• 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

Melco Resorts US$5mln share grant to Lawrence Ho

Apr 04, 2018 Newsdesk Latest News, Macau, Philippines, Top of the deck  


Melco Resorts US$5mln share grant to Lawrence Ho

Nasdaq-listed casino developer and operator Melco Resorts and Entertainment Ltd has granted American depository shares (ADSs) valued at approximately US$5.1 million to its chairman and chief executive Lawrence Ho Yau Lung (pictured).

The firm said in a Tuesday filing that the award – of restricted shares in respect of 177,127 ADSs, equivalent to 531,381 ordinary shares – was “to recognise Mr Ho’s contribution to the success and development of the Melco Resorts group and to incentivise and motivate him to continue to strive for the future development of the Melco Resorts group and its business.”

In February Melco Resorts – which owns and operates casino resorts in Macau and operates City of Dreams Manila in the Philippines via a subsidiary – posted an 88 percent increase in fourth-quarter profit, and hiked its quarterly dividend by 50 percent. For full-year 2017, Melco Resorts reported net revenue of US$5.3 billion versus US$4.5 billion in the prior year. Net income nearly doubled to US$347.0 million, compared to US$175.9 million in full-year 2016.

In other developments recently, the group has also declared itself a contender for a casino licence in Japan.

The restricted shares awarded to Mr Ho as an incentive will be allotted and issued to him in two stages: the first batch on March 29, 2020, and the second batch on March 29, 2021.

The market value of the shares as quoted in the filing is based on a closing price of US$28.98 per Melco Resorts ADS as quoted on the Nasdaq Global Select Market on March 29 this year.

The restricted shares granted represent approximately 0.036 percent of Melco Resorts’ issued share capital, according to Tuesday’s filing.

Melco Resorts is 51-percent owned by Melco International Development Ltd, a Hong Kong-listed firm that is separately pursuing a casino opportunity on the Mediterranean island of Cyprus.


  • tweet
Related articles
  • Melco’s Lawrence Ho hopeful on Macau recovery in March
    Melco’s Lawrence Ho hopeful on Macau...

    Feb 26, 2021  

  • Gaming recovery helps Melco Resorts EBITDA break even 4Q
    Gaming recovery helps Melco Resorts...

    Feb 26, 2021  

More news
  • Aristocrat to launch EGM-based responsible gaming features
    Aristocrat to launch EGM-based...

    Feb 26, 2021  

  • Suncity to open clubs at Londoner Macao, Lisboa Palace
    Suncity to open clubs at Londoner...

    Feb 26, 2021  


Latest News

Aristocrat to launch EGM-based responsible gaming features

Aristocrat to launch EGM-based responsible gaming features

Feb 26, 2021  

Casino slot machine maker and digital games provider Aristocrat Leisure Ltd says it plans to launch in the first quarter this year a new product with responsible gaming features, which has already...
Read More
Suncity to open clubs at Londoner Macao, Lisboa Palace

Suncity to open clubs at Londoner Macao, Lisboa Palace

Feb 26, 2021  

Tech supplier Crane ups forecast for 2021 core sales

Tech supplier Crane ups forecast for 2021 core sales

Feb 26, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$53.4 million

Adjusted EBITDA reported by Asian casino operator Melco Resorts and Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
  • Galaxy Macau Phase 3 MICE to launch in stages says execGalaxy Macau Phase 3 MICE to launch in stages says exec February 24, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us