Melco Resorts and Entertainment is looking to cut table games staff at its City of Dreams, Altira and Studio City casinos in Macau and is offering pit managers a range of buyouts, voluntary transfers and unpaid leave packages.
The moves are reported in part as a response to recent contractions in the Chinese territory’s casinos in play from so-called VIP gamblers: high rollers, mostly from mainland China, who have been the foundation of the market’s 15-year gambling boom. Analysts are forecasting a decline of around 2 percent in VIP revenue this year.
The offers may also be Melco’s response to pressure from the local government to fast-track the promotion of croupiers into more senior positions.
Croupier jobs, which are relatively high-paying compared with other segments of the local economy, are restricted by law to Macau residents, and the government’s support of full employment and extensive labor protections makes it difficult for operators to adjust staff levels to meet fluctuations in market demand.
The buyouts, which are “100 percent voluntary,” Melco said, range as high as 500,000 Macau patacas—roughly US$62,000—about 15 times the average monthly pit boss salary, depending on seniority. The latest average for all positions across the territory’s casino floors is MOP23,950.
The unpaid leave being offered is reported to range from one month to as long as a year.
Support and training also are being offered for pit managers wishing to transfer to other departments within the company.
Melco said, “Numerous pit manager colleagues have expressed their excitement about the openings and possibilities on offer.”
