More than 23,000 eligible full-time workers of Macau casino operator Sands China Ltd will receive a “discretionary allowance” from the operator. The allowance amounting to one month’s salary will be paid on January 18.
According to the press release, one of the six major concessionaires in Macau said that the bonus is to be paid “in gratitude of team members’ dedication and contributions in 2022”. The company added that almost all of its employees will benefit from either a discretionary allowance payment or the company’s sales incentive scheme. Sands did not reveal more information about the total sum it will pay to provide such benefits and incentives.
Sands China’s president, Wilfred Wong Ying Wai, said that the company had been “supporting Macau in any way we can through good times and difficult times,” and had been “dedicated to driving economic diversification and fulfilling our corporate responsibility to give back to the community”.
Market recovery benefits:
In the message to Sands’ employees, Wai also addressed the policy goal of China’s central government and the local authorities to extend Macau’s economic interest beyond gambling and tourism. As these goals have been compromised in the COVID-19 circumstances forcing casino closures and reduced sales and revenue figures, Sands China reported a wider loss in the third quarter as compared to the April to June period.
Still, the operator achieved a slight revenue rebound since to benefit from modest market recovery under China‘s recently suspended ‘zero-Covid’ policy.
New concession benefits:
In December, Sands China was confirmed as a winner of a new 10-year casino gaming concession together with the other five Macau concessionaires. The company runs Sands Macao on the city’s peninsula, and a collection of casino resorts in the famous Cotai Strip, with the latest concessions allowing the operator to run the leading number of casino tables and games among Macau operators. The new concession will help the company boost its operations to remain eligible to provide bonus payments and sales incentives to its staff in the future as well.
Maintaining staff loyalty:
All Macau operators, irrespective of their actual economic performance have provided extra payments to staff either at calendar New Year or Chinese New Year for years. Macau authorities distribute concessions among the six leading operators from time to time to keep the total gaming tax revenue always the same. The operators are thus enabled to pay ”discretionary allowances” to their full-time employees regardless of their financial performance to maintain the loyalty of their full-time staff for years.