Pansy Ho Chiu King continues to reduce MGM Resorts stake

Pansy Ho Chiu King has reduced her MGM Resorts International stake to 0.82 per cent after selling an aggregate of 204,459 shares.

Macau.- Pansy Ho Chiu King, co-chairperson and an executive director of Macau casino operator MGM China Holdings, has sold US$9m worth of shares in MGM China’s parent company, MGM Resorts International.

Chiu King has now reduced her stake to 0.82 per cent. She previously sold 467,719 shares in the US firm.

In May, she made a similar transaction and grossed approximately US$86.05m through the sale of an aggregate of 2,016,788 shares.

She started to reduce her stake in MGM Resorts last year when she sold US$140.2m worth of shares in December, reducing her stake from 3.13 per cent to 2.26 per cent. 

Ho continues to hold a 22.49 per cent stake in MGM China. In January, she signed an agreement through Occasions Asia Pacific to provide PR and marketing services to MGM Grand Paradise, a subsidiary of MGM China.