Three Macau Casino Operators Approve Employee Bonuses
LISTEN TO THIS ARTICLE:Historically, most employees of Macau's casinos receive a bonus each year. The amount varies from company to company and from year to year, and three of the six casino operators have announced their bonuses for non-executive employees for 2024.
Showing Gratitude
Melco Resorts & Entertainment Limited has unveiled a comprehensive reward package for its non-executive employees. The company will distribute a one-month bonus to all Macau-based employees before Chinese New Year, which falls on February 1, 2024. This bonus will serve as a timely reward for their contributions during the festive season.
Related: Macau Enjoys Strong 2023 GGR Results of over 300% YoYAdditionally, Melco has pledged to increase the salaries of eligible Macau-based non-management employees by 2.5%, starting from April 1, 2024. This salary adjustment aligns with the company's commitment to recognizing and rewarding its workforce.
Wynn Macau has also demonstrated its appreciation for its employees by announcing a Special Allowance equal to one month's salary. This allowance will benefit a significant portion of the company's workforce, reaching 96.7% of its 11,180 employees.
Eligible employees at Wynn Macau and Wynn Palace will receive this bonus on January 31, 2024. Wynn's gesture underscores its commitment to fostering a culture of appreciation among its employees.
Galaxy Entertainment Group has also joined the trend of rewarding its employees with a generous bonus. The company will be distributing a one-month bonus to a majority of its workforce, with 98% of employees expected to benefit.
This bonus, also payable on January 31, 2024, will be granted to all eligible team members, meaning those at the Senior Manager grade and below. Galaxy's decision to extend this bonus to a significant portion of its workforce demonstrates its recognition of their contributions.
More Bonuses to Come
While Melco, Wynn, and Galaxy have unveiled their bonus plans, Las Vegas Sands' Asian arm Sands China, MGM Resort International's MGM China Holdings and SJM Resorts have yet to disclose their bonus arrangements. However, given the strong performance of the casino industry in 2023, it is anticipated that these companies will follow suit with similar bonus packages for their employees.
These bonuses, which range from a one-month salary to a special allowance, are a reflection of the strong performance of the casino industry in recent months. Following a period of decline due to the COVID-19 pandemic, the industry bounced back in 2023, driven by increased tourism and pent-up demand for gaming activities. This rebound has allowed casino operators to reward their employees for their resilience and contributions to the industry's recovery.
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