Macau gov’t asks casino operators to raise worker compensation

The Secretary for Economy and Finance of Macau, Lei Wai Nong, has requested that if certain “conditions” are satisfied, the casino operators in the city think about increasing worker pay in 2024.

He said that there is potential for private sector businesses, such as casino operators, to raise salaries by 2-3 percent, despite the fact that the government cannot mandate such increases in pay. This was shown by a recent survey. Secretary Lei emphasized that the government hopes that the workers of casino operators would benefit from Macau’s economic revival, acknowledging that workers are an essential resource for companies.

The government’s full-year projection for Macau’s casino gross gaming revenue was surpassed in the first ten months of 2023, reaching MOP148.45 billion (US$18.5 billion), a 315.6 percent increase over the same period in 2022. This impressive result has contributed to the city’s economic recovery.

Secretary Lei also expressed confidence in the potential of the city’s casino sector to generate MOP216 billion in gross gaming revenue in 2024, as indicated by the budget for the fiscal year 2024. He stressed the need for collaboration among all parties involved in order to achieve this aim and the positive impact it would have on Macau’s overall economic environment.

Secretary Lei emphasized the value of non-gaming elements in promoting Macau as a diverse tourism destination in addition to analyzing the gaming industry’s performance. He stressed that by the end of the year, casino concessionaires are expected to provide implementation reports on their non-gaming investment plans, with any shortcomings being corrected by the government.

The Secretary concluded by pleading with gaming companies to increase staffing levels, anticipating a 2-3% increase in personnel in the next year. The government’s broader economic goals and dedication to fostering a positive and welcoming atmosphere in Macau are both supported by this decision.

Original story by: GGRAsia