Executives increase their stakes in gaming stocks after price fall

    Based on filings to the stock exchange for the week May 12 to 16, directors of gaming companies Melco International Development, Macau Legend and China LotSynergy boosted their stakes after share prices have taken a tumble in recent weeks. Chief executive of Macau Legend, David Chow Kam-fai, bought 24.8 million shares at an average price of HK$5.79, increasing his holding to 31.35 percent. Melco chief executive, Lawrence Ho Yau-lung, bought 2.8 million shares at an average price of HK$23.59 each, his first trade since September 2011. Overall, some 46 companies recorded 295 purchases worth HK$648 million ($83.6 million), up from the previous week’s 32 firms and 150 purchases.