Meg-Star group will provide employees with a 5% increase in salaries from March 1. This will affect 1300 employees, which makes up about 98% of the current workforce, excluding senior management.
Just prior to the beginning of the Chinese New Year, the company gave a one-time bonus to staff members. Meg-Star said this was in gratitude to all of those who had helped the company through their dedication.
Meg-Star issued a press release in January which explained that they would set up a type of retirement and pension plan who met a set criteria. This would also include a retirement package.
In 2008, Meg Star opened three brand-new VIP casino clubs during 2018. In April, The City of Dreams Macau was opened and four months after this Altira Macau was the seventh VIP club by the company. An eighth club was opened at Sands China and there are further plans for expansion.
This was considered a surprising move by the company as many gaming analysts have expressed skepticism of the viability of the VIP market. In early 2018, the international brokerage firm Sanford Bernstein issued a warning that the VIP gaming market should expect to see a significant slowdown during the second half of 2018 due to political and economic factors.
Meg-Star has opted to further expand their VIP casinos despite the bleak projection. Keeping this in mind it is not at all shocking to see the company opt for pay raises. This will ensure that the company remains competitive and retains its employees.
Meg-Star is simply falling into line with its competitors as they had already provided pay hikes for their staff.