Mere hours ago, representatives of MGM China Holdings Ltd revealed that a special bonus will be given to the non-management team that is in charge of the Macau-based casino.
However, the special statement, released to provide details about the bonus payment, did not reveal who will be the workers eligible for it. The aggregate sum remained a secret as well. Anyway, it became clear that the sum will amount one monthly salary and MGM employees will receive it in July.
In point of fact, this will not the first bonus payment the non-management employees have ever received. They have already been given the so called “annual discretionary bonus”. Overall, the total amount of money paid out as bonuses to the non-management workers of MGM China will total two monthly salaries.
The Chief Executive of MGM China, Grant Bowie, commented on the matter and said that the bonus that is to be given to workers is the expected result of company’s performance during the period January – May 2014.
MGM executives wanted to make their employees feel appreciated and motivate them to achieve even greater business goals. In conclusion, Mr. Bowie said that employees’ dedication, hard work as well as their contribution to the achievement of important business goals are really valuable to the company.
Expectedly, people familiar with the matter would ask how Asian-based gambling companies can afford it to give bonuses, while they keep reporting record decline in revenues.
According to market analysts, the reason for the bonuses and the salary increases stems from the fact that companies need to hire a great number of workers as soon as the Cotai casino resorts that are currently under construction open doors for players. What is more, companies aim at keeping their experienced workers who will be a huge help once the venues are fully functional. The new casinos are supposed to open sometime in 2017.
Earlier today, it was announced in the press statement that the company is currently looking to hire graduates, willing to take part in the Management Associate Program. All graduates who participate in the Program are given the chance to spend one year in the MGM properties based in Las Vegas. Then, they are supposed to return to MGM China and take up a management position.
As many as 51% of MGM China shares are held by MGM Resorts, which is to announce the annual performance as well as the Q4 results within a few hours.
