Melco Resorts & Entertainment Announces Share Purchase and Award Program
July 08 2021 - 5:27AM
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco”
or the “Company”) today announced that it has adopted a Share
Purchase and Award Program 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 Program applies to
eligible employees who agreed in 2020, at the height of the
COVID-19 pandemic, to participate in the Company’s voluntary leave
program, one of a series of measures taken by the Company to
proactively manage costs in the face of the unprecedented
challenges of the pandemic.
Under the Share Purchase and Award Program, an
eligible employee is invited to use a portion of his or her base
salary during the term of the program, which runs from July 2021 to
June 2022, to purchase and receive a grant of restricted shares
under the Melco Resorts 2011 Share Incentive Plan, with an
aggregate value equal to 200% of the amount of base salary so
applied as at the grant date. The maximum amount of restricted
shares which may be issued under the Share Purchase and Award
Program represents less than 0.50% of the Company’s total shares
outstanding as of July 8, 2021.
Mr. Lawrence Ho, Chairman & CEO of
Melco Resorts & Entertainment, said, “The Share
Purchase and Award Program demonstrates our recognition of the
dedication and commitment our colleagues have demonstrated during
the height of the COVID-19 pandemic last year. 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. Our
colleagues are always the single most important ingredient to
delivering future success.”
Safe Harbor Statement
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Melco Resorts & Entertainment Limited (the
“Company”) may also make forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the “SEC”),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company’s beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, and a number
of factors could cause actual results to differ materially from
those contained in any forward-looking statement. These factors
include, but are not limited to, (i) the global pandemic
of COVID-19, caused by a novel strain of the coronavirus,
and the continued impact of its consequences on our business, our
industry and the global economy, (ii) growth of the gaming
market and visitations in Macau, the Philippines and the Republic
of Cyprus, (iii) capital and credit market volatility,
(iv) local and global economic conditions, (v) our
anticipated growth strategies, (vi) gaming authority and other
governmental approvals and regulations, and (vii) our future
business development, results of operations and financial
condition. In some cases, forward-looking statements can be
identified by words or phrases such as “may”, “will”, “expect”,
“anticipate”, “target”, “aim”, “estimate”, “intend”, “plan”,
“believe”, “potential”, “continue”, “is/are likely to” or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company’s
filings with the SEC. All information provided in this press
release is as of the date of this press release, and the Company
undertakes no duty to update such information, except as required
under applicable law.
About Melco Resorts & Entertainment
Limited
The Company, with its American depositary shares
listed on the Nasdaq Global Select Market (Nasdaq: MLCO), is a
developer, owner and operator of integrated resort facilities in
Asia and Europe. The Company currently operates Altira Macau
(www.altiramacau.com), an integrated resort located at Taipa, Macau
and City of Dreams (www.cityofdreamsmacau.com), an integrated
resort located in Cotai, Macau. Its business also includes the
Mocha Clubs (www.mochaclubs.com), which comprise the largest
non-casino based operations of electronic gaming machines in Macau.
The Company also majority owns and operates Studio City
(www.studiocity-macau.com), a cinematically-themed integrated
resort in Cotai, Macau. In the Philippines, a Philippine subsidiary
of the Company currently operates and manages City of Dreams Manila
(www.cityofdreamsmanila.com), an integrated resort in the
Entertainment City complex in Manila. In Europe, the Company is
currently developing City of Dreams Mediterranean
(www.cityofdreamsmed.com.cy) in the Republic of Cyprus, which is
expected to be the largest and premier integrated destination
resort in Europe. The Company is currently operating a temporary
casino, the first authorized casino in the Republic of Cyprus, and
is licensed to operate four satellite casinos (“Cyprus Casinos”).
Upon the opening of City of Dreams Mediterranean, the Company will
continue to operate the satellite casinos while operation of the
temporary casino will cease. For more information about the
Company, please visit www.melco-resorts.com.
The Company is strongly supported by its single
largest shareholder, Melco International Development Limited, a
company listed on the Main Board of The Stock Exchange of Hong Kong
Limited and is substantially owned and led by Mr. Lawrence Ho, who
is the Chairman, Executive Director and Chief Executive Officer of
the Company.
For the investment community, please
contact:Robin YuenDirector, Investor RelationsTel: +852
2598 3619Email: robinyuen@melco-resorts.com
For media enquiries, please
contact:Chimmy LeungExecutive Director, Corporate
CommunicationsTel: +852 3151 3765Email:
chimmyleung@melco-resorts.com
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