Macau, March 19, 2015 - Wynn Macau, Limited today announced a 5% salary increase, effective March 1, 2015, for all eligible employees (excluding senior management) of Wynn Macau and Wynn Palace, which represents close to 98% of the current 8,100 workforce.
Stephen A. Wynn, Chairman and CEO of Wynn Resorts said, “The 13 years that our company has been in Macau reflect one of the greatest privileges ever bestowed upon a commercial enterprise. We were privileged to be invited to participate in this remarkable expansion of the Macau economy, the most singular element of which has been the positive impact upon the lives of its citizens. We recognize that we owe our success to those people, our employees, who have helped us to contribute in the growth of one of the greatest tourist destinations in the world. While the market has recently come under some pressure, we believe that with the cooperation and support of the Macau SAR Government, the future of Macau will be even brighter than the past. We want to reaffirm our commitment to the community and to our employees with a pay increase of five percent in 2015. This increase is in addition to the 1,000 shares we granted to each of our employees, which now totals 8.3 million shares given since July 2014. These shares, including their annual dividends, represent an additional 10 percent increase in pay. We believe that employee ownership in our company is as essential to our future success as it is to our employees’ long-term well-being.”
In addition to the salary increment, employees receive a guaranteed annual bonus equating to two months’ salary, including their 13th month bonus paid in January and another bonus given in July. This bonus program will continue into 2017.
