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Salaries slashed at James Packer's casino Crown Macau

12 January 2009

MACAO -- As reported by the Daily Telegraph: "James Packer's gamble on casinos has already cost him billions but the workers at his Macau investment are the latest to pay the price.

"Crown Macau staff have taken a haircut of up to 8 per cent on their wages after government officials gave Packer's consortium, Melco Crown Entertainment (MPEL), permission to slash their salaries, reports The Daily Telegraph.

"MPEL is moving to cut costs as the Macau casino industry continues to be hit hard by the economic downturn and a travel ruling (recently overturned) that slowed high-roller visits from mainland China.

"Crown Macau workers had previously agreed to other staffing options, including a shorter working week, unpaid leave and sabbaticals, in a bid to avoid large-scale axings..."

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