Casino operator MGM China Holdings Ltd. has announced a salary increase for its non-management staff, which will come into effect on March 20.
Referred to as a “cost of living adjustment”, the salary adjustment grants non-management staff earning less than MOP 16,000 (US$2,000) per month an increase of MOP 500 per month, while team members with monthly salaries above the threshold will receive an increment of 2.5 percent.
In February, MGM China reported an improvement in 16Q4 profit and said revenue edged up, helped mainly by a higher VIP hold.
Revenue was $500 million, an increase of $1 million over the prior year period. Adjusted EBITDA increased 5 percent to $138 million, compared to $131 million in the prior year quarter.
Quarterly revenues for the casino and resorts operator were $2.46 billion, which was up from $2.19 billion in the year-ago quarter, in line with analyst forecasts.