Mgm china gives its employees a raise

Mgm china gives its employees a raise

More than a month after most casino operators in Macau said they would give pay raises to their employees, MGM China has finally stepped up. It announced this past Wednesday that it is giving its non-management workers a slight bump in appreciation for their “loyalty and commitment.” The increase will be effective as of March 18.
Eligible personnel who currently earn up to $2,000 can expect to see their pay increase along the same lines as what has offered by operators such as Melco, or about $74.21. Depending on the current salary, these employees will see between 3.8{ae5ca9c9cd5302836a358c37a1f4845947451f4d209bff0232226c37c5ab4d77} and 7.1{ae5ca9c9cd5302836a358c37a1f4845947451f4d209bff0232226c37c5ab4d77} added to their paychecks. Those employees who earn over $2,000 will be given an increase of 2.5{ae5ca9c9cd5302836a358c37a1f4845947451f4d209bff0232226c37c5ab4d77}.
In a statement regarding the pay increase, MGM China CEO Grant Bowie said, “We continue to invest in nurturing our team, to develop their skills and in providing opportunities for them to build a successful career and contribute to the growth of our Macau community.”
Sands China made the jump first, announcing in January that it would offer its employees a pay raise as of March 1. All employees who have been with the company for at least a year were eligible for the increase. Melco’s announcement followed, and was similar to the Sands increase, but doesn’t take effect until April 1.
Wynn Macau followed in February, giving all non-senior employees a monthly boost. Galaxy was next in line, but its increase was valid for certain senior personnel, as well as non-management employees.
MGM China saw an improvement in its Macau earnings last year. Due in part to the MGM Cotai, which opened a little more than a year ago, the company reported strong fourth-quarter earnings, up 33.2{ae5ca9c9cd5302836a358c37a1f4845947451f4d209bff0232226c37c5ab4d77} to $685.1 million year-on-year. Of that amount, the Cotai property, the second for the company in Macau, contributed $286.62 million.
Despite the positive growth, the company seems to have a little difficulty holding on to key personnel. At the end of February, MGM China lost both its chief financial officer, Dan D’Arrigo, and a board member, William Scott. Both resignations followed departures of other high-ranking individuals at MGM China’s parent company, MGM Resorts.