GGRAsia – MPEL pays extra salary under summer bonus scheme

MPEL pays extra salary under summer bonus scheme

Aug 11, 2016 Newsdesk Latest News, Macau, Top of the deck

Asian casino developer and operator Melco Crown Entertainment Ltd (MPEL) on Thursday announced that at the end of July it had paid an additional one-month salary to eligible employees.

The payment – which the company terms as a “summer incentive” – was made under the previously announced “Employee Incentive Programme”, said Melco Crown in a press release. The firm did not say how many workers were eligible for the bonus.

Melco Crown’s programme allows the company’s eligible employees to choose either: a payment – made around summertime each year – of the equivalent of one month’s salary; or a one-off payment equivalent to six times of the relevant employee’s monthly salary. The company calls the latter option the “Golden Nest Egg”.

In Macau, the group developed and operates the casino resorts City of Dreams (pictured), Altira and Studio City.

“At Melco Crown Entertainment, we see our employees as the most valuable asset. I am delighted to learn that the majority have opted for the longer-term ‘Golden Nest Egg’,” said the firm’s chairman and chief executive, Lawrence Ho Yau Lung, adding that the payment had the potential greatly to enhance employees’ lives.

Melco Crown on August 4 reported a 27 percent increase in profit for the second quarter of 2016. The company posted net income of US$30.8 million for the three months to June 30, compared to US$24.3 million in the prior-year quarter.