Macau casino operator Sands China will pay bonuses and increase salaries for its employees
The bonus will be awarded to non-managerial staff who have been with the company for at least one year. Members of the management team will receive discretionary bonuses based on the company's executive incentive plan.
According to Sands China, employees who have been with the company for less than a year will receive prorated bonuses. This applies to those who were hired before October 1 of last year and are still employed at the time of the payout.
The company also announced a salary increase for the majority of its workforce, effective March 1, 2024. Out of 26,000 employees, 99% are eligible for the raise. For those earning less than 13,000 patacas (approximately $1,600) before taxes, the increase will be 600 patacas (about $75), representing a rise of 4.7% to 5.4%. Employees earning more than 13,000 patacas will see a 2.5% increase. Both adjustments apply to full-time staff.
Wilfred Wong In Wai, president of Sands China, commented on the bonuses, stating, "The resilience and team spirit of our members have not only helped us navigate the challenges of recent years but have also ushered us into a period of rejuvenation. As tourism in Macau has resumed post-pandemic, it has been the collective efforts of our employees that have smoothly returned our business to full capacity, breathing life back into our spaces."
Sands China is the second of the six city casino operators to publicly announce employee bonuses this year, following MGM China Holdings Ltd, which previously revealed a discretionary bonus equivalent to one month's salary to be paid during the Chinese New Year.
In related news, the Netherlands has introduced new player protection measures for the gambling industry.
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