Casino to Give Shares to Employees

Wynn Resorts, owner of Wynn Macau Casino, is giving each of its 7,500 employees 1,000 shares of company stock, according to a press release (PDF). Owner Steve Wynn (who also owns casinos in the U.S.) said that "I consider everyone at Wynn Macau my family, and it is my fundamental belief that our amazing success should also be shared as a family," Mr. Wynn said. "The only compelling way that my colleagues can fully participate in our business success is by making each and every one of them an owner of the company with me."

The stock was worth $3.96 per share at the time of grant. The company does not have an employee ownership plan for its US employees. The job market for casino workers in Macau, however, is very competitive.