Lawrence Ho

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

1977 (age 41–42)
ResidenceHong Kong[1]
NationalityCanada[2]
Alma materUniversity of Toronto
OccupationMelco International
(CEO and chairman)
Melco Resorts & Entertainment (CEO and chairman)
Net worthUS $2.2 billion (2019)[3]

Lawrence Ho Yau Lung (Chinese: 何猷龍; born 1977) is a Canadian[2] businessman based in Hong Kong.[4][1] In 2001 he took over operations at Melco International,[5] and was later named chairman and CEO.[3][4] He has an estimated net worth of $2.2 billion.[3] Born in Hong Kong from an Eurasian business family, Lawrence Ho is educated in Canada as the alumni of the University of Toronto.

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.[6] He moved to Canada as a child and graduated from the University of Toronto with a bachelor's degree in commerce in 1999.[2] He was awarded an honorary doctorate by Edinburgh Napier University, Scotland in July 2009.[7][5]

Career[edit]

In November 2001 Ho was appointed the group managing director of Melco International Development Limited.[5] Ho began refocusing the company on leisure and entertainment.[4] Ho and Melco International partnered with James Packer's Australian casino company Crown Limited, creating the joint venture Melco Crown Entertainment,[4] with both Ho and Packer appointed co-chairmen.[8] The company began developing its first casino.[4]

He was appointed Melco International's chairman and CEO on March 15, 2006.[5] Melco Crown listed on the NASDAQ in December 2006.[1][4] In July 2007, Melco Crown launched Altira Macau. In 2009, Melco Crown opened the $2.4 billion casino resort City of Dreams Macau in Cotai.[1] Ho oversaw the development of casino resort City of Dreams Manila, which opened in 2015 in the Philippines.[9] Ho also obtained interest in Tigre de Cristal, a casino project in the Primorye Integrated Entertainment Zone in Vladivostok, Russia.[8] Tigre de Cristal opened in October 2015.[1] Ho oversaw Melco's bid to open casinos in Cyprus.[10]

With majority ownership, in October 2015 Melco opened the casino resort Studio City Macau, which was designed with a Hollywood theme and cost $3.2 billion.[1] In 2015 Ho served as the executive producer for the Martin Scorsese short film The Audition,[11] which was filmed to promote the casino's opening. With Ho still Melco International Development's CEO and chairman,[1] in May 2016, Melco International became majority shareholder of its subsidiary Melco Resorts & Entertainment.[12] In 2019, Forbes estimated Ho's net worth at $2.2 billion, and ranked him as the #1008th richest person on the planet.[3]

Boards and committees[edit]

The current chairman of Melco International, Ho is also on the boards of various companies. He is chairman of Maple Peak Investments in Canada[5] and was previously the chairman of Summit Ascent Holdings.[13] He is a member of the National Committee of the Chinese People's Political Consultative Conference.[13][5][4]

Honours[edit]

Ho has won a number of awards for his career with Melco International. Institutional Investor named Ho “Best CEO" of a conglomerate in 2005, and also that year he received the "Directors of the Year Award" from the Hong Kong Institute of Directors and the 5th "China Enterprise Award for Creative Businessmen."[4] In 2006 he was selected as one of “Ten Outstanding Young Persons" by Junior Chamber International Hong Kong.[14] The following year he was named one of the “100 Most Influential People across Asia Pacific” by Asiamoney,[13] and in 2008 he received the “China Charity Award” from the Ministry of Civil Affairs.[5]

In 2009 Ho was named both “Young Entrepreneur of the Year” at the Asia Pacific Entrepreneurship Awards and one of the “Top Ten Financial and Intelligent Persons in China" by the Beijing Cultural Development Study Institute and Fortune Times.[5] Ho was then selected by FinanceAsia as one of the “Best CEOs in Hong Kong”[13] for the fifth time in 2014.[5] He received Asian Corporate Director Recognition Awards by Corporate Governance Asia for three consecutive years.[15] He was also named “Asia’s Best CEO” at the Asian Excellence Awards for the seventh time in 2018.[12]

Personal life[edit]

Ho and his wife Sharen Lo Shau Yan have one daughter.[4]

References[edit]

  1. ^ a b c d e f g Muhammad Cohen (7 January 2016). "Lawrence Ho Bets Big On Small Players". Forbes Asia. No. January 2016. Retrieved 20 May 2019.
  2. ^ a b c "Lawrence Ho, Melco CEO | Profile by Cynthia Macdonald | Crown Macau Casino | Summer 2016". University of Toronto Magazine. Retrieved 2016-08-10.
  3. ^ a b c d "Lawrence Ho". Forbes. Retrieved 20 May 2019.
  4. ^ a b c d e f g h i "Lawrence Ho". Forbes. 2016. Retrieved 18 January 2017.
  5. ^ a b c d e f g h i "Corporate Profile". Annual Report 2016 (PDF) (Report). Melco Group. p. 14. Retrieved 20 May 2019.
  6. ^ Fellman, Joshua; Chan, Vinicy. "Lawrence Ho to Invest in $630 Million Russian Casinos". Bloomberg.com. Retrieved 2016-08-10.
  7. ^ "Melco Crown Entertainment". www.melco-crown.com. Archived from the original on 2016-08-06. Retrieved 2016-08-10.
  8. ^ a b 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.
  9. ^ Gergiou, Georgios (10 January 2018). "Why This Company Is Betting on Tourists Flying to Cyprus From Around the World". Bloomberg. Retrieved 20 May 2019.
  10. ^ "Tender Application for Licence of Integrated Casino Resort" (PDF). Melco International Development Limited. 2016.
  11. ^ Makinen, Julie (27 October 2015). "Did a Chinese casino really just pay $70 million for a 15-minute Martin Scorsese film?". Los Angeles Times. Retrieved 20 May 2019.
  12. ^ a b "Corporate Profile". Melco International. Retrieved 20 May 2019.
  13. ^ a b c d "Lawrence Ho 2015". Milken Institute. Retrieved 20 May 2019.
  14. ^ "Biography of Lawrence Ho : The Wharton Global Alumni Forum-Hong Kong". www.whartonhongkong07.com. Retrieved 2016-08-10.
  15. ^ "Summit Ascent Holdings Limited". www.saholdings.com.hk. Archived from the original on 2016-09-04. Retrieved 2016-08-10.