Galaxy Entertainment Group Ltd says it is to give a “special” pay award this summer to its employees, and that it will be equivalent to one month of “base salary” and “guaranteed tips”, if applicable. The firm is the fourth Macau operator to say it will give what is known locally as a “summer bonus”.
Such a seasonal award is in most cases a discretionary gesture by the local casino firms, although gaming labour groups in the city have become accustomed to their members getting one, and grumble if they fear operators might discontinue the practice.
Galaxy Entertainment made its announcement on Thursday, referring to a “special discretionary payment”, due on August 30 to employees that joined the firm on or before June 3, this year. Employees that started with the group between September 30, 2018 and prior to June 3 this year, are to be paid on a pro-rata basis, according to the announcement.
The payment will go to employees at “senior manager” grade or below, which accounted for “99 percent” of the firm’s employees outside the upper executive level, Galaxy Entertainment said in its Thursday announcement.
Earlier this week, Sands China Ltd announced it was to pay on August 30 what it described as a “one-time special award” to eligible full-time workers.
Rival casino firms SJM Holdings Ltd and Wynn Macau Ltd said last week they would also pay a “special bonus” to their respective eligible staff.
May 16, 2022Macau’s Court of Final Appeal announced on Monday sentences in relation to a total of nine cases concerning debt claims involving junket operators based at local casinos. In all the cases, the...
”Any reduction in [Macau gaming] tax would be positive for future profits and cash flows, all else equal”
DS Kim, Amanda Cheng and Livy Lyu
Analysts at brokerage JP Morgan Securities (Asia Pacific)