A further two of Macau’s six casino operators announced on Monday extra payments for staff. Wynn Macau Ltd and Melco Resorts and Entertainment Ltd made public the news soon after MGM China Holdings Ltd had said on Monday it would also be giving special pay to eligible workers.
In early January, Sociedade de Jogos de Macau SA, the Macau operations unit of Hong Kong-listed casino firm SJM Holdings Ltd, said it would be giving its eligible employees what it termed “living subsidies” equivalent to “two months or 1.5 months” of salary.
In its Monday statement, Wynn Macau Ltd described its move as an “annual bonus equal to one month’s gross salary,” for all eligible staff at its properties Wynn Macau on the city’s peninsula, and Wynn Palace on Cotai.
Macau’s annual Gaming Service Index survey of casino resort staff performance shows that there was a 17-point improvement year-on-year in the overall index in the fourth quarter of 2020, relative to the final three months of 2019. The fourth-quarter 2020 reading was 130 points, versus 113 points in the same period a year earlier, according to a report published on Wednesday.
The review, conducted by so-called ‘mystery shoppers’, was limited in 2020 to two observation rounds, one in October and one in November, due to the Covid-19 pandemic, said the organisers in a Wednesday briefing.
The survey was organised by the Macau Gaming Research Association, in collaboration with SGS Hong Kong Ltd, described as an inspection, verification, testing and certification company.
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Online Betting Continues to Grow as Regulators Reappraise Their Efforts
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NEW YORK, Dec. 21, 2020 /PRNewswire/ More and more states are launching online betting businesses as the legal infrastructure and public opinion have turned in favor of such services. Next year, major markets such as Michigan will join numerous others as online sports betting becomes legal. However, all operators and platform providers, including popular ones like DraftKings and FanDuel, must still earn final licensing approval from the state before launching services. To illustrate just how popular the online sports betting is in states where the market can already operate, New Jersey recorded USD 803.1 Million in bets on sports in the month of October, setting the national record for the third month in a row, according to the state s Division of Gambling Enforcement. Furthermore, according to a report by Mlive, Michigan s commercial c
Macau casino operator Wynn Macau Ltd said in a Wednesday filing it expected to raise US$765.9 million net from an add-on issuance of senior unsecured notes valued at a principal amount of US$750 million, thanks to being able to charge investors a 3 percent premium on the principal amount.
Wynn Macau Ltd – which operates the Wynn Macau resort on the city’s peninsula, and Wynn Palace (pictured) in Cotai – reiterated commentary it gave in a Monday filing when it first announced the add-on notes plan, that it intends to use the net proceeds for “repayment of a portion of the amounts outstanding under the Wynn Macau [Ltd] credit facilities”.