Macau casino operator Galaxy Entertainment Group Ltd (SEHK: 00027) reportedly announced on Friday that on Feb. 13 prior to the Chinese New Year holiday the company’s eligible employees at senior manager grade and below would receive a discretionary bonus equal to one month of salary.
GGRAsia reports that the Friday announcement read that employees who joined the Hong Kong-listed firm between Jan. 2, 2017 and Oct. 3, 2017 will reportedly receive the bonus on a pro-rata basis per the total number of service days accrued.
“With the development projects of [Galaxy Macau] Phase 3 and 4, Galaxy Entertainment looks forward to team members’ continued dedication, focus and commitment in delivering ‘Asian Heart’ services and products, improving operational efficiencies, and strengthening collaboration that will set Galaxy Entertainment firmly for greater success in the years ahead,” Galaxy Entertainment reportedly wrote in the announcement Friday.
The company’s statement has also reportedly cited a pledge that in order to improve the well-being of its employees it would “increase communications” with them.
According to GGRAsia, when representatives of Galaxy Entertainment were approached regarding whether or not the firm planned to additionally award its workers a raise in salary for this year, the company said, “The 2018 annual salary review will be communicated separately soon.”
Galaxy Entertainment’s latest announced bonus payment is reportedly in addition to the company’s special “annual discretionary bonus” that was announced in September. The first part of the special bonus was to be received by eligible employees along with their Sept. 2017 salary, with the remaining part to be part this month in advance of the Chinese New Year, the company said at the time of the announcement last September.
Galaxy Entertainment is the fifth of the autonomous region’s six casino licensees having announced a bonus payment for their employees.
Macau market rivals SJM Holdings, Wynn Macau Ltd, Sands China Ltd and MGM China Holdings Ltd have all announced publically their respective plans for bonus payments for their employees in 2018.
SJM Holdings Executive Director Angela Leong On Kei told reporters on Jan. 2 that its employees had already been awarded a bonus for 2018, which the firm referred to as a “living subsidy.”
Meanwhile, a Thursday press release by Wynn Macau Ltd stated that with the exception of senior management, effective March 1 all eligible employees, which is reportedly nearly 98% of its workforce of 13,100, will receive a salary increase.
Last month, the Macau-headquartered company announced that it intended to reward all of its eligible non-executive employees with a ‘winter bonus’ worth up to one month’s gross earnings. The company’s press release on Thursday reportedly noted that the aforementioned annual bonus had been given to employees “in advance of the Chinese New Year Holiday”.