Melco Resorts & Entertainment Limited, a developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia, today announces that a one-month discretionary bonus has been paid to all eligible non-management employees in advance of the Lunar New Year, and effective April 1, 2018, all eligible non-management employees will receive a salary increase ranging from 2.5% to 8.1% in recognition for their hard work and contribution to the Company.
Effective April 1, 2018, all eligible full-time, non-management employees earning a monthly salary of up to MOP 16,000 will receive a salary increase of MOP 600 per month, representing an increase of 3.8% to 8.1%. All eligible full-time, non-management employees earning a monthly salary in excess of MOP 16,000 shall receive an increment of 2.5%.
Another discretionary award offered by Melco to its employees is the best-in-class ÒMelco Employee Loyalty ProgramÓ introduced in 2014. Eligible employees were offered a choice between receiving an additional month’s pay during the summer for three successive years; or the ÒGolden Nest EggÓ, a market-leading incentive offering of the total sum equal to six months’ pay for those eligible employees who serve approximately three consecutive years with the Company. In July 2018, eligible employees will receive the final payment of the ÒGolden Nest EggÓ. Melco is the first and only company in Macau to have offered such incentive to its non-management employees. Melco has always and continues to see employees as a top priority for the company. In the aftermath of Hato, Melco set up a relief fund and allocated MOP 12 million to its affected employees and their families, covering 100% of damage claims.
MrÊLawrence Ho, Chairman and Chief Executive Officer, Melco Resorts & Entertainment, said, ÒMelco’s employees are our strongest asset, as a token of our heartfelt thanks for their unfailing dedication, contribution and loyalty, we are pleased to announce a discretionary bonus and a competitive pay increment to our employees. With extensive upgrades to our integrated resort offerings, culminating in the unveiling of Morpheus this year, I trust that together, we will further solidify our leadership position in the industry to make 2018 a fruitful and rewarding year.Ó