Hong Kong-listed, Melco Resorts and Entertainment Ltd. (MLCO:NASDAQ GS), announced on Friday that a benefits program review for the company’s non-management employees in Macau has been completed and as such it will launch a new pension fund and an employee bonus program.
According to the company’s official press release (pdf)…
The review has been ongoing since the beginning of the year and included gathering feedback from the company’s employees via regular focus groups and various direct channels, which have been operating since their May 2014 implementation.
Employee contribution match:
The developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia, has reportedly held 144 communication sessions since January this year alone. The communication sessions are in addition to semiannual global surveys which have been taken by table games employees since May 2012. The Hong Kong-headquartered company has also been in close contact with appropriate Macau SAR government departments.
The company’s new pension fund plan will match employee contributions up to 5 percent of base salary and, if applicable, any guaranteed tips. Eligible Macau non-management staff will also receive a one-time “special gift” of a month’s salary upon completion of the “process related to their participation in the new pension fund, subject to further applicable terms and conditions.”
“This will be implemented in the coming months and payment of the one-time special gift to eligible employees, if applicable, is expected to be made on or about the end of October 2018,” according to the press release.
Benefits package additions:
Other employee benefits were also announced as part of the review, including but not limited to:
- Enhanced employee discounts
- A new sick-leave policy to be trialed for one year
- Perfect attendance recognition
- Service award recognition programs honoring employees with 10-plus years of service
The company said in a statement…
“We are very pleased to announce this benefits program for our Macau non-management employees. This review has been open and directly communicated to our employees by our senior management. We are extremely proud of all of our colleagues’ hard work and dedication, without whom our achievements and success would not be possible. We are also very grateful for our teams’ unlimited efforts. Looking to the future, we will continue our team work to ensure that Melco is one of the best places to work in Macau and around the world.”
Looking to tap into the exploding eSports market, in July this year Melco announced it had partnered with Kowloon E-Stadium Ltd and ALL-IN E-Sports Ltd for the opening of its first eSports venue, Macau Estadium, located at the company’s Studio City integrated resort.
This on the heels of the company partnering with Singapore-based consumer Internet platform Garena in April for the eSports 2018 League of Legends Master Series (LMS) Spring Final, which took place at Studio City before a live audience of more than 2,000 people.