Troubled Australia-listed operator Silver Heritage Group has reportedly laid off about 400 staff at its Tiger Palace Bhairahawa in Nepal, according to a report in The Himalayan Times.
The report asserts that management sent mail on September 9 informing the relevant staff members that their two-year contracts had been terminated and that they would not be reappointed. The firm’s financial difficulties were cited as the reason.
In response, workers launched a protest in front of the facility demanding reinstatement, and accusing the firm of violating the nation’s Labor Act.
On May 18, Silver Heritage entered into receivership. Last month, Philippines-based HatchAsia put forward a proposal to take over Silver Heritage and inject A$530,000 in cash into the ailing company.
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.