GGRAsia – MGM China to pay 97pct of staff discretionary bonus

MGM China to pay 97pct of staff discretionary bonus

Jan 09, 2023 Newsdesk Latest News, Macau, Top of the deck

Macau casino operator MGM China Holdings Ltd announced on Monday a “one-time discretionary allowance” to be paid to its eligible non-management workforce. About 97 percent of the group’s employees will be entitled to such a payment, the firm said in a statement.

“The one-time discretionary allowance, equal to one month’s salary … will be paid around Chinese New Year of 2023,” stated the casino firm. The Chinese New Year starts on January 22.

The company said the bonus was “an appreciation to the relentless effort and hard work” of the group’s employees in the past year.

MGM China is 56-percent owned by United States-based casino operator MGM Resorts International. MGM China runs the MGM Macau resort on the city’s peninsula, and MGM Cotai in Macau’s Cotai district.

Pansy Ho Chiu King, co-chairperson and executive director of MGM China, was quoted in Monday’s statement as saying that 2023 marked “a grand start for MGM’s new journey”.

In mid-December, MGM China and the other five incumbent operators signed new, 10-year gaming concession contracts with the Macau government, following a public tender.

“We are thrilled to see the swift recovery of the city’s tourism industry after the lifting of border restrictions,” Ms Ho said in her prepared remarks. “MGM is ready to embrace the new opportunities ahead and will continue to take practical actions in promoting the economicdiversification of Macau,” she added.

Macau saw a total of 39,643 visitor arrivals on Sunday (January 8), coinciding with Macau’s decision to cancel with effect from that day most of its travel restrictions related to the Covid-19 pandemic, dropping all testing requirements for inbound travellers from mainland China, Hong Kong and Taiwan.