Macau casino investor Sands China Ltd said it would pay its staff “a special award” bonus this month. The company is paying the equivalent of one month’s salary to more than 27,000 full time employees at “manager grade and below”.
“The award will be immediately paid at the end of this month together with the July payroll,” the operator said in a statement on Thursday.
The company said the “special award” would also apply as a supplement to the July payroll in 2015, 2016 and 2017.
Sands China had 28,237 team members as of December 31, 2013, according to the firm’s annual report.
“…we would like to thank our team members for their dedication, contribution and support to the company,” Edward Tracy, chief executive of Sands China, said in the statement. “Sands China will continue to explore more creative ways to reward our team members and develop opportunities to help them keep growing with the company by offering the best training and career development programmes.”
On February 3, Sands China paid its staff a bonus. At the time it didn’t mention how much or how many would get it. The company also announced in February a five percent increase for its employees in 2014.
Sands’ market rival SJM Holdings Ltd also announced a salary increase of five percent for all full-time employees this year. Another operator, Wynn Macau Ltd, offered 1,000 shares to 7,500 of its employees. The Limited Employee Ownership Scheme was formally adopted on June 30, Wynn Macau confirmed in a filing to the Hong Kong Stock Exchange.
(Updated at 11.20am)
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”I do not believe that this event [the collapse of a under-construction building in Sihanoukville] will slow down the issuance of [gaming] licences. Market forces will probably dictate the process as developers evaluate projected future demand for gaming in the region”
Senior partner at business consultancy Global Market Advisors