Apr 13, 2020 Newsdesk Latest News, Philippines, Top of the deck
The promoter of the Okada Manila casino resort (pictured in a file photo) in the Philippine capital says it will this month give staff half of their mandatory 13th month pay. The amount is to be settled by no later than April 30, it said.
“To help you financially during these hard times, Okada Manila will… release half of your 13th month pay no later than April 30,” said Okada Manila president Takashi Oya in a letter sent to the company’s employees. The document was viewed by GGRAsia.
He added: “Another means of support you can look to is [the human resources department]’s initiative of connecting team members with other financial aid programmes.”
The Philippine authorities have extended the anti-coronavirus lockdown of the country’s main island Luzon until April 30, according to a government statement last week. A representative from Okada Manila confirmed to GGRAsia that the property would remain closed during that period. Casinos in the Philippines have been subject to a business pause since mid-March.
Labour regulations in the Philippines mandate employers grant 13th month pay to all its “rank-and-file employees”. All employees “not considered managerial employees are considered rank-and-file employees,” according to information available on the website of the Bureau of Working Conditions of the Department of Labor and Employment of the Philippines.
The agency states that “the 13th month pay shall not be less than one twelfth of the total basic salary earned by an employee within a calendar year.” Such benefit “should be paid not later than December 24 of each year”. An employer can however split the benefit into two payments.
The Okada Manila venue is operated by Tiger Resort, Leisure and Entertainment Inc. The latter is a subsidiary of Japanese conglomerate Universal Entertainment Corp.
In his message to the company’s employees, the president of Okada Manila said: “Okada Manila and Universal Entertainment have taken the needed steps to ensure that during the extended community quarantine, you will be compensated while also having your benefits in effect. In order to make this possible, a number of Okada Manila senior executives have volunteered to take pay cuts in order to add to the workforce fund.”
Mr Oya did not elaborate on the pay cuts accepted by Okada Manila’s management.
“Finally, I would like to assure you that your jobs will be here once we all go back to Okada Manila,” he added in his message to staff.
Okada Manila’s aggregate revenue for February – the latest available data – rose 36.4 percent from the prior-year period, to PHP3.47 billion (US$68.6 million). February’s adjusted segment earnings before interest, taxation, depreciation and amortisation (EBITDA) rose 48.5 percent year-on-year, to PHP536 million. Adjusted EBITDA was however down 31.4 percent sequentially.
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