Genting Singapore’s Resorts World Sentosa is cutting close to 400 casino employees as the company continues to face headwinds from falling revenue.
The cuts include 150 dealers, 200 supervisors and 25 pit managers. They have been let go in recent weeks, either through voluntary retrenchment or termination of services, according to local news outlets.
The retrenchment exercise at the 12,000-staff strong RWS is understood to have started in late May this year.
“Together with Workforce Development Agency and Singapore Tourism Board, MOM is working closely with both the company and union to render assistance to the affected employees,” a spokesperson at the ministry told TODAY.
A spokesperson for the company said the headcount review had been necessary in the gaming business to achieve the right size to meet its business needs, according to remarks attributed to an unnamed spokesman.
Last month, Genting Singapore reported first quarter net profit fell 83 percent year on year to $7.9 million, due to higher foreign exchange losses, higher bad debt provisions, finance and other costs.
Results were below analyst expectations, due to “owing to greater-than-expected bad debt provisions”, said Union Gaming.
Genting spokesmen have said the company expects to be in a full construction mode on its Las Vegas Strip project by the end of the year.
Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: .