[Macau, March 2, 2017] The Board of MGM China Holdings Limited today announced a salary increment for its non-management team members at MGM, effective March 20, 2017 as a cost of living adjustment.
In view of the rising costs in Macau, non-management team members whose monthly salary is on or less than MOP16,000 will be granted an adjustment of MOP500 per month, which represents an increase of between 3%-7%. For team members earning above MOP16,000 per month, they will receive an increment of 2.5%.
On behalf of the Board of Directors, Grant Bowie, Chief Executive Officer & Executive Director of MGM China would like to thank our team for their tremendous efforts, which has been vital in helping us through these challenging times. “As we grow our footprint with the opening of MGM COTAI, we will have a team of over 11,000 employees with us at MGM, and we will continue to invest in nurturing local talents and guide them in building successful career paths as we always have.”
MGM is an abbreviation for MGM China Holdings Limited (HKEx: 2282) and is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/subconcessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and is developing a second resort, MGM COTAI which is expected to more than double our presence in Macau.
MGM MACAU is a Forbes Five-Star luxury integrated resort inspired by the arts with every element of the resort infused with creativity and style. MGM MACAU has approximately 600 guest rooms and suites and boasts a number of distinguishing features, including the architecturally stunning European-inspired Grande Praça, housed under a soaring glass ceiling. MGM MACAU’s world class facilities include the MGM Art Space, dedicating over 5,000 square feet to display authentic works of art, conference and event facilities, spa, and seven signature restaurants and bars to fulfill any gastronomic craving. Our property is conveniently located on prime waterfront on the Macau Peninsula and is directly connected to the luxury retail shopping complex, One Central.
MGM COTAI is the latest addition to the MGM portfolio in China. Designed as the “jewelry box” of Cotai, it plans to offer approximately 1,400 hotel rooms and suites, meeting space, high end spa, retail offerings and food and beverage outlets as well as the first international Mansion at MGM for the ultimate luxury experience. MGM COTAI will offer Asia’s first dynamic theater and a spectacle to wow every guest who steps foot in the resort. MGM COTAI is being developed to drive greater product diversification and bring more advanced and innovative forms of entertainment to Macau as it grows as a global tourist destination. MGM COTAI is the largest property and the first private sector project ever to achieve the China Green Building (Macau) Design Label Certification.
MGM China Holdings Limited is majority owned by MGM Resorts International (NYSE: MGM) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage.
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