Casino entrepreneur Lawrence Ho Yau Lung (pictured) has increased his stake in Nasdaq-listed Asian gaming business Melco Resorts and Entertainment Ltd.
The news was given in a Monday filing to Nasdaq. Up to April 11 this year, Mr Ho and his interests held approximately 51.06 percent of Melco Resorts according to the latter’s 2017 annual report filed that month.
According to the latest filling, his stake – and that of entities controlled by Mr Ho or his family – in Melco Resorts has increased to 54.6 percent.
Mr Ho personally holds shares in Melco Resorts, as well indirectly via his interests in Melco International Development Ltd, the parent firm of Melco Resorts. As of November 14, Mr Ho and his interests beneficially own an aggregate of 829,115,396 ordinary shares of Melco International, representing approximately 54.05 percent of Melco International’s outstanding ordinary shares.
Melco Resorts operates casinos in Macau and one in the Philippines, and is working to obtain a casino licence in Japan.
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"The MSAR [Macau Special Administrative Region] Government is always maintaining its policy not to have imported labour to work as dealers. This position has not changed"
Lionel Leong Vai Tac
Macau’s Secretary for Economy and Finance