Macau casino operator Wynn Macau Ltd announced on Friday that the company would pay what it termed a “winter bonus” to its non-senior management employees. The bonus is equivalent to “one month’s gross salary,” the firm said.
According to a press release, “more than 97 percent” of the firm’s 13,700 workforce employed at both properties Wynn Macau, on the peninsula, and Wynn Palace, in the city’s Cotai district, will be receiving the winter bonus.
“The bonus is being awarded to show the company’s appreciation to all team members for their hard work and commitment during the second half of 2019,” the casino operator stated.
In recent years, Macau operators have been awarding annual salary increases to their staff, with the announcements made at the beginning of the calendar year. Most operators have also been making supplementary payments to staff on a twice-yearly basis in recent times, on an ad hoc basis.
Casino operators Galaxy Entertainment Group Ltd and the Macau unit of SJM Holdings Ltd had also recently announced bonus awards for their eligible employees.
Galaxy Entertainment had said earlier this month that it would pay a discretionary bonus to eligible employees at senior manager grade and below. The bonus is equivalent to “one month of base salary” and “guaranteed tips” – if the latter were applicable. The bonus would be paid on January 23, 2020.
Sociedade de Jogos de Macau SA – the Macau operations unit of Hong Kong-listed SJM Holdings – had confirmed to GGRAsia in late November the extension - for an additional three years, starting from 2020 – of its annual bonus scheme for eligible employees.
Mar 05, 2021Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
Mar 05, 2021
Mar 05, 2021
“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"
Junling Tan, Yu Sheng Tay and Vikas Halan
Analysts at credit rating agency Moody’s Investors Service