The casino mogul increased his stake in Melco Resorts and now holds 54.6% of the shares.
Macau.- Melco Resorts and Entertainment Chairman and CEO Lawrence Ho has increased his holding in the company by approximately 3%. The repurchase of ordinary shares was recently approved by the company’s board.
The news revealed in a Monday filing to Nasdaq show that Ho along with majority shareholder Melco International Development and Melco International subsidiary Melco Leisure and Entertainment increased their stake to 53.8% after the share repurchase.
According to the filling, Ho’s stake in Melco Resorts increased from 51.06 in April to 54.6 in November. Ho and his interests beneficially own an aggregate of 829,115,396 ordinary shares of Melco International. “Ho may be deemed to beneficially own an aggregate of 829,115,396 ordinary shares of Melco International, representing approximately 54.05% of Melco International’s ordinary shares outstanding,” the filing said.