MGM China IPO Price at $3.6 Billion

Submitted by Aaron Goldstein on

Written by :

Aaron Goldstein

Published on :

MGM China is looking to raise between HK$9.4 billion and HK$11.7 billion (or $1.2 billion to $1.5 billion) in an initial public offering.  Shares were coming in at a reduced price compared to other Macau properties.

Gambling revenues in Macau have increased by 43 percent in the first four months of this year, compared to a year earlier.  The number of visitors arriving from mainland China rose 10.3 percent during the first quarter.

MGM China was set up as a 50-50 joint venture between Las Vegas-based MGM Resorts International and Pansy Ho, daughter of long time Macau gambling mogul Stanley Ho.  In the past month, however, MGM has taken control of the company with ownership at 51 percent. 

- Aaron Goldstein, Gambling911.com

 	 10 Day Free Trial from TollFreeForwarding

Related Content

Prediction Markets

Prediction Markets Have Cost States $600 Million in Lost Tax Revenue Over Last 12 Months

A Supreme Court decision on prediction markets likely won't happen until late 2027, if at all.
AI gaming

Kaizen Gaming Acquires GameplAI to Accelerate AI‑Driven Sports Trading Innovation

Kaizen Gaming, one of the world’s leading GameTech companies, announces today the acquisition of GameplAI (“GP”), the AI-driven sports trading and analytics provider.
Tilman Fertitta

Houston Rockets Owner Poised to Buy Caesars for $7 Billion

Caesars shares shot up nearly 5% on the news.
FanDuel

FanDuel Casino Launches Most Generous Month of Rewards in Company History

FanDuel Casino Rewards Club celebrates its first anniversary on April 1st. To mark the occasion, FanDuel launched an ambitious initiative: 100 million bonus spins distributed to players.