Macau casino operator MGM China Holdings Ltd announced on Wednesday a “one-time discretionary” bonus to be paid to its eligible non-management workforce. About 95 percent of the group’s employees will be entitled to such a payment, the firm said in a statement.
“The one-time discretionary allowance is equal to one month’s salary, and will be paid in two installments before and after 2022 Chinese New Year,” stated the casino firm.
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 Wednesday’s statement as saying that despite 2021 being “another year of adapting to changes,” the group’s employees “strive their best to ride out of the storm”.
She added: “The allowance is our appreciation and recognition to the relentless effort and hard work of our team members in the past year,” and would “encourage” the MGM brand’s Macau workforce to “sail together for our new chapter,” the “15th anniversary” of the operation. MGM Macau opened in December 2007.
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Vitaly Umansky, Louis Li and Shirley Yang
Analysts at Sanford C. Bernstein