• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 27 August 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 Malaysia asks staff to take further pay cuts on latest COVID-19 impact: report

Ben Blaschke by Ben Blaschke
Thu 4 Mar 2021 at 05:12
lim kok thay

Genting Group Chairman and CEO Lim Kok Thay.

154
SHARES
3.8k
VIEWS
Print Friendly, PDF & Email

Genting Malaysia, operator of Malaysia’s Resorts World Genting, has reportedly asked some employees to undergo further staff pay cuts as it looks to limit the damage from the ongoing COVID-19 pandemic.

According to a report by Bloomberg, an internal Genting Malaysia memo circulated on Monday 1 March 2021 requests that some employees agree to a temporary pay cut of between 15% and 20% for a period of around three months, until May. Other staff have been asked to take one day of leave each week without pay.

The memo also says that senior management has already agreed to a 20% pay cut, according to Bloomberg.

“We need to control Resort World Genting’s cost base to ensure the sustainability of our business and to help protect as many jobs as possible,” Genting Malaysia President and COO Lee Choong Yan is said to have written in the memo.

News of the memo comes almost a year after Genting Malaysia’s parent company, Genting Berhad, implemented group-wide pay cuts for the first time since 1965, including 50% reductions for those holding Vice President roles or higher and 20% cuts to the basic salaries of other employees. Those cuts were in place throughout 2020.

Resorts World Genting was closed for three months last year, from 18 March to 19 June, due to the COVID-19 pandemic and again for almost four weeks this year from 22 January to 16 February following a second wave of the virus across Malaysia.

Genting Malaysia recently reported a net loss of MYR258.2 million (US$63.7 million) for the three months to 31 December 2020.

RelatedPosts

Genting’s KT Lim moving to take New York’s Resorts World Catskills private

Maybank IB: Genting Malaysia earnings to climb 24% in FY26 on “positive” sale of New York resort’s non-gaming assets

Tue 19 Aug 2025 at 05:26
Genting Malaysia to form part of new merged entity taking full ownership of New York’s Empire Resorts

Genting Malaysia to eliminate Empire Resorts debt via sale and lease back agreement for non-gaming assets of New York’s Resorts World Catskills  

Mon 18 Aug 2025 at 05:14
We’re Back!

Executive reshuffle sees RWS CEO Lee Shi Ruh named President and COO of parent company Genting Singapore

Sat 2 Aug 2025 at 15:26
Genting presents New York casino proposal to Community Advisory Committee, described as state’s largest IR

Genting presents New York casino proposal to Community Advisory Committee, described as state’s largest IR

Tue 22 Jul 2025 at 05:21
Load More
Tags: covid-19Genting Malaysialee choong yanLim Kok ThayMalaysiaResorts World Genting
Share62Share11
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Ainsworth flags 1H25 revenue growth on Australian market strength but Novomatic takeover facing opposition by family of founder

Ainsworth and Novomatic terminate scheme of arrangement following revolt by shareholder block, unconditional takeover offer remains

by Ben Blaschke
Wed 27 Aug 2025 at 05:17

Australian slot machine and games developer Ainsworth Game Technology Limited (AGT) and its parent company Novomatic AG have terminated a scheme of arrangement under which Novomatic was looking to take 100% ownership, confirming they have deemed it unlikely that specific...

The Mall | NUSTAR Cebu wins three awards at 13th PropertyGuru Philippines Property Awards

The Mall | NUSTAR Cebu wins three awards at 13th PropertyGuru Philippines Property Awards

by Newsdesk
Wed 27 Aug 2025 at 04:49

NUSTAR Resort & Casino’s The Mall | NUSTAR Cebu has taken home three awards at the 13th PropertyGuru Philippines Property Awards, honored for Best Retail Development, Best Retail Architectural Design, and Best Retail Interior Design. Described as the flagship luxury...

Tak Chun boss Levo Chan to make mandatory cash offer for additional 29% stake in Macau Legend

Macau Legend to recognize US$165 million impairment on loss of satellite casino operations at Legend Palace

by Ben Blaschke
Wed 27 Aug 2025 at 04:39

Macau Legend Development Ltd will recognize an impairment loss of HK$1.29 billion (US$165 million) in its interim results due to the decision by SJM Resorts S.A. to close down its Macau satellite casino operations by the end of this year,...

Macau GGR down 62% year-on-year to MOP$2.48 billion in June

Morgan Stanley: Macau gaming stocks likely set for re-rating given recent dividend payouts

by Ben Blaschke
Tue 26 Aug 2025 at 12:59

Macau gaming stocks look set for a re-rating given a recent spate of dividend declarations and growing bullishness on the sector, according to investment bank Morgan Stanley. In a recent note in which they outlined their expectation for a 15%...

Your browser does not support the video tag.


IAG

© 2005-2025
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

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語