Melco Announces Appointment of New Independent Non-Executive Director

Rhea-AI Summary

Melco Resorts & Entertainment (NASDAQ: MLCO) has appointed John Peter Ben Wang as an independent non-executive director effective June 13, 2025. Wang will serve as chairman of the audit and risk committee and join the compensation committee and nominating and corporate governance committee. He qualifies as an audit committee financial expert and previously served as a director at Melco from 2006 to 2016. Wang's experience includes roles as Deputy Chairman at Summit Ascent Holdings and CFO of Melco International Development. He is a chartered accountant with extensive experience in finance, accounting, and investment banking, having qualified with the Institute of Chartered Accountants in England and Wales in 1985. He holds a bachelor's degree in accounting from the University of Kent.

Positive

• Appointment of a highly qualified director with previous experience at Melco (2006-2016)
• New director brings substantial expertise in finance, accounting and investment banking
• Wang qualifies as an audit committee financial expert, strengthening financial oversight

Negative

• None.

MACAU, June 13, 2025 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”), a developer, owner, and operator of integrated resort facilities in Asia and Europe, today announced the appointment of Mr. John Peter Ben Wang as an independent non-executive director of the Company, effective as of June 13, 2025. In addition, Mr. Wang has been appointed as the chairman of the Company’s audit and risk committee and a member of each of the Company’s compensation committee and nominating and corporate governance committee. The board of directors of the Company has also determined that Mr. Wang qualifies as an “audit committee financial expert” as defined in Item 16A of Form 20-F.

Mr. Wang previously served as a director of the Company from November 2006 to August 2016. From 2011 to 2019, Mr. Wang served as Deputy Chairman and Executive Director of Summit Ascent Holdings Limited, a company listed on the Stock Exchange of Hong Kong Limited. Mr. Wang also served as the chief financial officer of Melco International Development Limited from 2004 to 2009. Prior to that, Mr. Wang held senior positions at financial institutions and has substantial experience in finance, accounting and investment banking. Mr. Wang qualified as a chartered accountant with the Institute of Chartered Accountants in England and Wales in 1985. He graduated from the University of Kent at Canterbury in the United Kingdom with a bachelor’s degree in accounting in July 1982.

Mr. Lawrence Ho, our chairman and chief executive officer, stated “Melco is delighted to welcome John Wang as one of our independent non-executive directors. His qualifications and experiences will contribute greatly to the Company.”

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) changes in the gaming market and visitations in Macau, the Philippines and the Republic of Cyprus, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (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 City of Dreams (www.cityofdreamsmacau.com) and Altira Macau (www.altiramacau.com), integrated resorts located in Cotai and Taipa, Macau, respectively. Its business also includes the Grand Dragon Casino, a casino located in Taipa, Macau and Mocha Clubs (www.mochaclubs.com), the largest non-casino based operator of electronic gaming machines in Macau. In addition, the Company operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, the Company operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company operates City of Dreams Mediterranean, an integrated resort in Limassol, in the Republic of Cyprus (www.cityofdreamsmed.com.cy) and licensed satellite casinos in other cities in Cyprus (the “Cyprus Casinos”). For more information about the Company, please visit www.melco-resorts.com.

The Company is majority owned by Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, which is in turn majority 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:
Jeanny Kim
Senior Vice President, Group Treasurer
Tel: +852 2598 3698
Email: jeannykim@melco-resorts.com    

For media enquiries, please contact:
Chimmy Leung
Executive Director, Corporate Communications
Tel: +852 3151 3765
Email: chimmyleung@melco-resorts.com

FAQ

Who is the new independent director appointed to Melco Resorts (MLCO)?

John Peter Ben Wang was appointed as an independent non-executive director of Melco Resorts, effective June 13, 2025.

What positions will John Wang hold at Melco Resorts (MLCO)?

Wang will serve as chairman of the audit and risk committee and member of both the compensation committee and nominating and corporate governance committee.

What is John Wang's previous experience with Melco (MLCO)?

Wang previously served as a director at Melco from 2006 to 2016 and was CFO of Melco International Development from 2004 to 2009.

What are John Wang's qualifications and professional background?

Wang is a chartered accountant qualified with the Institute of Chartered Accountants in England and Wales, with extensive experience in finance, accounting, and investment banking. He holds a bachelor's degree in accounting from the University of Kent.