MACAU, July 8th, 2021 (GLOBE NEWSWIRE) – Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”) announced today that it has launched a share purchase and incentive program to promote engagement and to honor the commitment of its employees and give eligible employees the opportunity to benefit from the company’s long-term growth.
The share purchase and rewards program applies to eligible employees who agreed to participate in the company’s voluntary vacation program in 2020 at the height of the COVID-19 pandemic, one of a number of proactive cost control measures the company has undertaken in the face of the unprecedented Pandemic challenges.
As part of the Share Purchase and Rewards Program, an eligible employee will be invited to use a portion of their base salary to purchase and grant restricted shares during the term of the program, which runs from July 2021 to June 2022, to purchase and grant restricted shares to the Melco Resorts 2011 Share Incentive Plan a total of 200% of the base salary applicable at the time of grant. The maximum amount of blocked shares that can be issued under the share purchase and incentive program is less than 0.50% of the company’s total outstanding shares as of July 8, 2021.
Mr. Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment, said: “The Share Purchase and Award Program shows our recognition of the dedication and dedication our colleagues showed during the height of the COVID-19 pandemic last year. As the pandemic gradually subsides, we would like to express our gratitude and appreciation to all of our colleagues and ensure that they have a chance to benefit from the company’s long-term growth. Our colleagues are always the most important ingredient for future success. “
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made in accordance with the “safe harbor” provisions of the US 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 Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials, and in oral statements their 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 statements. 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 ongoing impact of its effects on our business, industry and the global economy, (ii) growth in the gaming market, and Visitor numbers 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) gambling authority and other government approvals and regulations, and (vii) our future Business development, operating results and financial position. In some instances, forward-looking statements may include words or expressions such as “may,” “will,” “expect,” “anticipate,” “aim,” “aim,” “estimate,” “intend,” “plan,” “believe” , “Potentially”, “further”, “is / are likely” or other similar expressions. For more information about these and other risks, uncertainties, or factors, see the company’s filings with the SEC. All information in this press release is as of the date of this press release and the company undertakes no obligation to update this information unless required by applicable law.
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About Melco Resorts & Entertainment Limited
The company, whose American Depositary Shares are listed on the Nasdaq Global Select Market (Nasdaq: MLCO), is a developer, owner and operator of integrated resort properties in Asia and Europe. The company currently operates Altira Macau (www.altiramacau.com), an integrated resort in Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com), an integrated resort in Cotai, Macau. The business also includes the Mocha Clubs (www.mochaclubs.com), which comprise the largest non-casino based electronic gaming machine operation in Macau. The company also majority-owned and operated Studio City (www.studiocity-macau.com), an integrated movie-style resort in Cotai, Macau. In the Philippines currently operates and manages a Filipino subsidiary of 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 leading integrated resort in Europe. The Company currently operates a Temporary Casino, the first authorized casino in the Republic of Cyprus, and is licensed to operate four satellite casinos (“Cyprus Casinos”). After City of Dreams Mediterranean opens, the company will continue to operate the satellite casinos while the temporary casino ceases to operate. Further information about the company can be found at www.melco-resorts.com.
The company is heavily backed by its largest single shareholder, Melco International Development Limited, a company listed on the Main Board of the Stock Exchange of Hong Kong Limited and largely owned and run by Mr. Lawrence Ho, the Chairman and Executive Director, and Chief Executive officer of the company.
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