Euro2016 kicked off last night in Paris with France beating Romania 2:1. Good for the hosts to win the 1st game. Congratulation. Understand that Paris government is dealing real terrorists' threats as well as sanitary workers going on strike! Must say the workers know when to strike!
May there be peace, fair play and glory to the best team!
"Resorts World Sentosa laying off 400; analysts cite bad debt problem - The Straits Times 11 Jun 2016
About 400 staff are being retrenched at Resorts World Sentosa (RWS) amid tough times, The Straits Times understands.
More layoffs may be on the cards if operator Genting Singapore does not manage its serious bad debt problem and wrest more mass market share, observers say. If the regional slowdown persists, things could get worse.
RWS, which has 12,000 workers, is "reviewing operational resources". In a retrenchment letter seen by The Straits Times, RWS said: "In anticipation (that) the business situation is unlikely to improve any time soon, we have made a very difficult decision to reduce manpower."
RWS said in a joint statement with Attractions, Resorts and Entertainment Union (Areu) that it is necessary to review gaming business headcount to "achieve the right size to meet its business needs"."
So, the sun will never set on gambling is not really true. Of it is still true just that there are some persistent clouds refusing to leave RWS. If RWS hang in there for a little bit longer, the clouds will be blown away! I sincerely hope for the 2nd scenario.
Lessons for me are:
1. gaming can still be lucrative. Just that one needs to control the 'bad debts'. That means picking making money or no bad debts vs. just let them borrowed till their hearts contend boosting the revenue but may face a huge loss due to 'bad debts written'!;
2. maybe the gaming industry has to refine its expectations of always making super profit. Make some money. Create employment. Be happy with it. Alas, this is not the Singapore way as it must be growth all around. Growth in revenue. Growth in profit. Growth in employment. Growth in pay to the executives and some for the workers. Etc. Sustainable? Well, this retrenchment is one part of the answer! What do you think?;
3. Is gaming really that lucrative or money laundering? Some said gaming is just another way for dirty money get washed. It is hard to accept as MAS would not have condoned such act though when analysts and industry 'experts' point to business been negatively affected by President Xi's anti-corruption campaign in China repeatedly suggest something is going on some how. If this is the case, a business cannot be sustained on immoral means. It will collapse. Just a matter of when and not if it will.
What's next if this gaming industry does not pick up. More retrenchment? Will it spread its negative impact even wider next? We just have to hold our breaths and wait it out!! Amen!!
May there be peace, fair play and glory to the best team!
"Resorts World Sentosa laying off 400; analysts cite bad debt problem - The Straits Times 11 Jun 2016
About 400 staff are being retrenched at Resorts World Sentosa (RWS) amid tough times, The Straits Times understands.
More layoffs may be on the cards if operator Genting Singapore does not manage its serious bad debt problem and wrest more mass market share, observers say. If the regional slowdown persists, things could get worse.
RWS, which has 12,000 workers, is "reviewing operational resources". In a retrenchment letter seen by The Straits Times, RWS said: "In anticipation (that) the business situation is unlikely to improve any time soon, we have made a very difficult decision to reduce manpower."
RWS said in a joint statement with Attractions, Resorts and Entertainment Union (Areu) that it is necessary to review gaming business headcount to "achieve the right size to meet its business needs"."
So, the sun will never set on gambling is not really true. Of it is still true just that there are some persistent clouds refusing to leave RWS. If RWS hang in there for a little bit longer, the clouds will be blown away! I sincerely hope for the 2nd scenario.
Lessons for me are:
1. gaming can still be lucrative. Just that one needs to control the 'bad debts'. That means picking making money or no bad debts vs. just let them borrowed till their hearts contend boosting the revenue but may face a huge loss due to 'bad debts written'!;
2. maybe the gaming industry has to refine its expectations of always making super profit. Make some money. Create employment. Be happy with it. Alas, this is not the Singapore way as it must be growth all around. Growth in revenue. Growth in profit. Growth in employment. Growth in pay to the executives and some for the workers. Etc. Sustainable? Well, this retrenchment is one part of the answer! What do you think?;
3. Is gaming really that lucrative or money laundering? Some said gaming is just another way for dirty money get washed. It is hard to accept as MAS would not have condoned such act though when analysts and industry 'experts' point to business been negatively affected by President Xi's anti-corruption campaign in China repeatedly suggest something is going on some how. If this is the case, a business cannot be sustained on immoral means. It will collapse. Just a matter of when and not if it will.
What's next if this gaming industry does not pick up. More retrenchment? Will it spread its negative impact even wider next? We just have to hold our breaths and wait it out!! Amen!!
No comments:
Post a Comment