The Macao Gaming Company and former STDM employees reached an understanding with the help of the Government and the Macao Labor Association.

A memorandum was signed between the Labor and Employment Affairs Bureau, SJM (Sociedade de Jogos de Macau, S.A.), the STDM Worker's Association and the Macao Labor Association.

The Director of the Labor and Employment Affairs Bureau, Shuen Ka Hung, emphasized that after a thorough study from different points of view, the workers and SJM had resolved the contract dispute.

According to the memorandum, SJM agreed to set up a pension scheme for employees before June 2003. Meanwhile, senior employees who wished to retire would be compensated in addition to receiving the pension stipulated by the Labor Law.

SJM also agreed to be more flexible regarding the employees to be recruited by the other two gaming companies before the expiration of the contract.

Meanwhile, if significant decreases were noticed in the tips received after a period of six months, SJM would negotiate new terms with the employees with the help of the Government and the Macao Labor Association.

Mr. Shuen said that the government and the Macao Labor Association would guarantee the implementation of the memorandum.