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MGM China Hong Kong IPO Likely in 1st Quarter 2011

Written by:

Aaron Goldstein

Published on:

Nov/30/2010

Pansy Ho, daughter of Macau casino tycoon Stanley Ho and a partner in MGM Resorts’ Macau, tells Reuters news service on Wednesday that the company is likely to go on the Hong Kong Exchange within the next four months.

“Our anticipation is around the first quarter (of 2011),” Ho told Reuters.

No word on an exact figure for the Initial Public Offering (IPO).

MGM as a company has managed to narrow losses courtesy of its strong performance in the Chinese gambling haven.

The company posted operating income of US$61 million in the 3^rd quarter for its Macau property, up from US$50 million the year prior.

- Aaron Goldstein, Gambling911.com Business Reporter

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