GGRAsia – Sands China announces salary increase, bonus to staff

Sands China announces salary increase, bonus to staff

Jan 26, 2017 Newsdesk Latest News, Macau, Top of the deck

Macau casino operator Sands China Ltd announced on Thursday a salary increase and a special bonus for eligible staff. The firm was the last of the Macau casino operators to announce a staff bonus for 2017 but it was the first to publicly announce a pay rise this year.

Sands China said in a press release it would increase salaries of all eligible full-time employees by an average of 2 percent to 6 percent, effective March 1. A company source said the pay rise would cover nearly all of the firm’s workforce, currently standing at approximately 28,000 employees.

Eligible full-time employees earning up to MOP12,000 (US$1,500) per month will receive a pay increase of MOP600 per month, it stated. The casino operator said it represented an increase of at least 5 percent for workers in that wage bracket.

The firm’s eligible employees earning more than MOP12,000 per month will receive an average increment of between 2 percent to 2.5 percent, Sands China said.

The company stated that among its nearly 28,000 eligible employees, the ones that had completed at least one full year of service would receive a discretionary bonus equivalent to “at least one month’s salary” on Friday.

In addition, Sands China said it would again distribute a “special award” in July to eligible full-time team members, equivalent to one month’s salary.

“Although faced with a challenging and competitive business environment, Sands China offered a salary increase last year,” Wilfred Wong Ying Wai, president of Sands China, said in a statement included in the firm’s press release.

He added: “This year, we would like to share the successes of 2016 by offering a salary increment and bonus for eligible team members to express our gratitude for their teamwork and dedication to the company.”

Parent Las Vegas Sands Corp announced on Wednesday that total net revenues for Sands China increased by 12.0 percent to US$1.86 billion in the fourth quarter of 2016. Net income for Sands China decreased by 7.9 percent to US$348 million in the period.