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January 16, 2018

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South Point giving $1 million in bonuses, cites tax reform bill

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Photo courtesy South Point

The South Point Hotel, Casino and Spa, 9777 S Las Vegas Blvd.

The South Point has joined the list of businesses handing out bonuses after passage of the Trump administration’s tax reform bill.

The casino released a statement today saying it was giving more than $1 million in bonuses for 2017 to its employees, doubling the amount of bonuses for 2016.

The company also said it would be rescinding a scheduled increase in the share of health insurance costs paid by employees.

“Las Vegas has experienced a significant amount of growth over the past few years, and this tax reform will continue to drive the economy for the city,” owner Michael Gaughan said in the statement. “The new bill will have a monumental effect on our economy and, in turn, our property. We want to be sure that our extended family is taken care of.”

Shortly after the tax bill was passed, a number of large corporations announced they would be handing out previously unscheduled bonuses.

According to reports, AT&T, Boeing, Wells Fargo, Comcast, and Fifth Third Bancorp all decided to give bonuses in the wake of the passage of the tax reform bill.