GGRAsia – Melco Crown announces one-month bonus to staff

Melco Crown announces one-month bonus to staff

Jan 18, 2017 Newsdesk Latest News, Macau, Top of the deck

Casino developer and operator Melco Crown Entertainment Ltd on Tuesday announced a “one-month discretionary bonus” for its non-management staff. Melco Crown is the fourth of Macau’s six casino operators publicly to announce a bonus for staff this year.

“The bonus will be paid out before the Chinese New Year,” the company said in a press release. The firm did not specify how many workers were eligible for the payment, nor the aggregate amount involved.

“Through the continuous support and dedication from all of our colleagues, the company has accomplished many good results in 2016,” said in a statement Lawrence Ho Yau Lung, chairman and chief executive of Melco Crown.

“With the refined management structure, more efficient operations and the innovative, best-in-class hospitality offers in our three properties in Macau, I am confident 2017 will be another promising year for the company as well as for our colleagues,” he added.

Melco Crown has been going through a major reorganisation over the last two months. Long-standing investment partner, Australian casino operator Crown Resorts Ltd, has significantly reduced its stake in Melco Crown. There have also been a series of high-profile departures and arrivals in Melco Crown’s senior management.

The company announced last week a new quarterly dividend policy, starting with a special dividend amounting to approximately US$650 million to be paid to shareholders on or about February 10.

Melco Crown’s Tuesday announcement of a bonus to staff was made on the same day as MGM China Holdings Ltd said it would be awarding a “discretionary bonus” for eligible non-management team members.