Melco Resorts names non-executive director

Melco renewed its administration. Credits: The Motley Foot. 
Melco renewed its administration. Credits: The Motley Foot. 

Francesca Galant was named as independent non-executive director of Melco Resorts.

Macau.- In an official statement published earlier this week, the Asian casino operator Melco Resorts announced a new director for its nominating and corporate governance committee. The statement confirmed Francesca Galante as a new independent non-executive director of Melco Resorts and Entertainment Ltd.

Galante will also take a seat on the gaming company’s compensation committee, as reported by the statement. Galante is a co-founder of First Growth Real Estate, which gives advice on arranging and restructuring real estate structured debt in Europe and has been a partner in the firm since 2010.

Melco Resorts chairman and chief executive, Lawrence Ho Yau Lung, said: “She brings a wealth of experience, and will also provide a fresh and unique perspective to Melco’s board.”

Ho added: “Reflecting our continued commitment to best corporate governance practices, with Francesca’s appointment, Melco’s board now comprises of a majority of independent directors.”

Recently, during a filing from the company to the Hong Kong Stock Exchange, it was revealed that the company’s profit before tax reached the €120.3 million mark, considerably up from the €43.7 registered during the same period a year before. Revenue reached €2.1, which represents a 1.6% decrease year-on-year, while adjusted EBITDA increased by 16.7% to €601 million.

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