MGM China president Kenneth Fung said the company has no plans to lay off employees at this current stage, following a number of voluntary exit schemes enacted by other Macau operators.
Fung said he has high expectations for the Summer holidays and was optimistic of Macau’s position as a safe destination for mainland Chinese travellers.
“We have high expectations, we expect we will have a pretty strong summer holiday. As evidenced in the past May Golden Week, not only in Macau marketplace, as well as in other mainland destination markets, for example, Sanya. Mainland Chinese, actually everybody including us, all want to travel. Macau remains the safest and the most convenient destination market outside of mainland China for mainland Chinese.”
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.