Jul 01, 2020 Newsdesk Latest News, Macau, Top of the deck  
Sociedade de Jogos de Macau SA, the Macau operations unit of Hong Kong-listed casino firm SJM Holdings Ltd, has notified its employees that what it termed a “summer living subsidy” would be paid on Friday (July 3).
The firm’s internal memo was published on Tuesday on a social media account associated with local gaming labour activist Cloee Chao.
The SJM group had confirmed to GGRAsia in November that the firm had extended for an additional three years – starting from 2020 – its annual bonus scheme for eligible employees. According to the firm, employees were to receive an annual bonus – referred to by the company as a yearly “living subsidy” – from July 1, 2020 to June 26, 2022.
According to the company, eligible employees are entitled to a bonus equivalent to either one-and-a-half months of annual salary or two months of salary, depending on the worker concerned. Such payment is in two equal instalments, in January and July respectively.
SJM’s current flagship property in the Macau market is the Grand Lisboa casino hotel (pictured). The group is still to open its new property on Cotai, the HKD39-billion (US$5.0-billion) Grand Lisboa Palace. A number of investment analysts has suggested that the group’s long-awaited Cotai scheme might help in market share terms.
There is yet no official date for the opening of the Grand Lisboa Palace property, with investment analysts highlighting the likelihood of a first-half 2021 opening.
SJM Holdings posted a net loss of HKD409 million (US$52.8 million) in the first quarter this year, saying its operations had been “severely impacted by the Covid-19 outbreak”. The company is said to have requested relief from complying with financial covenants for a period of six quarters, on its HKD15 billion syndicated loan.
Jan 10, 2023
Jan 09, 2023
Jun 01, 2023
Jun 01, 2023
Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking its market approach in the land-based segment, in terms of manufacturing and sales, says Naoki Kameda (pictured, left), the firm’s...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”We’re interested [in entering Thailand], we’re looking… but it’s early days”
Robert Goldstein
Chairman and chief executive of casino operator Las Vegas Sands