Sands China has announced a discretionary bonus for eligible employees and a salary increase for 99 per cent of staff.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Sands China<\/strong>\u00a0has announced that it will give a bonus equivalent to one month\u2019s salary to eligible employees as a gesture of recognition for their 2023 contributions.\u00a0The undisclosed aggregate amount will be distributed on January 31. Those with less than a year of service will receive prorated bonuses if hired before October 1, 2023.\u00a0<\/p>\n\n\n\n Non-management team members with a year or more of service will receive the bonus, while management will be granted bonuses based on the company’s incentive plan.\u00a0<\/p>\n\n\n\n Sands China has also announced a salary increase, effective March 1, for 99 per cent (26,000 peopel). Those earning up to MOP13,000 monthly will have a 4.7 per cent to 5.4 per cent increase, while eligible team members with salaries exceeding MOP13,000 will see a 2.5 per cent pay rise.\u00a0<\/p>\n\n\n\n The\u00a0Gaming Inspection and Coordination Bureau\u00a0<\/strong>has reported that\u00a0Macau\u2019s gross gaming revenue (GGR) for 2023<\/a>\u00a0was MOP183.06bn. That\u2019s a rise of 333.8 per cent\u00a0when compared to 2022.<\/a>\u00a0As Macau\u2019s annual GGR exceeded MOP180bn (US$22.45bn), the six city\u2019s casino operators are to\u00a0increase their pledged non-gaming investment<\/a>\u00a0by 20 per cent.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Sands China has announced a discretionary bonus for eligible employees and a salary increase for 99 per cent of staff.<\/p>\n","protected":false},"author":176,"featured_media":26755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sands China has announced discretionary bonuses and salary increases for 99% of its workforce, effective January and March 2024, respectively. This follows Macau's 2023 Gross Gaming Revenue (GGR) reaching MOP183.06bn, a 333.8% year-on-year increase, which triggers a mandatory 20% increase in non-gaming investment for all six Macau casino operators.","focusai_entities":"Sands China, Gaming Inspection and Coordination Bureau","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"OpEx & Investment Impact","query":"What is the projected impact of these increased compensation costs and mandatory non-gaming investments on Sands China's Q1 2024 EBITDA and long-term capital expenditure plans?"},{"label":"Macau Market Outlook","query":"How will the sustained GGR recovery and increased non-gaming investment obligations influence the competitive landscape and diversification strategies among Macau's concessionaires?"}],"footnotes":""},"categories":[157,16338],"tags":[21680],"class_list":["post-777012237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012237","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=777012237"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012237\/revisions"}],"predecessor-version":[{"id":777012263,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012237\/revisions\/777012263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26755"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}