By Ben Blaschke
Melco Crown International (MCE), operator of Macau resorts Studio City, City of Dreams and Altira, has announced the granting of Restricted Shares equivalent to 631,470 MCE shares to Chairman and CEO Lawrence Ho.
The shares have been issued under the MCE Share Incentive Plan, “to recognize Mr Ho’s contribution to the success and development of the MCE Group and to incentivize and motivate him to continue to strive for the future development of the MCE Group and its business.”
The Group said the Restricted Shares represent 0.04% of MCE’s issued share capital with a value of HK$30.23 million (US$3.9 million).
It comes after MCE’s majority shareholder, Melco International Development Ltd, announced net profit of HK$10.37 billion for 2016, up from HK$100.9 million 12 months earlier. The earnings announcement included net revenue of HK$23.9 billion including HK$21.79 billion from its casino operations.
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