• 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 gets US$19mln share grant from Melco Resorts

Apr 02, 2020 Newsdesk Latest News, Top of the deck, World  


Lawrence Ho gets US$19mln share grant from Melco Resorts

Macau casino operator Melco Resorts and Entertainment Ltd has granted restricted shares worth approximately US$19.3 million to Lawrence Ho Yau Lung (pictured in file photo), chairman and chief executive of United States-listed Melco Resorts.

A filing from Hong Kong-listed Melco International Development Ltd – the parent firm of Melco Resorts – said the award was in recognition of his contribution to Melco Resorts.

The award to Mr Ho amounted to 1,553,780 American Depositary Shares (ADSs), which represented approximately 0.32 percent of Nasdaq-listed Melco Resorts’ issued shares as of April 1. The market value of the restricted shares was based on the closing price of US$12.40 per ADS as quoted on the Nasdaq Global Select Market on March 31.

The restricted shares will vest in two equal tranches respectively on March 31, 2022 and March 31, 2023, Melco International noted in the Wednesday filing.

The purpose of the restricted shares grant was to “incentivise and motivate” Mr Ho to continue to strive for Melco Resorts’ future development and business, Melco International stated.

“The grant is also part of the cash preservation initiatives implemented by Melco Resorts,” during the ongoing Covid-19 pandemic, “to satisfy Mr Ho’s performance bonus for 2019 which would otherwise have received in cash,” Melco International wrote.

Melco International said in a Tuesday filing that the coronavirus emergency – as well as hurting gaming business – might cause non-gaming segments including retail tenants at group resorts to struggle in meeting payment commitments to the group.


  • tweet
Related articles
  • Travel ban on casino hub Sihanoukville: reports
    Travel ban on casino hub Sihanoukville:...

    Mar 05, 2021  

  • Melco says City of Dreams in Cyprus open summer 2022
    Melco says City of Dreams in Cyprus...

    Mar 05, 2021  

More news
  • Fitch says LVS Nevada sale slight negative, Moody’s keener
    Fitch says LVS Nevada sale slight...

    Mar 05, 2021  

  • Casino firm Landing flags 10pct-20pct slimmer year loss
    Casino firm Landing flags 10pct-20pct...

    Mar 05, 2021  


Latest News

Fitch says LVS Nevada sale slight negative, Moody’s keener

Fitch says LVS Nevada sale slight negative, Moody’s keener

Mar 05, 2021  

Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
Read More
Travel ban on casino hub Sihanoukville: reports

Travel ban on casino hub Sihanoukville: reports

Mar 05, 2021  

Melco says City of Dreams in Cyprus open summer 2022

Melco says City of Dreams in Cyprus open summer 2022

Mar 05, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"

Junling Tan, Yu Sheng Tay and Vikas Halan

Analysts at credit rating agency Moody’s Investors Service



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Pansy Ho again cuts stake in MGM Resorts, for US$57mlnPansy Ho again cuts stake in MGM Resorts, for US$57mln March 4, 2021
  • LVS plans to keep U.S. base, stock listing: spokesmanLVS plans to keep U.S. base, stock listing: spokesman March 4, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us