Gaming operator SJM announced today (Monday) that it will still provide its annual ‘living subsidy’ equivalent to 1.5 or 2 months of salary.
According to the group, living subsidies will be made in two equal payments in January and July respectively, with the first payment to be made on January 6.
‘We would like to thank our staff members for their diligent work and dedicated support amidst the challenges of the COVID-19 pandemic […] Entering 2021, we stand in solidarity with the Macau people in safeguarding the health and safety of the community, and in welcoming a bright new year,’ SJM’s Chairman of the Board of Directors, Daisy Ho, indicates in the announcement.
First handed in 2014, the gaming operator announced last year that its annual bonus scheme would be renewed for eligible employees until 2022.
As of June 20 2020, SJM had approximately 20,200 full-time employees.
In previous years, beginning of the year bonus offered by the gaming concessionaire employees earning MOP20,000 (US$2,504) per month or less, would receive a “living subsidy” equal to two months of their current salary, whereas, if employees earn MOP20,000 per month or above, they will receive a “living allowance” of one and a half months of their current salary or at least MOP40,000, depending on which is higher.
For the first nine months of 2020, SJM saw net gaming revenues of HK$5.1bn (US$659.45m), a decrease of 79.4 per cent year-on-year.
The six gaming concessionaires usually provide different ‘winter’ and ‘summer’ bonuses for eligible non-management staff, with all six handing out early year bonuses in 2020.