Former Employees Suffer as Macau VIP Industry Collapses

Details: Category: Gambling Industry; Created: Sunday, 26 February 2023 05:52

macau vip indsutry The Macau VIP industry is adjusting to a new reality. As a result, over 90 percent of former employees haven't found new jobs yet. According to a sportsbook watchdog, less than ten percent of junket employees returned to work. Also, there are a few junket operators that resumed their operations.

Although thousands of tourists returned to Macau, the junket industry failed to recover to its pre-pandemic numbers. Also, the sector suffered due to the new policies of the local authorities. According to sportsbook pay per head sources, they want Macau to shift away from VIP gambling and turn into a mass-market model. Thus, they want to rebrand the gambling capital into a tourist destination.

Industry insiders noted that most former VIP industry employees want to return to work. They don't have the same financial security as local food delivery personnel or taxi drivers in their new jobs. However, their former jobs wouldn't pay the same at present.

Macau VIP Industry Collapses

The new junket rule only allows one source of revenue for junket operators, which is a 1.25 percent commission. As a result, its workers are not allowed to engage in gaming revenue-sharing schemes. Thus, the operators of VIP rooms will not be able to provide the same payment for their staff.

Data revealed by the Macau Gaming Industry Employees Home relating to a poll the workers union conducted in March of last year verified former VIP workers' difficulty reentering the business.

Finding work was a problem for 85.1% of respondents. Also, it took over six months for 70% who did find a job in the industry to do so.

Despite being entitled to termination pay, most workers took lower-paying jobs in retail or as taxi and delivery drivers. Also, they won't be able to learn how to become a bookie in the city.

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