Lawrence Ho

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Lawrence Ho
Lawrence Ho, 2007, Horasis.jpg
Born 何猷龍
Lawrence Ho Yau Lung

1976 (age 41–42)
Hong Kong
Residence Hong Kong
Alma mater University of Toronto
Occupation

Chairman and CEO of Melco International

Chairman and CEO of Melco Crown Entertainment
Net worth US$1.47 billion (January 2017)[1]
Spouse(s) Sharen Lo
(2000.11-)
Children 1 daughter
Parent(s) Stanley Ho
Lucina Laam

Lawrence Ho Yau Lung (Chinese:何猷龍,born 1976) is a Hong Kong billionaire businessman, the chairman and CEO of Melco International and Melco Crown Entertainment. He has been called a "game changer" in the Asian gambling industry.[2]

Early life and education[edit]

Ho is the only son and the youngest child of the Hong Kong- and Macau-based businessman Stanley Ho and his second wife Lucina Laam King Ying.[3]

Ho moved to Canada as a child and graduated from the University of Toronto with a bachelor's degree in commerce in 1999.[4] He was awarded an honorary doctorate by Edinburgh Napier University, Scotland in July 2009.[5]

Career[edit]

Ho is the chairman and CEO of Melco International Development Limited and Melco Crown Entertainment. Ho is the chairman and a non-executive director of Summit Ascent Holdings Limited, a company listed on the Main Board of the Stock Exchange, since 2013.

In 2001, Ho took over the loss making company Melco International Development Limited. Melco has transformed and re-shuffled the business focus on to leisure and entertainment. Melco has developed its first casino hotel in Taipa, Macau (now known as Altira Macau, a Forbes 5-Star hotel), the acquisition of one of the only six Macau gaming concessionaires and sub-concessionaries, and forming a joint venture (now known as Melco Crown Entertainment) with the Australia billionaire, James Packer’s, Crown Limited (formerly Publishing and Broadcasting Ltd), for Asian gambling business opportunities. In 2006, Melco Crown Entertainment was publicly listed on NASDAQ (ticker symbol: MPEL) and was the fourth-largest IPO in the US and the then largest ever NASDAQ IPO for an Asian company.[1]

In 2009, Melco opened its casino resort City of Dreams Macau. In February 2015, Melco opened its first overseas integrated resort, City of Dreams Manila, in the Philippines. On 27 October 2015, Studio City, a US$3.2 billion Hollywood-inspired integrated resort majority owned and operated by Melco, was officially opened in Cotai. Ho served as the executive producer for the Studio City-inspired short film "The Audition", Macau’s first Hollywood-produced short-movie starring legends Robert De Niro, Leonardo DiCaprio, Brad Pitt and Academy-award-winning director Martin Scorsese.

Melco also holds interest in Tigre de Cristal, a gambling and resort development project located in the Primorye Integrated Entertainment Zone in Vladivostok, Russia, which was successfully opened on 11 November 2015.[6]

In May 2016, Melco became the single largest shareholder of Melco Crown Entertainment, further bolstering the group’s financial position through incorporation of the accounting subsidiary’s full financial contributions. Ho was re-designated as chairman, and will continue to be the CEO of Melco Crown Entertainment.

Through different companies, the group is also actively pursuing expansion opportunities in Spain[7] and Cyprus.[8]

As of January 2017, Ho has an estimated net worth of US$1.47 billion.[1]

Other activities and honors[edit]

Ho is a member of the National Committee of the Chinese People’s Political Consultative Conference.[1] and serves on numerous boards and committees of privately held companies in Hong Kong, Macau and mainland China.

Institutional Investor honored him as the "Best CEO" in 2005. He also received the "5th China Enterprise Award for Creative Businessmen" by the China Marketing Association and China Enterprise News, "Leader of Tomorrow" by Hong Kong Tatler and the "Directors of the Year Award" by the Hong Kong Institute of Directors in 2005.[1]

Ho was selected as one of the "Ten Outstanding Young Persons Selection 2006", organized by Junior Chamber International Hong Kong.[9] In 2007, he was a finalist in the "Best Chairman" category in the "Stevie International Business Awards" and one of the "100 Most Influential People across Asia Pacific" by Asiamoney magazine. In 2008, he was granted the "China Charity Award" by the Ministry of Civil Affairs of China. And in 2009, Ho was selected as one of the "China Top Ten Financial and Intelligent Persons" judged by a panel led by the Beijing Cultural Development Study Institute and Fortune Times, and was named "Young Entrepreneur of the Year" at Hong Kong’s first Asia Pacific Entrepreneurship Awards.

In 2014, Ho was selected by FinanceAsia magazine as one of the "Best CEOs in Hong Kong" for the fifth time, and was honored as one of the recipients of the Asian Corporate Director Recognition Awards for three consecutive years. He was also awarded "Asia’s Best CEO" at the Asian Excellence Awards by Corporate Governance Asia magazine for the fourth time in 2015.[10]

Personal life[edit]

Ho is married to Sharen Lo Shau Yan, granddaughter of the founder of beverage maker Vitasoy, Kwee Seong Lo. They have one daughter,[1] born in September 2006.

References[edit]

  1. ^ a b c d e f "Lawrence Ho". Forbes. 2016. Retrieved 18 January 2017. 
  2. ^ "Game Changer". CX Discovery 2015
  3. ^ Fellman, Joshua; Chan, Vinicy. "Lawrence Ho to Invest in $630 Million Russian Casinos". Bloomberg.com. Retrieved 2016-08-10. 
  4. ^ "Lawrence Ho, Melco CEO | Profile by Cynthia Macdonald | Crown Macau Casino | Summer 2016 | University of Toronto Magazine". magazine.utoronto.ca. Retrieved 2016-08-10. 
  5. ^ "Melco Crown Entertainment". www.melco-crown.com. Retrieved 2016-08-10. 
  6. ^ Ho, Yvonne Lee And Prudence (2013-07-02). "Macau Casino Mogul Lawrence Ho to Operate New Russian Casino". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-08-10. 
  7. ^ "Connected Transaction Proposed Investment in Gaming and Resort Development Project in the Russian Federation" (PDF). Melco International Development Limited. 2013. 
  8. ^ "Tender Application for Licence of Integrated Casino Resort" (PDF). Melco International Development Limited. 2016. 
  9. ^ "Biography of Lawrence Ho : The Wharton Global Alumni Forum-Hong Kong". www.whartonhongkong07.com. Retrieved 2016-08-10. 
  10. ^ "Summit Ascent Holdings Limited". www.saholdings.com.hk. Retrieved 2016-08-10.