Melco to launch share purchase and award programme for employees

Melco Resorts & Entertainment has announced it will launch a share purchase plan for eligible employees who agreed to participate in the company’s voluntary leave programme.

Macau.- Melco Resorts & Entertainment Limited will launch a plan for those who entered the company’s voluntary leave program announced in 2020 amid the Covid-19 pandemic.

Melco said the programme aims “to recognize the dedication and commitment of its employees and provide eligible employees the opportunity to benefit from the Company’s long-term growth.”

The Share Purchase and Award Programme will allow eligible employees to use a portion of their salaries from July 2021 to June 2022, to purchase and receive a grant of restricted shares under the Melco Resorts 2011 Share Incentive Plan.

The plan will have an aggregate value equal to 200 per cent of the amount of base salary applied as of the grant date. 

Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment Limited, said: “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 capitalize on the long-term growth of the Company.”

The company’s “New Chapter” voluntary exit programme offers Melco employees up to 12 months base salary with guaranteed tips to exit the company to seek other opportunities.

Under the voluntary exit programme, employees could also apply for a special leave arrangement on 40 per cent of monthly salary for between six and twelve months, with permission to work elsewhere. 

At the end of the special leave arrangement, employees would return to their role at Melco.

Melco Resorts raise dividend payout to help Melco International Development

Morgan Stanley has reported that Melco Resorts & Entertainment could raise its dividend payout to help Melco International Development fund plans for a non-gaming complex in Zhongshan in China’s Guangdong province.

Analysts said Melco Resorts had an HKD$2.2bn (US$283m) cash outflow commitment to the non-gaming complex.

The Zhongshan complex will benefit Melco Resorts with several longer-term impacts since it displays the company’s commitment to developing non-gaming in the greater Macau area as Melco current gaming licence will expire in June 2022 but could be extended for up to five years under the city’s gaming laws.