The coronavirus menace has caused so much damage to the gaming industry in Macau that it scared everybody in the industry. Though the investors who were still standing speculated the effects will be temporary, already casinos are counting losses of up to millions of dollars.
In fact, it’s not just the business owners, casino employees have not been spared either. Since the shutdown of the gaming venues in in most major parts of China, the workers have had to contend with unstable and reduced income.
Fortunately, the good news is that, these casino employees may no longer have to deal with income uncertainty. That is, according to news by CalvinAyre.com, Melco Resorts and Entertainment has partnered with the Macao Federation of Trade Unions (FAOM), to provide financial assistance to all employees in need, not just those working for the company.
The Special Aid Fund, as the project has been named will see not less than $624,000 set aside for employee aid. Casino employees who have unstable income or who have been greatly affected by the virus outbreak, including tour guides and taxi drivers, are being targeted by the program. Melco executives and FAOM have promised to closely monitor the use of the money to ensure it does not land in the wrong hands.
However, the workers union will ultimately be involved in dispersing the handouts.
During the launch of the noble cause, Lee Chong Cheng, President of FAOM said that they are well aware of the troubles their employees are facing and that is the reason behind the fund. They hope it will go a long way in aiding alleviate the effects of the epidemic until the situation returns to normal.
Lawrence Ho, Chairman and CEO of Melco Resorts, added saying that it is the responsibility of the gaming operator to stand with the community in difficult times like this. They are grateful to the Macao Federation of Trade Unions for agreeing to partner with them in this project. Without their cooperation, the project would not have taken off. They will continue praying for the affected families as they work hand in hand with the government to ensure the safety of their customers, staff and their families.
This is Melco’s second project towards the coronavirus epidemic and its effects. Earlier on, Melco had donated $2.6 million to the Macau’s rapid recovery from coronavirus fund. Several other key players in the gaming industry of Macau have also been actively involved in efforts to fight the virus.
Other than instituting protective measures in Macau, the government has also stepped up efforts to help ease the aftermath of the virus on its residents. Several new tax breaks have been announced to help soften the economic blow on local businesses. It is also giving every city resident a voucher worth $374 that can be utilized in a number of retail facilities including restaurants. The vouchers will be valid for the next three months.
