• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Lawrence Ho further increases stake in Melco Resorts

Feb 22, 2019 Newsdesk Latest News, Macau, Philippines, Top of the deck  


Lawrence Ho further increases stake in Melco Resorts

Casino entrepreneur Lawrence Ho Yau Lung (pictured) has increased his stake in Nasdaq-listed Asian gaming business Melco Resorts and Entertainment Ltd. It was the second time in fewer than four months that his equity participation in the firm went up.

The news was given in a Thursday filing to Nasdaq. According to the document, Mr Ho’s stake – and that of entities controlled by him or his family – in Melco Resorts has increased to 55.8 percent.

In November last year, it was announced that Mr Ho had upped his stake in the casino operator to 54.6 percent. As of April 2018, Mr Ho and his interests held approximately 51.06 percent of Melco Resorts according to the latter’s 2017 annual report filed that month.

Mr Ho personally holds shares in Melco Resorts, as well indirectly via his interests in Melco International Development Ltd, the Hong Kong-listed parent firm of Melco Resorts. Since November, Mr Ho’s personal position in Melco Resorts increased by almost 1.6 million shares, to close to 13.25 million shares, the data included in Thursday’s filing showed.

Mr Ho’s overall controlling position in Melco Resorts benefitted from an ongoing US$500-million share repurchase programme announced by the company in November. Since then, Melco Resorts has repurchased approximately 10 million of its American depository shares. Each Melco Resorts’ American depository share is equivalent to three shares in the company.

As of Thursday, Mr Ho and his interests beneficially owned an aggregate of 836,563,396 ordinary shares of Melco International, representing approximately 55.05 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.  The firm announced on Tuesday a 57.7-percent year-on-year increase in profit for the fourth quarter of 2018.


  • tweet
Related articles
  • Melco Resorts debt/EBITDA ratio to worsen in 2021: Moody’s
    Melco Resorts debt/EBITDA ratio to...

    Jan 14, 2021  

  • Melco GGR up 94pct in Oct-Nov, prices US$250mln notes
    Melco GGR up 94pct in Oct-Nov, prices...

    Jan 14, 2021  

More news
  • Casino op MGM China to pay most staff discretionary bonus
    Casino op MGM China to pay most staff...

    Jan 18, 2021  

  • Casino op Silver Heritage to issue 53mln new shares
    Casino op Silver Heritage to issue...

    Jan 18, 2021  


Latest News

Casino op MGM China to pay most staff discretionary bonus

Casino op MGM China to pay most staff discretionary bonus

Jan 18, 2021  

Macau casino operator MGM China Holdings Ltd announced on Monday that it was to pay a “discretionary bonus” to “eligible non-management” staff, adding that “over 90 percent” of its...
Read More
Casino op Silver Heritage to issue 53mln new shares

Casino op Silver Heritage to issue 53mln new shares

Jan 18, 2021  

Grand Korea extends Seoul, Busan casino closures to Feb 1

Grand Korea extends Seoul, Busan casino closures to Feb 1

Jan 18, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The most worrying [thing] is whether [mainland] China will again tighten the issuance of travel visas [for visits to Macau]"

Luiz Lam Kai Kuong

Macau junket investor



Most Popular

  • Sheldon Adelson, self-declared casino industry iconoclastSheldon Adelson, self-declared casino industry iconoclast January 13, 2021
  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • Casino entrepreneur Sheldon Adelson dies aged 87Casino entrepreneur Sheldon Adelson dies aged 87 January 12, 2021
  • Police find US$11m of missed Landing cash, suspects soughtPolice find US$11m of missed Landing cash, suspects sought January 14, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us