Galaxy Entertainment Group Ltd became on Wednesday the fifth of Macau’s six casino operators to pledge some form of extra payment for the majority of its employees.
The firm announced in a press release a “one-off special payment equivalent to one month of salary” for “eligible team members at senior manager and below,” which it said would cover “around 98 percent” of staff.
It will be payable on February 10. Chinese New Year is on February 12.
The statement said the money was to “thank team members for their commitment” to the firm’s “plans for this year and beyond”.
Galaxy Entertainment is currently involved in creating a phase three for its flagship Cotai resort, Galaxy Macau, which is due to be completed this year.
Francis Lui Yiu Tung, vice chairman of the group, was quoted as saying in Wednesday’s announcement on the one-off payment: “Our expansion from 2021 and beyond will create tremendous opportunities to team members.”
He added: “Delivering this will have its challenges and difficulties at times, but working hard as a team and differentiating ourselves” in the market would be “rewarding.”
The firm went on to say that although the local authorities had done an “excellent” job in keeping Covid-19 out of the city – in a Monday announcement the Macau government said there had not been a new case in the city for 206 days – the pandemic had brought “unprecedented challenges” to Galaxy Entertainment’s business.
The casino group added: “… although the near-term outlook is still full of uncertainties, the company’s determination” to achieve “continuous growth and development during such difficult times remains unwavering”.
The firm further noted: “Galaxy Entertainment hopes to receive team members’ full collaboration and support of its Cotai Phases 3 and 4 projects, which Galaxy Entertainment believes, will assist the company in maintaining competitiveness for the long term.”
In early January, Sociedade de Jogos de Macau SA, the Macau operations unit of Hong Kong-listed casino firm SJM Holdings Ltd, said it would be giving its eligible employees what it termed “living subsidies” equivalent to “two months or 1.5 months” of salary.
On Monday, Wynn Macau Ltd and Melco Resorts and Entertainment Ltd said respectively they would give their staff extra payments.
The news was made public soon after MGM China Holdings Ltd had said also on Monday it would also be giving special pay to eligible workers.
Feb 26, 2021Lawrence Ho Yau Lung, chairman and chief executive of casino operator Melco Resorts and Entertainment Ltd, says Macau’s casino sector could start showing recovery signs in “mid-to-late...
Feb 26, 2021
Adjusted EBITDA reported by Macau casino operator Galaxy Entertainment for the fourth quarter of 2020