Melco Resorts awards CEO US$10m worth of shares

Melco CEO Lawrence Ho Yau Lung has been awarded 484,956 shares worth US$10m.

Macau.- Casino investor Melco International Development has announced it has awarded Lawrence Ho Yau Lung, chairman and CEO of Melco Resorts and Entertainment, 484,956 restricted depositary shares.

The shares have a market value of US$10m and represent 0.1 per cent of Melco Resorts’ issued shares.

According to the company, the award was given to Lawrence Ho Yau Lung for his “duties and responsibilities as director of a subsidiary of Melco Resorts in Macau, where the majority of Melco Resorts group’s business is located.” 

The casino operator reported a loss after tax of HK$12.38bn (US$1.59bn) for 2020 due to Covid-19 pandemic countermeasures.

Melco Resorts also announced it has granted a purchase option to directors worth in aggregate about HKD16.4m (US$2.1m).