{"id":13127,"date":"2021-01-07T11:59:44","date_gmt":"2021-01-07T11:59:44","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=13127"},"modified":"2026-04-23T22:52:57","modified_gmt":"2026-04-24T01:52:57","slug":"mgm-remains-committed-to-macau-after-investor-urged-to-sell","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-remains-committed-to-macau-after-investor-urged-to-sell","title":{"rendered":"MGM “remains committed to Macau” after investor urged to sell"},"content":{"rendered":"\n

MGM Resorts International board of directors has answered the requirement of an investor to sell a part of its MGM China property.<\/p>\n\n\n\n\n\n\n\n

Macau.- The MGM Resorts International board of directors has underlined its “commitment” to Macau after its largest stakeholder demanded a sale of 20 per cent of MGM China’s shares.<\/p>\n\n\n\n

The company received a letter from Snow Lake Capital Limited, an Asian investment management firm, urging it to sell 20 per cent of local gaming concessionaire MGM China to a Chinese company as a strategic investor.<\/p>\n\n\n\n

Snow Lake Capital owns 285.4 million common shares of MGM China Holdings Limited, approximately 7.5 per cent of the outstanding shares making it the largest public shareholder of MGM China.<\/p>\n\n\n\n

View also: Pansy Ho\u2019s PR firm signs agreement with MGM China<\/a>. <\/em><\/strong><\/p>\n\n\n\n

In its letter, Snow Lake Capital said: “We have been long-term investors in the Macau gaming industry. We think it is in MGM Resorts International\u2019s best interest to introduce a leading Chinese consumer internet or travel and leisure company as a 20 per cent strategic shareholder in MGM China.<\/p>\n\n\n\n

“As discussed previously with MGM Resorts International Chief Executive Officer, William Hornbuckle, we believe such a transaction will create a win-win transaction for all parties involved and deliver significant shareholder value to both companies.”<\/p>\n\n\n\n

The investor has presented some “suitable candidates” which it believes could complement MGM China in diversifying to non-gaming, including Chinese travel and internet platforms such as Meituan and Trip.com, leading Chinese hotel chains such as Huazhu Group, or culture and tourism project operators such as Sunac China.<\/p>\n\n\n\n

In its response to the letter, the MGM Resorts board of directors stated that it “appreciates continued constructive engagement with MGM China shareholders.”<\/p>\n\n\n\n

MGM Chinas\u2019 total revenue in the first nine months of 2020 stood at HK$2.73bn, down by 83.9 per cent year-on-year as the pandemic disrupted the local gaming sector.<\/p>\n","protected":false},"excerpt":{"rendered":"

MGM Resorts International board of directors has answered the requirement of an investor to sell a part of its MGM China property.<\/p>\n","protected":false},"author":2,"featured_media":13130,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"MGM Resorts International's board has acknowledged a demand from its largest public shareholder, Snow Lake Capital, to divest 20% of MGM China to a Chinese strategic investor. Snow Lake Capital advocates for this transaction to enhance shareholder value and facilitate non-gaming diversification, citing potential partners like Meituan or Trip.com, amidst significant revenue decline for MGM China in 2020.","focusai_entities":"MGM Resorts International, MGM China, Snow Lake Capital Limited, MGM China Holdings Limited, William Hornbuckle, Pansy Ho, Meituan, Trip.com, Huazhu Group, Sunac China","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"MGM China Valuation Impact?","query":"What are the projected valuation impacts for MGM Resorts International and MGM China Holdings Limited should a 20% stake be divested to a strategic Chinese investor, considering current market conditions and non-gaming diversification potential?"},{"label":"Regulatory Approval Process?","query":"What specific regulatory compliance and governance frameworks would govern the proposed 20% stake sale of MGM China to a Chinese entity, and what is the anticipated timeline for such approvals in Macau?"}],"footnotes":""},"categories":[160,157,16338],"tags":[23907,23906],"class_list":["post-13127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-business-news","category-east-asia-news","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=13127"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13127\/revisions"}],"predecessor-version":[{"id":13381,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13127\/revisions\/13381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/13130"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=13127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=13127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=13127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}