Macau casino operator MGM China Holdings Ltd on Friday announced what it described as “discretionary and … 14th-month special bonuses” for eligible non-management team members. The award of the two bonuses, each one equivalent to a month’s salary, was described as a way to recognise the efforts “of all eligible team members,” the firm said in a press release.
The release did not specify how many workers were eligible for the award, nor the aggregate amount involved.
According to the document, the discretionary bonus will be paid in two equal instalments during this month, while the “special bonus” – equivalent to a 14th-month salary – will be paid in July 2018.
“The past year has been a year full of new experiences and demands which we have conquered as a team,” said in a statement Grant Bowie, chief executive of MGM China. “These bonuses are our appreciation and recognition to our team members for their hard work, contribution and commitment to MGM,” he added.
MGM China’s announcement was made in the same week that a gaming labour protest demanded from the company a bonus payment for non-management staff equivalent to two-months’ salary.
Nearly 2,000 people participated in last week’s protest march, according to organiser local activist group Professional for Gaming of New Macau. The police estimated about 730 took part.
MGM China currently operates only one property in Macau – MGM Macau on the city’s peninsula – but is close to opening a second one – MGM Cotai – in the new casino zone of Cotai.
MGM China said late last month that the opening of the HKD27-billion (US$3.45-billion) MGM Cotai had been delayed to February. The firm had said previously that the property was scheduled to open on January 29, with a “grand opening” to take place on February 13. The exact new opening date has not yet been confirmed by the casino operator.
MGM China is the third Macau-based casino operator to publicly announce a bonus for its non-management staff this year.
Wynn Macau Ltd confirmed last month it would pay a bonus – equal to one month’s salary – to employees excluding senior management. Another Macau-based casino operator, Sands China Ltd, has also awarded its employees a bonus, as well as a salary increase to employees “of eligible grades” by an average of 2.5 percent to 5 percent.
Feb 16, 2018Due to the Chinese New Year holiday, the GGRAsia team will be off between February 16 and 19. We will be back on February 20. We wish all our readers a prosperous Year of the Dog!
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”A challenge to Macau's economic model could potentially emerge over the longer term should China revise existing criminal laws that prohibit most forms of gambling in the mainland... Even in such a scenario, Fitch would expect this to occur gradually”
Fitch Ratings Inc