising salaries for their staff. “I hope all companies understand that their workers are the most important assets of their organisations.” He further quoted a survey indicating that in general
companies would have room to provide a 2-3 per cent salary increase. Lei added that the government has been monitoring the six gaming operators’ fulfilment of the 10-year
Jockey Club to adopt 30 pct cut in prize money amid financial woes
T
he Macau Jockey Club (MJC) has announced a 30 per cent reduction in horse betting prize money, starting this Saturday. The announcement was made through a letter addressed to club members and horse owners, public broadcaster TDM Canal Macau reported. This move comes as the financial troubles of the city’s sole horse betting operator continue to worsen. Horse racing has yet to show clear signs of post-pandemic recovery, with gross revenue standing at MOP32 million (MOP 4 million) in
the first nine months of the year. This is a 14 per cent increase compared to the same period in 2022 when the city was under strict Covid-related restrictions, but it is only 43 per cent of the pre-pandemic levels in 2019. If compared with the first three quarters of ten years ago (2013), the MOP32 million tally accounts for only 11.7 per cent. “Due to the below-expectation betting turnover of the club over the years, the club reluctantly implemented a corresponding
policy adjustment,” reads the letter, as shown by TDM. The MJC has been on a losing streak since 2005, reporting accumulated losses of MOP2.1 billion (US$261.4 million) for 2022 in June.
concession contracts, emphasising that whenever issues arise, the six operators have been adopting the necessary measures in a suitable and timely manner.
24 JANUARY 2024
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