SJM joins competition in announcing pay raises

TAGs: Macau, SJM Holdings

Since the beginning of the year, a number of casino operators on Macau have announced pay raises for employees. On Monday, SJM Holdings Ltd announced that they would be doing so as well, announcing that they would be providing a raise of between 2.5% and 8.3% to employees.

SJM joins competition in announcing pay raisesWhile the statement did not specify how many employees would be receiving a pay increase, it is expected that all non-executive staff members will be included. Those employees who are earning a monthly salary at or below MOP16,000 were expected to see an increase of anywhere from 3.7% up to as much as 8.3%. Those earning more than MOP16,000 would fall on the lower end of the percentage increase.

This is not the only announcement provided by SJM. In addition, the company announced that the local government had extended gaming concessions for SJM that were set to expire at the end of 2020. The extension allowed them to continue operations until June 2022.

SJM also announced that their new Cotai casino would provide as many as 8000 jobs upon its completion. No specific date was provided of exactly when the casino would open, but the Grand Lisboa Palace is expected to be completed in the first half of this year. The construction work on the project appears to be on time, so there could be a summer opening.

It was reported at the beginning of February that Melco Resorts and Entertainment had offered a winter bonus to non-executive employees. This was the first casino operator in the area to offer such a bonus, but it did not end there. In addition, Melco announced that they would be providing a 2.5% to 7.5% raise to all of their non-executive employees that was to take effect on April 1.

This made Melco the second operator to announce pay raises. Early in January, Sands China had confirmed that they would be offering raises that would take effect on March 1. Later, Sands would add that there would be certain employees who would be receiving winter bonuses as well.

Just seven days later, it was reported that Wynn Macau would also be offering pay raises, offering the same increase of that of Melco to their non-executive employees.


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