{"id":6853,"date":"2020-05-29T08:43:19","date_gmt":"2020-05-29T08:43:19","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=6853"},"modified":"2026-04-24T04:52:14","modified_gmt":"2026-04-24T07:52:14","slug":"mgm-china-casino-shareholders","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-china-casino-shareholders","title":{"rendered":"MGM China confirms final dividend"},"content":{"rendered":"\n

Shareholders have approved the payment of a final dividend of HKD0.083 per share (US$0.01).<\/p>\n\n\n\n\n\n\n\n

Macau.- Casino operator MGM China<\/strong><\/em> announced its shareholders\u00a0have\u00a0approved\u00a0the payment of a final dividend of HKD0.083 per share (US$0.01).<\/p>\n\n\n\n

The dividend payment for to the year ended December 31, 2019 was approved during MGM China\u2019s annual general meeting, and comes amid challenging times for the business and the wider gaming industry.<\/p>\n\n\n\n

The Covid-19 pandemic has severely impacted on operations over the past four months and the long-term impact has yet to be fully understood. <\/p>\n\n\n\n

To help recover from the pandemic, MGM China announced it has been granted <\/strong><\/em><\/a>a new HKD2.34billion (US$301million) revolving credit facility. <\/p>\n\n\n\n

It stated the proceeds of the facility would be used for ongoing working capital needs and general corporate purposes of the group.<\/p>\n\n\n\n

MGM China said in late March it expected to spend around HKD315.4million on the final dividend payment, which represented approximately 16.3 per cent of the company\u2019s profit for calendar-year 2019.<\/p>\n\n\n\n

MGM China operates two properties in the Macau market: MGM Macau on the city\u2019s peninsula; and MGM Cotai in the Cotai district.<\/p>\n\n\n\n

It was announced in April that MGM China\u2019s first-quarter net revenues were reached US$271.9million, down 63 per cent from the prior-year <\/strong><\/em><\/a>quarter due to the Covid-19 pandemic. <\/p>\n","protected":false},"excerpt":{"rendered":"

Shareholders have approved the payment of a final dividend of HKD0.083 per share (US$0.01).<\/p>\n","protected":false},"author":2,"featured_media":6857,"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 China shareholders have approved a final dividend payment for FY2019, despite a significant 63% decline in Q1 net revenues due to the Covid-19 pandemic. Concurrently, the company secured a HKD2.34 billion revolving credit facility to bolster working capital and ensure liquidity amidst challenging market conditions.","focusai_entities":"MGM China, MGM Macau, MGM Cotai","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.95), investor_analyst (1.0), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Dividend policy rationale","query":"What is the strategic rationale behind approving a dividend payment for FY2019, representing 16.3% of profit, given the severe Q1 2020 revenue contraction and the concurrent securing of a new credit facility?"},{"label":"Credit facility utilization","query":"What are the specific allocation priorities for the HKD2.34 billion revolving credit facility beyond general working capital, and how will its utilization impact MGM China's leverage ratios and cost of capital?"}],"footnotes":""},"categories":[160,16338,163,158],"tags":[257],"class_list":["post-6853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","category-slider-home","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6853","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=6853"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6853\/revisions"}],"predecessor-version":[{"id":777008742,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6853\/revisions\/777008742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/6857"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}