Melco Resorts & Entertainment has announced a one-month discretionary bonus and a 2.5 per cent base salary increase for eligible non-management staff.<\/p>\n\n\n\n\n\n\n\n
Macau.- Melco Resorts & Entertainment <\/strong>has announced a one-month discretionary bonus for non-management employees, becoming the fifth concessionaire to do so in Macau. <\/p>\n\n\n\n Lawrence Ho<\/strong>, the company’s chairman and CEO, expressed acknowledgement of the dedication and hard work of their eligible staff. The bonus will be distributed ahead of the Chinese New Year, aligning with the industry trend of recognizing employee efforts during this period.<\/p>\n\n\n\n Additionally, Melco unveiled a 2.5 per cent base salary increase for eligible non-management employees in Macau, effective from April 1. This announcement mirrors similar measures taken by other major operators like Galaxy Entertainment Group, Wynn Macau Limited, MGM China<\/a>, and Sands China<\/a> in the same week.<\/p>\n\n\n\n Lawrence Ho emphasized the significance of these initiatives in recognizing the loyalty and hard work of the non-management workforce<\/strong>. The move is seen as part of an industry-wide response to ensure employee satisfaction and motivation, aligning with expectations set by the Macau government’s wage increase forecast for 2024.<\/p>\n\n\n\n See also:<\/strong> Macau GGR to rise 28% year-on-year in 2024, analysts say<\/a><\/p>\n\n\n\n Last November, Moody\u2019s Investor Services upgraded Melco Resorts Group\u2019s credit outlook from negative to stable. The decision followed the release of the company\u2019s third-quarter results<\/a>, in which operating revenue was US$1.02bn, up from US$947.9m in the previous quarter<\/a> and up 321 per cent in year-on-year terms.<\/p>\n\n\n\n The rating agency foresees Melco Resorts & Entertainment Limited (MRE) and Studio City generating free cash flow in the next 12-18 months, aided by the market recovery and the completion of major capital spending projects. <\/p>\n","protected":false},"excerpt":{"rendered":" Melco Resorts & Entertainment has announced a one-month discretionary bonus and a 2.5 per cent base salary increase for eligible non-management staff.<\/p>\n","protected":false},"author":176,"featured_media":25856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Melco Resorts & Entertainment has announced a one-month discretionary bonus and a 2.5% base salary increase for its non-management staff in Macau, becoming the fifth concessionaire to implement such measures. This move aligns with broader industry trends and the Macau government's 2024 wage increase forecast, following a recent credit outlook upgrade for Melco by Moody's Investor Services amidst strong Q3 operating revenue and positive free cash flow projections.","focusai_entities":"Melco Resorts & Entertainment, Lawrence Ho, Galaxy Entertainment Group, Wynn Macau Limited, MGM China, Sands China, Moody\u2019s Investor Services, Melco Resorts Group, Melco Resorts & Entertainment Limited (MRE), Studio City","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), operator_casino (1.0), investor_analyst (0.9), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Impact on Melco's EBITDA?","query":"What is the projected impact of these discretionary bonuses and salary increases on Melco Resorts & Entertainment's near-term EBITDA margins and overall operating expenses, considering the recent revenue growth and free cash flow forecasts?"},{"label":"Macau labor market trends?","query":"How do these compensation adjustments by Melco and other Macau concessionaires reflect the current competitive landscape and labor market pressures within the region's integrated resort sector?"}],"footnotes":""},"categories":[157,16338],"tags":[18488],"class_list":["post-777012302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-melco-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012302","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=777012302"}],"version-history":[{"count":1,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012302\/revisions"}],"predecessor-version":[{"id":777012303,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012302\/revisions\/777012303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}