Australia – It has been reported today that one of Australia’s largest gaming firms; Star Entertainment Group, has announced that it is laying off around 8000 employees amid the ongoing crisis of Covid-19.
The casino operator has temporarily stood down around ninety percent of its staff members across a number of properties in a bid to prevent the spread of coronavirus and preserve its liquidity.
The company stated:
“The Star has taken a very difficult, but necessary, decision in relation to its workforce… these stand downs include senior management.”
According to reports, Star Entertainment Group, which owns and operates three major Australian casinos and hotels; Treasury Casino & Hotel in Brisbane, The Star Gold Coast on the Gold Coast and The Star, Sydney, has said that it will be paying employees ‘pandemic leave’ for a period of two weeks, after which staff can use their annual leave allocation, long leave entitlements or take unpaid leave.
The firm, with its headquarters in Brisbane, has an estimated turnover of A$2.3 billion.
John O’Neill, chairman of The Star commented on the decision:
“This is a unique environment and one beyond our control in which we’re determined to balance the necessary measures needed to protect the business while considering the considerable human impact to our workforce.”
Star Entertainment Group is currently working on a mega-complex at Queens Wharf in Brisbane. Reportedly, the news could put the project at risk due to financial disruptions and risk factors based on balance sheet strength.