Macau-based casino operator Wynn Macau Ltd reaffirmed on Friday that the company would pay a “summer bonus” equal to one month’s gross salary to nearly 9,000 eligible employees – excluding senior management – on July 15.
Wynn Macau has only one property currently in operation – Wynn Macau hotel casino. The firm is developing a new casino resort in Macau’s Cotai district, to be named Wynn Palace (pictured).
“Despite ongoing challenges faced by the [casino] industry, this bonus is being awarded as the company looks forward to the opening of Wynn Palace on August 22 and to celebrating Wynn Macau’s 10th anniversary on September 6,” the casino operator said in a press release.
The summer bonus is part of a scheme first announced by Wynn Macau in March 2014.
Under the programme, employees receive a guaranteed annual bonus equating to two months’ salary, including their 13th month bonus paid in January and another bonus given in July.
The bonus programme will continue until 2017, according to the 2014 announcement.
Wynn Palace will have a 1,700-room hotel, a large lake with fountain display and a gondola ride around the grounds, meeting space, a casino, a spa, shops, and food and drink outlets.
The Macau government has not yet indicated the number of new-to-market gaming tables that will be granted to Wynn Palace.
The two big new Cotai resorts that opened last year each received the same size of table allocation – 250 new-to-market units.
Studio City, a US$3.2-billion Cotai gaming resort majority-owned by Melco Crown Entertainment Ltd, had made a great play of its non-gaming facilities in the run-up to its opening on October 27 as an argument for receiving at least 400 tables. In the end it got the same allocation as the HKD19.6-billion (US$2.5 billion) Galaxy Macau Phase 2 which opened in May 2015. The latter is an extension of Galaxy Macau, a resort developed by Galaxy Entertainment Group Ltd.
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”We do not believe that reopening the advance notice nomination deadline [for board directors] is appropriate or justified”
Daniel Boone Wayson
Chairman of the Wynn Resorts board of directors