Macau junket investor Meg-Star Group announced on Wednesday a 5-percent salary increase for eligible staff members, with effect from March 1. Nearly 98 percent of Meg-Star’s current workforce are said to qualify for the pay hike, which excludes the firm’s senior management, the brand said in a press release.
Meg-Star noted additionally that it paid a one-time bonus to all eligible employees before the Chinese New Year holiday, which this year feel on February 4. The firm said the bonus was in appreciation for its staff’s “hard work and dedication to providing quality services”.
The company stated in a January press release that it would set up a provident fund scheme for eligible employees, also effective March 1. The move was in order to “provide basic retirement protection for on-the-job employees,” said the firm. In October, when the company opened a VIP room at the Venetian Macao, it said the group had 1,300 employees worldwide.
Several Macau casino operators have recently publicly announced 2019 pay hikes for staff outside the senior management tier.
Meg-Star has been expanding its presence in the Macau market. The Venetian Macao facility was its eighth VIP club in the city. The high-roller brand said at the time that launch signified its “vigorous expansion in Macau,” and described its business as “thriving”.
Meg-Star’s corporate website stated the group had “successfully entered Macau’s major resort hotels, and has expanded its international business”, including to Vietnam, the Philippines, South Korea, Australia and the United States.
In February 2018 Meg-Star announced a branding revamp, so that the corporate identity – originally Meg-Star International – changed to Meg-Star Group. Its management said this was to reflect the diversified nature of its business, including investments in real estate and food and drink operations.
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“We expect Las Vegas Sands to not have any material change in strategy. The focus remains developing Macau and Singapore”
Vitaly Umansky, Kelsey Zhu and Tianjiao Yu
Analysts at brokerage Sanford C. Bernstein