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MACAU - Casino operator Melco Resorts & Entertainment Limited (NASDAQ:MLCO) announced the appointment of John Peter Ben Wang as an independent non-executive director, effective June 13, 2025.
Wang will serve as chairman of the company’s audit and risk committee and join both the compensation committee and nominating and corporate governance committee. The board has determined that Wang qualifies as an audit committee financial expert.
This marks Wang’s return to Melco’s board, where he previously served from November 2006 to August 2016. His professional background includes roles as Deputy Chairman and Executive Director of Summit Ascent Holdings Limited from 2011 to 2019 and chief financial officer of Melco International Development Limited from 2004 to 2009.
Wang brings substantial experience in finance, accounting and investment banking. He qualified as a chartered accountant with the Institute of Chartered Accountants in England and Wales in 1985 and holds a bachelor’s degree in accounting from the University of Kent at Canterbury.
Lawrence Ho, Melco’s chairman and chief executive officer, expressed satisfaction with the appointment in the company’s press release statement.
Melco Resorts & Entertainment operates several integrated resort facilities across Asia and Europe, including City of Dreams and Altira Macau in Macau, City of Dreams Manila in the Philippines, and City of Dreams Mediterranean in Cyprus.
In other recent news, Melco Resorts & Entertainment Limited has released its unaudited financial results for the first quarter of 2025. While specific figures were not disclosed, the report provides insights into the company’s performance at the start of the year. Additionally, Melco Resorts announced the appointment of a new independent non-executive director to its board, aiming to enhance corporate governance and compliance with regulatory requirements. The company also shared updates on its Mocha Clubs and Grand Dragon Casino, focusing on operational changes, though specific details were not provided. In analyst news, BofA Securities raised the price target for Melco Resorts shares to $6.60, citing a higher expected market share in Macau’s Gross Gaming Revenue. The analyst maintained a Neutral rating on the stock, noting the company’s current focus on debt repayment over dividend distribution. Furthermore, Melco Resorts completed a regulatory filing with the SEC, signed by its Chief Legal Officer, demonstrating its adherence to U.S. financial reporting standards. These developments reflect Melco Resorts’ ongoing efforts to maintain transparency and adapt to market conditions.
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