Aquis Entertainment stands down 90% of staff

Australia’s Aquis Entertainment said it was standing down 90 percent of its staff and executives are taking a pay cut after the closure of its Casino Canberra property as a result of the coronavirus.

The company said it has already laid off 190 of its 235 personnel. Only staff essential to maintenance of the property and security remain in a reduced capacity. There will also be staff to maintain the company's payroll, it said in a statement to the Australian Stock Exchange.

Aquis says the executive team have taken pay cuts of 48 percent and CEO Allison Gallaugher will take a 50 percent reduction, saving the company $150,000.

“Allison and her team are doing a great job,” said Chairman Tony Fung. “This situation we are facing is unprecedented and we need to make tough decisions in order to ensure we can steer through and survive the crisis.”

Casino Canberra closed on March 23 to help curtail the spread of Covid-19. Other properties across Australia are also closed and Star Entertainment has detailed similar plans to stand down 90 percent of its staff.

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