The casino company has announced it will continue providing the annual “living subsidy” despite the Covid-19 pandemic.<\/p>\n\n\n\n\n\n\n\n
Macau.- Casino operator SJM has announced it will continue to provide its annual “living subsidy” for employees, a bonus equivalent to 1.5 or 2 of their salary, despite the Covid-19 pandemic.<\/p>\n\n\n\n
The announcement was made by Chairman of the Board of Directors, Daisy Ho, in a statement where she explained living subsidies will be made in two equal payments in January and July respectively, with the first payment to be made on January 6.<\/p>\n\n\n\n
Ho said: “We would like to thank our staff members for their diligent work and dedicated support amidst the challenges of the COVID-19 pandemic [\u2026] <\/p>\n\n\n\n
“Entering 2021, we stand in solidarity with the Macau people in safeguarding the health and safety of the community, and in welcoming a bright new year.”<\/p>\n\n\n\n
In previous years, employees earning MOP20,000 (US$2,504) per month or less had been granted with a “living subsidy” equal to two months of their current salary, while employees earning MOP20,000 per month or above received one and a half months of their current salary or at least MOP40,000, depending on which is higher. <\/p>\n\n\n\n
The gaming operator announced its annual bonus scheme would be renewed for eligible employees until 2022.<\/p>\n\n\n\n
As of June 20 2020, SJM had approximately 20200 full-time employees.<\/p>\n\n\n\n
For the first nine months of 2020, SJM saw net gaming revenues of HK$5.1bn (US$659.45m), a decrease of 79.4 per cent year-on-year.<\/p>\n","protected":false},"excerpt":{"rendered":"
The casino company has announced it will continue providing the annual “living subsidy” despite the Covid-19 pandemic.<\/p>\n","protected":false},"author":2,"featured_media":13009,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau casino operator SJM has committed to continuing its annual \"living subsidy\" for employees, equivalent to 1.5 to 2 months' salary, despite a significant 79.4% year-on-year decline in Net Gaming Revenue (NGR) for the first nine months of 2020. This decision, announced by Chairman Daisy Ho, underscores the company's commitment to workforce stability amidst the COVID-19 pandemic, with payments scheduled for January and July.","focusai_entities":"SJM, Daisy Ho","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (0.9), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Subsidy Impact on EBITDA?","query":"What is the projected impact of this living subsidy on SJM's Q4 2020 and H1 2021 EBITDA and cash flow, considering the reported NGR decline?"},{"label":"Macau Labor Strategy Comparison?","query":"How does SJM's employee retention strategy, as evidenced by this subsidy, compare to other Macau concessionaires amidst the pandemic-induced market contraction and its implications for labor market dynamics?"}],"footnotes":""},"categories":[160,28,16338],"tags":[23907,23906,23108],"class_list":["post-13005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-east-asia-news","tag-land-based-casino","tag-macau-casinos","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=13005"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13005\/revisions"}],"predecessor-version":[{"id":13018,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13005\/revisions\/13018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/13009"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=13005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=13005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=13005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}