• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 3 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Genting Singapore reduces managerial wages amid dire profit guidance for 1H20

Newsdesk by Newsdesk
Wed 18 Mar 2020 at 05:40
Genting Singapore set to raise US$3.2 billion from Yen-dominated bonds for Japan expansion

Resorts World Sentosa in Singapore.

96
SHARES
2.2k
VIEWS
Print Friendly, PDF & Email

Genting Singapore, operator of Resorts World Sentosa (RWS), says it has slashed the pay of its executive and management teams due to falling revenues amid the global coronavirus pandemic.

As part of new cost control measures, the company said it has implemented an 18% reduction in the base salary of Executive Directors, 15% reduction in non-executive directors’ fees for 1Q20 and reduction in salary of between 9% and 18% for all managerial staff. Employees have also been encouraged to take either no-pay leave or annual leave.

News of the salary cuts formed part of a dire profit outlook published by Genting Singapore on Tuesday as tourism industries across the world continue to feel the impact of travel restrictions.

“Our property, Resorts World Sentosa, has experienced a significant decrease in visitor attendance and correspondingly revenue across all its facilities, including our attractions, hotels, restaurants, MICE facilities and the casino,” it said.

“While the extent of the impact on the Group’s financial performance and operations for the full year 2020 cannot be determined at this stage as the duration and extent of the spread of COVID-19 is uncertain, the Board wishes to issue a profit guidance note that the Group expects that its financial results will be significantly and adversely impacted for the first quarter ending 31 March 2020 and the half year ending 30 June 2020, as compared to the corresponding periods in the previous year.”

RelatedPosts

A who’s who of Thai society to join major local media contingent for TECR 

A who’s who of Thai society to join major local media contingent for TECR 

Tue 3 Jun 2025 at 18:55
Macau GGR comes in at MOP$18.9 billion in April, up 1.7% year-on-year

Macau government lowers 2025 GGR forecast to US$28 billion

Tue 3 Jun 2025 at 16:06
Less than one month remaining to MGS Summit 2022

Macau GGR sets new post-COVID high of MOP$21.2 billion in May

Sun 1 Jun 2025 at 12:53
Vietnam asks PM to grant approval for US$2 billion Van Don casino development in Quang Ninh province

Vietnam asks PM to grant approval for US$2 billion Van Don casino development in Quang Ninh province

Sun 1 Jun 2025 at 11:26
Load More
Tags: casinoCoronaviruscovid-19GamingGenting Singaporeprofit guidanceResorts World SentosasalariesSingapore
Share43Share6
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

A who’s who of Thai society to join major local media contingent for TECR 

A who’s who of Thai society to join major local media contingent for TECR 

by Ben Blaschke
Tue 3 Jun 2025 at 18:55

The Thai Entertainment Complex Roundtable (TECR), taking place this Thursday 5 June at Grand Hyatt Erawan Bangkok, will see a very select audience of around 50 invited guests as well as leading local mainstream media in attendance.  This unique event...

Victory against all odds: How Paris Saint-Germain won the UEFA Champions League for the first time

Victory against all odds: How Paris Saint-Germain won the UEFA Champions League for the first time

by Newsdesk
Tue 3 Jun 2025 at 17:30

CLIENT PROMOTION For years, world-class footballers have been the face of Paris Saint-Germain (PSG). Stars like Zlatan Ibrahimović, Neymar, Messi and Kylian Mbappé thrilled fans with dazzling performances and consistent triumphs in Ligue 1. The squad’s lineup of star newcomers...

FBM Philippines closes the first semester of 2025 with exciting Champion sa Panalo Ngayong Hunyo promotion

FBM Philippines closes the first semester of 2025 with exciting Champion sa Panalo Ngayong Hunyo promotion

by Newsdesk
Tue 3 Jun 2025 at 17:26

CLIENT PROMOTION FBM Champion sa Panalo Ngayong Hunyo is set to close the first semester in the Philippines with exciting thrills and prizes. Organized by the global gaming brand, this campaign runs from 4 to 28 June across more than...

Macau GGR comes in at MOP$18.9 billion in April, up 1.7% year-on-year

Macau government lowers 2025 GGR forecast to US$28 billion

by Pierce Chan
Tue 3 Jun 2025 at 16:06

The Macao SAR Government announced Tuesday that it has lowered its gross gaming revenue estimate for 2025 to MOP$228 billion (US$28.2 billion), or an average of MOP$19 billion (US$2.35 billion) per month – down from a previous estimate of MOP$240...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語