Macau casino operator Wynn Macau Ltd on Thursday announced a salary increase for all eligible employees, excluding the company’s senior management. The pay rise is effective from March 1 and covers nearly 98 percent of the company’s 13,100 workforce, the firm said in a press release.
Eligible employees earning a maximum of MOP16,000 (US$1,974) per month will receive a pay increase of MOP600 per month, equivalent to an increment of between 3.8 percent and 7.2 percent, said Wynn Macau Ltd. Employees earning a monthly salary above MOP16,000 will receive an average of a 2.5 percent increase, the firm added.
Wynn Macau Ltd currently operates two properties in the Macau market, namely the Wynn Macau property (pictured) on the city’s peninsula and the Wynn Palace gaming resort in the city’s Cotai district.
The casino operator announced in January that the company was paying what it termed a “winter bonus” – equal to one month’s gross salary – to all eligible employees, excluding senior management. The Thursday release noted that this annual bonus had already been given to employees “in advance of the Chinese New Year Holiday”.
Wynn Macau Ltd announced on Wednesday several changes to its management after chairman and chief executive Steve Wynn resigned from the gaming group in the wake of sexual misconduct allegations. The share price of the Hong Kong-listed company jumped 8 percent on Thursday, following the announcement.
Wynn Macau Ltd is the second Macau casino operator to have publicly announced a salary increase for its employees this year. Macau market rival Sands China Ltd announced in late January a salary increase to employees “of eligible grades” by an average of 2.5 percent to 5 percent, as well as a discretionary bonus, with effect from March 1.
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“We see that basically the ‘golden’ periods [for Macau's casino industry] are all concentrated in the second half of this year”
Lei Wai Nong
Macau’s Secretary for Economy and Finance