Suncity VIP Club offers staff voluntary redundancy
Covid-19 claims another financial victim as high-rollers’ club aims to cut costs in the face of the pandemic.
Suncity VIP Club is shedding staff via a voluntary layoff scheme in a bid to cut costs due to the adverse effects of Covid-19.
Volunteers are being promised a sizable benefits package, including extra allowances for over-60s, full provident fund payouts, medical insurance and help to find new jobs.
Suncity’s CEO Alvin Chau sent staff a personal memo, lamenting the effects of the pandemic and pointing out the urgent need to restructure.
The scheme is being launched a year after Chau surprisingly made Suncity VIP Club’s finances public to rebuff rumours that it was unable to cover its clients’ financial deposits.
Suncity Group’s Hong Kong-listed arm opened its first integrated resort, Hoiana in Vietnam, last year and is forging ahead with a major casino-hotel project in Manila as well as the Russian integrated resort Tigre de Cristal.
However, the company recently stepped back from a similar project in Wakayama, Japan, citing the current global situation.