International Business & Economy Casino business faces difficulties, RWS retrenches 400 casino staff

Casino business faces difficulties, RWS retrenches 400 casino staff

Author

Date

Category

- Advertisement -

TODAY newspaper reported that Resorts World Sentosa (RWS), which operates one of the two casinos here in Singapore has retrenched about 400 staff citing difficulties in its casino business. The paper said that of RWS’s 12,000 strong staff, 150 croupiers, 200 supervisors and 25 pit managers have been affected by the downsizing exercise.
The double whammy of the Chinese President’s anti-corruption drive and the faltering Chinese economy have affected the high-rollers who are the big-spenders in RWS. RWS told the employees it retrenched that it took the action because the gaming company anticipated that their business situation is unlikely to improve anytime soon.
In making an executive decision on approving the two Integrated Resorts here in Singapore PM Lee Hsien Loong said in 2005:
“The whole region is on the move. If we do not change, where will we be in 20 years’ time? Losing our appeal to tourists is the lesser problem. But if we become a backwater, just one of many ordinary cities of Asia, instead of being a cosmopolitan hub of the region, then many good jobs will be lost, and all Singaporeans will suffer. And we cannot afford that.<…>Altogether, MTI estimates that the two IRs will create about 35,000 jobs, counting jobs within the IRs, plus spinoffs throughout the economy.”
In 2006 the Government’s mouthpiece Channel NewsAsia said that RWS is expected to generate about $2.7 billion in Value-Add to Singapore’s annual Gross Domestic Product and about 30,000 jobs by 2015.

- Advertisement -

Still no news about investigations into Ivan Lim, six months after GE2020

Some netizens are wondering why there has been no news on the investigation into former People’s Action Party (PAP) candidate Ivan Lim, especially since it has been more than half a year since the 2020 general election took place. Ivan Lim made...

Photo of deliveryman praying at HDB void deck goes viral

Over 13,000 netizens on Facebook have appreciated a viral photo of a deliveryman silently conducting his prayers at the void deck of a HDB block in Pasir Ris. The photo was published on social media by Facebook user Ong Beng Lee, who...

Video: Wheelchair-bound uncle rummaging through food waste at Chinatown hawker raises questions

A short clip of a wheelchair-bound elderly man has been circulating on social media, drawing various reactions and raising questions from netizens. The clip, posted on Monday (Jan 11), showed an old man turning over a bin at the utensil-return area in...