Macau’s secretary for economy and finance says there is room for operators to increase salaries by 2 to 3 per cent.<\/p>\n\n\n\n\n\n\n\n
Macau.- Secretary for economy and finance Lei Wai Nong<\/strong> has advocated for an increase in pay at gaming operations in the upcoming year. Addressing queries during a Legislative Assembly session focused on the 2024 Policy Address, Lei said he favoured salary adjustments if gaming companies had the necessary conditions. He clarified that the government lacks the authority to mandate such changes for the six casino concessionaires.<\/p>\n\n\n\n Lei noted that the Guangdong-Hong Kong-Macao Greater Bay Area Pay and Benefits Survey published last month found room for private sector entities, including casino operators, to raise salaries by 2 to 3 per cent. This aligns with the overall salary adjustments anticipated for the private sector in Macau in 2024.<\/p>\n\n\n\n Earlier this month, the Macau Government <\/strong>anticipated that the city\u2019s casino gross gaming revenue (GGR) for 2024 will amount to MOP216.0bn (US$26.8bn)<\/a>.<\/p>\n\n\n\n In October<\/a>, Macau\u2019s GGR was up 30.6 per cent month-on-month<\/a> and 400.2 per cent from last October. Cumulatively, Macau\u2019s GGR for the first ten months of 2023 stands at MOP148.44bn (US$18.44bn), up 315.6 per cent compared to the same period in 2022. For full-year 2022<\/a>, Macau\u2019s casino GGR was down by 51.4 per cent year-on-year at MOP42.19bn (US$5.25bn). <\/p>\n","protected":false},"excerpt":{"rendered":" Macau’s secretary for economy and finance says there is room for operators to increase salaries by 2 to 3 per cent.<\/p>\n","protected":false},"author":176,"featured_media":19870,"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's Secretary for Economy and Finance has suggested gaming operators consider a 2-3% salary increase, citing a recent survey indicating room for such adjustments within the private sector. This recommendation comes alongside the government's projection of MOP216.0bn (US$26.8bn) in Gross Gaming Revenue (GGR) for 2024, following significant GGR recovery in 2023.","focusai_entities":"Lei Wai Nong, Legislative Assembly, Macau Government","focusai_location":"Macau, Guangdong-Hong Kong-Macao Greater Bay Area","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), operator_casino (1.0), investor_analyst (0.95), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Operator EBITDA?","query":"How will the suggested 2-3% salary increase impact the EBITDA margins of Macau's six casino concessionaires, considering the projected MOP216.0bn GGR for 2024?"},{"label":"Labor Market Implications?","query":"What are the long-term implications of the Macau government's non-mandated wage suggestions on the gaming sector's labor market dynamics and talent retention strategies?"}],"footnotes":""},"categories":[157,16338],"tags":[23907,23906],"class_list":["post-777011365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011365","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777011365"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011365\/revisions"}],"predecessor-version":[{"id":777040908,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011365\/revisions\/777040908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19870"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}