Macau casino operator Galaxy Entertainment Group Ltd (GEG) announced on Friday a discretionary bonus for its eligible employees at senior manager grade and below.
The discretionary bonus would be equivalent to “one month of base salary” and “guaranteed tips” – if the latter were applicable, according to the firm’s press statement that day. This bonus would be paid to employees on January 23, 2020, Galaxy Entertainment said.
“Eligible team members who joined GEG between January 2 and October 3, 2019 will receive the discretionary bonus on a pro-rata basis,” the casino operator noted.
The firm also remarked in the Friday statement that it had delivered “overall satisfactory” results in 2019, despite facing a variety of “challenges” in the local market. The announcement of the Hong Kong-listed group’s fourth-quarter and full-year results is pending.
Rival casino operator Sociedade de Jogos de Macau SA – the Macau operations unit of Hong Kong-listed SJM Holdings Ltd – had confirmed to GGRAsia in late November the extension - for an additional three years, starting from 2020 – of its annual bonus scheme for eligible employees. SJM SA’s employees are to receive an annual bonus – referred to by the company as a yearly “living subsidy” – during the period spanning July 1, 2020 to June 26, 2022. The latter coincides with the expiry date for the firm’s Macau gaming rights.
In recent years, Macau operators have been awarding annual salary increases to their staff, with the announcements made at the beginning of the calendar year. Most operators have also been making supplementary payments to staff on a twice-yearly basis in recent times, on an ad hoc basis.
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”Our own consensus is that any newcomers to this [junket] sector should be corporatised, and should be financially sound and able to commit a higher guarantee deposit”
Kwok Chi Chung
President of junket trade body, the Macau Association of Gaming and Entertainment Promoters