Genting Malaysia Bhd Is Closing Another Property In The UK

Article by : Helen Jan 29, 2021

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A subsidiary of Genting Malaysia Bhd (GenM), Genting U.K. is one of the largest gambling operators in the United Kingdom. It has faced some serious problems that are the consequence of the Covid-19 virus. The properties in Torquay, Bristol, and Margate have been closed since summer 2020. It resulted in the separation of staff in Glasgow, London, Blackpool, Edinburgh, and Birmingham. In notes sent to its staff, the company blamed the “impact of Covid-19 resulting in the temporary closure of business and reduced trading hours and changes to operating model”.

A GMB union national officer, Mick Rix, earlier claimed: “It’s a serious slap in the face to loyal and long-serving staff – as well as the UK public. Taxpayers’ cash has funded Genting to the tune of millions of pounds during a lockdown: now they are making people redundant rather than contribute towards the government furlough scheme from the end of August.” Genting Casino Southport in England is one more property that is going to be closed because of issues provoked by the Coronavirus, meaning 38 workers will be fired.

Many industries across the world have faced issues once the Covid-19 appeared, and the gambling industry is one of those that suffered the most. Far not every casino operator has been able to survive under such harsh conditions, especially those operating in the UK. Two other Coronavirus stamps were recorded in the UK, forcing it to go back to lockdown several times. More than 3 million confirmed Coronavirus cases have been reported, and around 80,000 have died since the virus appeared in the UK.

A GenM spokesperson commented on the closure in the following way: “We can confirm that we have started a consultation process with all of our staff at Genting Casino Southport, with 38 employees being put at risk of redundancy. As we all know, the coronavirus pandemic has created unprecedented challenges right across the leisure industry, and whilst we have worked tirelessly over the past ten months to sustain the business as best as possible, permanent club closures have, unfortunately, been simply unavoidable. We know what difficult news this will be for all of our hard-working colleagues in Southport and will do everything we can to support them at this challenging time.”

GenM is a large company that holds 43 licenses in the UK. Before the pandemic appeared, 42 GenM casinos had been operating in the country. It also has gentingcasino.com and gentingbet.com, online gaming platforms, and two hotels.

The gambling industry in the UK is experiencing hard times, and the global pandemic is not a single reason for this. Gambling operators might lose their potential earnings as far as the country’s regulators are starting to implement stricter rules. Some types of operators’ offerings are going to be controlled very closely. In addition, lots of issues occur against the backdrop of Brexit, and not only gambling operators but the whole country hasn’t figured out yet how things will stand after the UK steps away from the EU.

In the light of the recent events, GenM fell 0.40% to 2.46 Yuan for a market capitalization. However, Genting Bhd increased by 0.47% to 4.29 Yuan.

GenM is one of those companies that care about its employees even if they were laid off. So, it stated in the announcement about the closure the following: “We can support them at this challenging time.”

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