Lawrence Ho increases stake in Melco

Melco Resorts and Entertainment top official has increased his 54.6% stake in the company up to 55.8%.

Hong Kong.- Melco Resorts and Entertainment Chairman and CEO Lawrence Ho has increased his stake in the company by approximately 1%. Until now, he had a 54.6% holding in Melco, which he has now improved to 55.8%.

The repurchase of ordinary shares was reported through an SEC filing released on Friday, in which the company announced that Mr Ho now holds 770,477,237 shares. There are another  4,596,981 ordinary shares available for him to buy, in addition to a further 217,140 restricted shares pursuant to Melco’s incentive plan, which he’s entitled to receive (upon vesting) within 60 days.

The casino mogul continues to increase his stake in the company, showing his confidence on its success. Back in November, a filing to Nasdaq showed that Ho, along with majority shareholder Melco International Development and Melco International subsidiary Melco Leisure and Entertainment, increased their stake to 54.6% after a share repurchase.