• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Melco Resorts announces share award scheme for employees

Jul 09, 2021 Newsdesk Latest News, Macau, Top of the deck  


Melco Resorts announces share award scheme for employees

Casino operator Melco Resorts and Entertainment Ltd says it has adopted a share purchase and award programme open to staff at management level that agreed in 2020 – during the height of disruption to Macau tourism amid the Covid-19 pandemic – to participate in the company’s voluntary leave scheme.

The firm added that the initiative would provide the group’s eligible employees with the “opportunity to benefit from the company’s long-term growth.” The scheme aims to “recognise the dedication and commitment” of the group’s employees, stated the company in a Thursday press release.

In a separate filing, the firm also said the programme aimed to encourage vaccination against Covid-19 among its management staff, and to “continue to proactively manage costs.”

It said the programme covers eligible management employees “who agreed in 2020, at the height of the Covid-19 pandemic, to participate in the company’s voluntary leave programme.” The release did not specify how many workers were eligible for the award scheme, which runs from July 2021 to June 2022.

In that period, the relevant Melco Resorts’ employees can use a portion their base salary “to purchase and receive a grant of restricted shares under the Melco Resorts 2011 share incentive plan, with an aggregate value equal to 200 percent of the amount of base salary, so applied as at the grant date”.

The statement clarified that the maximum amount of restricted shares which may be issued under the new scheme “represents less than 0.50 percent of the company’s total shares outstanding as of July 8, 2021”.

The release quoted Lawrence Ho Yau Lung, chairman and chief executive of Melco Resorts, as saying: “The share purchase and award programme demonstrates our recognition of the dedication and commitment our colleagues have demonstrated during the height of the Covid-19 pandemic last year.”

He added: “As the pandemic gradually subsides, we would like to extend our gratitude and appreciation to all our colleagues and ensure they have the chance to capitalise on the long-term growth of the company.”

Melco Resorts, operator of the City of Dreams casino resort (pictured) in Macau, launched in 2020 programmes that offered special-leave arrangements for its staff. That was part of a “series of measures taken by the company to proactively manage costs in the face of the unprecedented challenges of the pandemic,” said the firm in Thursday’s release.

In May this year, Melco Resorts said it had launched multiple voluntary programmes designed to help those of its staff with Macau ID to “reach personal and professional objectives.” The measures include a voluntary exit scheme for its staff, the firm stated.


  • tweet
Related articles
  • APE narrows annual loss as revenue up 38pct
    APE narrows annual loss as revenue up...

    Mar 28, 2023  

  • Melco’s Studio City has foreigner-only bet zone: checks
    Melco’s Studio City has...

    Mar 27, 2023  

More news
  • Pagcor chairman keynote speech at SiGMA Asia
    Pagcor chairman keynote speech at SiGMA...

    Mar 28, 2023  

  • 3-month eVisa plan to boost Vietnam tourism: report
    3-month eVisa plan to boost Vietnam...

    Mar 28, 2023  


Latest News

Pagcor chairman keynote speech at SiGMA Asia

Pagcor chairman keynote speech at SiGMA Asia

Mar 28, 2023  

Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
Read More
3-month eVisa plan to boost Vietnam tourism: report

3-month eVisa plan to boost Vietnam tourism: report

Mar 28, 2023  

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us