A source familiar with the situation has today told IAG that Million Dragon Hotel, part of Chan Meng Kam’s Golden Dragon Group, has been terminating employee contracts, saying its business structure will be “adjusted.”
The text of a termination letter seen by IAG reads, “In the absence of any likely future business prospects, the business structure of our company will be adjusted” and advises employees their “last date of employment will be 26 June 2022.” The termination notice has the Million Dragon logo on the letterhead.
IAG has been told that, “one after another, employees have received dismissal notices – mainly casino hosts.”
Internal communications are said to have explained that “the hotel will not continue to operate a gaming business after June 26” and that “its gaming business will be transferred to the Concessionaire – SJM – to take over operations until December 31.” IAG understands this to mean that the gaming tables will be transferred back to SJM, to be available for deployment elsewhere by the concessionaire.
Two other group hotels – Golden Dragon Hotel and Royal Dragon Hotel – are also said to be intending to end their gaming operations on June 26 and “return those operations to SJM.”
IAG has approached Million Dragon Hotel, asking for confirmation of the staff terminations or any other comment, and is awaiting a reply.
Macau peninsula property Grand Emperor, which also operates a satellite casino, announced in early April that it would no longer engage casino operations after June 26.
The Macau government has relaxed satellite casino regulations set to apply under the new Macau Gaming Law, allowing existing satellite casinos to continue operating beyond the previously proposed three-year grace period after the new Macau gaming law becomes effective, but only as management companies – eliminating the prior revenue sharing model.
