85% of former workers in junket sector still unemployed
About 85% of employees dismissed from junket operators, due to the turmoil engulfing the sector, are still unemployed, with most being unable to make ends meet.
According to a survey conducted by the Integrated Service Centre of the Macau Gaming Industry Employees Home, 45% of the respondents who were still out of work had already sold or had considered selling their assets.
In early January, a total of 766 complaints had been filed regarding the subsidiaries of junket operator Suncity, businesses which have ceased trading amid the arrest of junket mogul Alvin Chau. In addition to the subsidiaries, the bureau received 21 complaints from employees of “companies related to Suncity.”
January data shows that number of gambling promoter licenses in the city has decreased nearly 50%, with 46 junket licensees for the current year: far fewer than the approved 85 license gaming promoters.
According to the survey, respondents are generally unsatisfied with the employment support they have received, and 85% expect to receive employment referral support.
The study also shows that only 15% of the respondents expect a monthly income of more than MOP20,000, which is significantly less than the original income from their previous jobs; while over 80% expect monthly wages ranging from MOP12,001 to MOP 20,000.
This implies that these former workers already have lowered their expectations. However, according to the group, they may have to lower it down further.
Over half of the 309 respondents are former employees of Suncity, while 18.1% of the respondents were formerly employed by Tak Chun and 12.3% from the Guangdong Group.
Recent government data shows that a total of 373,600 people were employed across the city’s economy, of whom 281,000 were residents. These figures represent a drop of 5,400 and 3,500, respectively, when compared with the period between November 2021 and January 2022.
The drop in the number of people who are underemployed – which fell by about 1,500 people (to 11,100) – was mostly attributed to those engaged in the sector Gaming & Junket Activities.
Furthermore, gaming insiders expect no recovery in the gaming sector for at least six months, with its financial situation set to worsen.
The industry is currently eyeing the May 1 Golden Week Holiday as a potential catalyst for gaming tourism recovery.
The respondents, who have been jobless for up to four months, believed that there are not enough job opportunities due to the effect of the pandemic on the economy. Their lack of vocational skills also hinder them from landing on a good job opportunity, according to the survey.
