Some people may think that as Wynn Macau total earnings dropped more than 40% as 2016 drew to its end, it will translate into the slashing of employees’ salaries.Steve Wynn Receives $12.5 Million From Vegas And Macau Rebounds.
In fact, a section of the people including employees themselves thought that they would be laid off.
“I have seen it coming,” said one employee in the finance department who had known that there was a drop in the aggregate collections.
Last year, saw a number of big names in the gaming industry report different results with regard to making real money online casino gambling sites.
While a good number of the facilities recorded good results due to presidential campaigns that climaxed to the elections, some of the facilities recorded far below their projections.
Although situated far from the Western world, Wynn Macau recorded a drop of slightly above 40%. The difference of the drop from 50% is just 10%! What that means is the resort nearly lost a half of the usual annual collection.
Nonetheless, Steve Wynn is a man full of surprises especially to his junior employees, who according to him do a lot of work to see his company move forward.
In spite of the drop in its aggregate revenue collection, Wynn has maintained his top employees’ salaries with an increment to junior employees.
The drop in all the collection in 2016 is attributed to the fall of clients especially the VIP sector, which Chinese authorities’ hard stance affected.
According to Wynn Macau records, the resort collected $184.8 million in 2016 compared to $310.2 million the previous year. To some gaming investors, this is a huge amount that will even cause a landslide overhaul of the company. In fact, it would even mean either to partially shut down the facility or to lay off a section of the workforce.
However, on what has been seen by many people as a caring and optimistic boss, Steve has vowed that his employees who have been loyal to the company will remain until things get better.
He still believes that things will change for the good in 2017. Even in the current state, Wynn Macau has confirmed that it will pay shareholder’s dividends at a price of 6 cents per share. The Chinese Government Likely To Be Part Of Australian Casino Ownership Deal.
Perhaps, what is giving Steve morale, is the industry’s performance in February when revenue collection for all facilities in Macau. In that month alone, Macau’s gaming companies broke the record by having the highest numbers in terms of what they collected from various gambling sectors.
That is even as the Chinese authorities continue to oppress the VIP sector.