Melco Crown PH shells out more shares to employees; Gov’t wants special investment district in Pagcor Entertainment City

Melco Crown Philippines will issue 45 million more shares to its employees under the company’s share incentive plan.

“The board of directors approved the issuance of 45,000,000 shares to eligible employees, consultants and directors of MCP, its parent and subsidiaries, under the same terms and conditions of MCP’s share incentive plan,” the company told the Philippine Stock Exchange on Wednesday.

Two years ago, Melco offered 181.24 million shares—120.83 million ordinary shares offered at P1 ($0.021) each and 60.41 million restricted shares—to its people.

MCP is the Philippine subsidiary of Macau-based Melco Crown Entertainment. It also operates the City of Dreams Manila, which, incidentally, had just laid off around 100 people or less than 2 percent of its total manpower as part of the company’s cost rationalization.