MGM China

MGM profit in Macau misses market target

MGM China's operations in Macau are facing increasing competition, especially from casinos on the Cotai Strip. Photo: Edward Wong

MGM China, a Macau casino operator, reported third-quarter profit that missed analyst estimates amid rising competition in the world's largest gambling market.

Saturday, 2 November, 2013, 3:13am 1 comment

MGM China builds presence in Cotai strip with new resort

MGM executives and government officials at the groundbreaking ceremony for the casino operator's new resort. Photo: Edward Wong

The joint venture between Pansy Ho Chiu-king and MGM Resorts International now runs one casino on the Macau peninsula. It lacks a presence on the busy Cotai strip, which hosts a cluster of casinos operated by rivals including Sands China and Galaxy Entertainment.

28 Feb 2013 - 5:24am

Business Digest, February 21, 2013

MGM China declares special dividend

Macau casino operator MGM China declared a special dividend of HK$1.02 per share as it posted unaudited earnings before interest, taxes, depreciation and amortisation of HK$5.31 billion last year, up 7.7 per cent from 2011.

21 Feb 2013 - 6:07am

Macau casino resort approval sparks rally in MGM China shares

MGM has clearance to build its first resort in Cotai. Photo: Bloomberg

MGM China, a venture between a Pansy Ho Chiu-king and MGM Resorts International, received formal government approval to build its second resort in Macau. The stock rose strongly.

The venture would pay a land premium of 1.29 billion patacas and annual rent of 2.15 million patacas to develop a five-star hotel and a casino resort, the government's gazette said yesterday.

10 Jan 2013 - 4:21am

Briefs, November 1, 2012

Investors OK takeover bid by News Corp

1 Nov 2012 - 4:48am

SJM to build casino resort at Cotai

The SJM Holdings-owned Grand Lisboa Hotel in Macau. Photo: Felix Wong

Macau casino operator SJM has finally secured a piece of land at Cotai. It is the last to do so among the six gaming companies that are authorised to operate casino games in the enclave.

The flagship company of gaming tycoon Stanley Ho Hung-sun said last night it has accepted a land concession contract from the Macau government and plans to build a casino resort on the Cotai site.

20 Oct 2012 - 11:27am

MGM China bets on new 5-star resort in Cotai

Casino operator MGM China announced yesterday that it would develop a five-star luxury resort and casino with 500 tables in Cotai, the new gaming hot spot in Macau.

The company said it paid 450 million patacas as initial payment for a 25-year land lease from the government. The lease can be extended later.

19 Oct 2012 - 3:33am