• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Melco Resorts says it will join Macau’s pension scheme

May 09, 2019 Newsdesk Latest News, Macau, Top of the deck  


Melco Resorts says it will join Macau’s pension scheme

Operator of Asian casinos Melco Resorts and Entertainment Ltd says it is joining the voluntary, government-run pension scheme in Macau. In a written announcement issued on Wednesday, the company said it would join the Macau Non-mandatory Central Provident Fund System in July.

This will give Macau people that Melco Resorts employs from July 1 onwards the option to enrol in the scheme. Before July 1, local employees – that have already signed up for one of the company pension fund plans – will have a choice between transferring to the government-run pension scheme or sticking with their company pension fund plan.

The Macau Non-Mandatory Central Provident Fund System is meant to give Macau people an income in their old age, complementing other provisions of the social security system.

“Our colleagues are integral to the company’s achievements, and we are pleased to support the Macau SAR Government’s Non-Mandatory Central Provident Fund for our Macau resident employees,” said Melco Resorts chairman and chief executive Lawrence Ho Yau Lung.

Melco Resorts said it will tell its employees what they need to know to make an informed choice. In Macau, the company operates Altira Macau (pictured), Studio City and City of Dreams, as well as the Mocha Club electronic gaming machine venues.

The Macau government has been urging employers in the city to join the state pension scheme.

Employees of companies that belong to the Macau Non-mandatory Central Provident Fund System must pay at least 5 percent of their basic salaries into the fund each month, and their employers must pay in matching sums.

In April, Macau casino operator Wynn Macau Ltd announced that it was joining the government-run pension scheme on July 1.

Macau casino operators SJM Holdings Ltd and MGM China Holdings Ltd are also joining the government’s voluntary pension scheme for local employees, as part of the conditions for the extension of their respective gaming rights to June 26, 2022.


  • tweet
Related articles
  • CoD Mediterranean construction facing delays: Lawrence Ho
    CoD Mediterranean construction facing...

    May 06, 2022  

  • Melco Resorts 1Q EBITDA of US$56mln, narrows loss
    Melco Resorts 1Q EBITDA of US$56mln,...

    May 06, 2022  

More news
  • Foreign tourists can get S.Korean peninsula visa from June 1
    Foreign tourists can get S.Korean...

    May 20, 2022  

  • Crown Resorts’ shareholders nod Blackstone bid
    Crown Resorts’ shareholders nod...

    May 20, 2022  


Latest News

Foreign tourists can get S.Korean peninsula visa from June 1

Foreign tourists can get S.Korean peninsula visa from June 1

May 20, 2022  

South Korea on Thursday said it would from June 1 resume issuing short-term tourism visas for trips to the country’s mainland, for individual visitors and groups of tourists. Permits for...
Read More
Crown Resorts’ shareholders nod Blackstone bid

Crown Resorts’ shareholders nod Blackstone bid

May 20, 2022  

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

May 20, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”[Revenue at Okada Manila] will be around 80 percent of the pre-pandemic level in 2022 before recovering almost fully in 2023"

Satoru Aoyama, Akash Gupta and Kalai Pillay

Analysts at credit rating agency Fitch



Most Popular

  • Andrew Lo takes controlling stake in Suncity, Summit AscentAndrew Lo takes controlling stake in Suncity, Summit Ascent May 19, 2022
  • Melco to launch family attraction at Studio City in JuneMelco to launch family attraction at Studio City in June May 19, 2022
  • Bloomberry plans 3rd Philippine casino, coastal near ManilaBloomberry plans 3rd Philippine casino, coastal near Manila May 19, 2022
  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us