Melco Resorts & Entertainment CEO Lawrence Ho has been granted restricted shares worth $15.2 million as part of the company’s employee incentive plan.
A special purpose acquisition company (SPAC) backed by Melco’s Lawrence Ho has applied to raise capital in Hong Kong, becoming the 11th SPAC to do so on the Hong Kong Stock Exchange to date.
Melco Resorts Chairman and CEO Lawrence Ho told a conference call that he still sees Japan as “the best potential new gaming market globally.”
Melco Resorts’ 1Q22 adjusted EBITDA fell short of analyst expectations, as Covid-19 travel restrictions continued to impact operational and financial performance of the company.
The emergence of the Omicron variant has derailed plans for the Philippines to reopen to international tourism, but operators are looking forward to a brighter 2022 as lockdowns ease and locals resume travelling.
Melco Resorts celebrated its milestone of having vaccinated 70 percent of its staff in Macau and Hong Kong by hosting a $3 million (USD 375,000) lucky draw, with three colleagues each winning $1 million (USD 125,000).