MGM China announces salary increment for non-management

Thursday 7th of March 2019

Macau casino operator MGM China on Wednesday announced a salary increment for non-management team members, effective March 18, 2019.

MGM said the salary hike, which ranges from 2.5 to 7.1 percent, represents their appreciation for their employees’ loyalty and commitment.

For eligible team members with a monthly salary of or less than MOP 16,000, a standard salary adjustment of MOP 600 will be awarded.. For eligible non-management team members earning above MOP16,000 per month, a 2.5 percent flat increment will be awarded.

Grant Bowie, chief executive officer and executive director of MGM China Holdings Limited, said, “I would like to extend my gratitude to the Golden Lion Team for their hard work and contributions during the year. 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.”

With this announcement, all six Macau concessionaires have now announced some form of salary increase in 2019.

In related news, the Statistics and Census Service (DSEC) recently released its survey results around wages for the gaming sector in 18Q4.

According to the results, the number of full-time employees in the Gaming Sector increased by 1.1 percent year-on-year to 57,246 in 18Q4.

The number of dealers also rose 1.1 percent to 24,719.

Average earnings as of December 2018 had also increased 3.5 percent year-on-year, while average earnings of dealers fell 3 percent.

Appointment of non-executive directors

On Wednesday night, the MGM China board of directors also announced the appointment of non-executive directors, including James Armin Freeman and John M. McManus.

Mr. Freeman has been appointed as a non-executive director of the Company and a member of the Audit Committee, while Mr. McManus has been appointed as a non-executive director of the Company and a member of the Nomination and Corporate Governance Committee.

Mr. Freeman, aged 50, has been with MGM Resorts International as senior vice president, Capital markets and strategy since March 2010.

Mr. Freeman’s role with MGM Resorts International has been to reshape the company’s balance sheet through leading its debt and equity capital raising activities, and to assist with strategic planning, market analysis, and strategic development.

Mr. Freeman also takes the lead, from a financial perspective, on merger and acquisition activities and is actively involved in special projects.

Mr. McManus, aged 52, has been the executive vice president, general counsel and secretary of MGM Resorts International since July 2010. Mr. McManus has also served a number of other senior roles at the company since 2008.