Gaming concessionaire Sands China Ltd. has announced the paying a discretionary allowance to more than 26,000 eligible full-time team members equivalent to one month’s salary and capped at MOP45,000 (US$5,635).
The bonus will be handed out on February 8, 2021, and will benefit 99 per cent of Sands China’s total employees, with the group indicating the allowance is in ‘gratitude of team members’ dedication and contributions in 2020’, a year when the Covid-19 pandemic greatly impacted the local gaming sector.
Despite the economic downturn, with this announcement, all six gaming concessionaires have announced some kind of early year bonus to employees.
The local gaming industry is said to be already achieving better than breakeven EBITDA at current revenue levels, analysts with Sanford C. Bernstein indicated in a 2021 gaming industry outlook
‘Our company’s founder, the late Mr. Adelson, was particularly proud of the Sands China Ltd. team and our accomplishments. He was adamant, even during the most difficult times last year, that the company should do all that it can to support team members, their families, and the Macau community at large,’ Sands China President Wilfred Wong, said int he statement.
The founder and former CEO and chairman of the Las Vegas Sands empire passed away on January 11 of this year of complications during the treatment of non-Hodgkin’s lymphoma.
‘It gives me great pleasure, therefore, to announce that, in Mr. Adelson’s memory, the company will pay a discretionary allowance in appreciation of team members’ support, hard work and personal sacrifices,’ Wong indicated.