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    2282   KYG607441022

MGM CHINA HOLDINGS LIMITED

(2282)
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Delayed Hong Kong Stock Exchange  -  03:08 2022-12-02 am EST
6.030 HKD   +3.97%
11/28MarketScreener's World Press Review : November 28, 2022
MS
11/28MGM RESORTS INTERNATIONAL FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits
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11/28MGM China Gets 10-Year Provisional Gaming Concession from Macau Government
MT
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MGM China to inject $594 million into Macau unit to re-tender for casino license

08/21/2022 | 09:08am EST
FILE PHOTO: Women and their children walk past the MGM Grand Macau resort in Macau

HONG KONG (Reuters) - Casino operator MGM China Holding said it will inject 4.8 billion patacas ($594 million) into its MGM Grande Paradise unit as it prepares to re-tender for a licence to operate its gaming business in Macau.

Under the terms of a revised gaming law released by Macau's legislature earlier this year, a casino needs a minimum capital requirement of 5 billion patacas, and the managing director of the concessionaire must be a Macau permanent resident holding at least 15% of its capital.

MGM China, the Chinese arm of U.S. gambling giant MGM Resorts International, said in a filing on Sunday that if the company is awarded the new concession, co-chairperson Pansy Ho will fill that role.

MGM Grande Paradise will issue 4.07 million Class A shares to the company at an aggregate subscription price of 4.07 billion patacas, MGM China said in the filing, and issue and transfer another 730,000 Class B shares to Ho.

After the completion of the deal, MGM China and Ho's holdings in MGM Grande Paradise will increase to 84.6% and 15% respectively, while MGM Resort International's stake will drop to 0.4% from 10%.

($1 = 8.0810 patacas)

(Reporting by Clare Jim; Editing by Jan Harvey)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
MGM CHINA HOLDINGS LIMITED 3.97% 6.03 Delayed Quote.27.48%
MGM RESORTS INTERNATIONAL -0.51% 37.08 Delayed Quote.-16.96%
PARADISE CO., LTD. 0.87% 17400 End-of-day quote.16.39%
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More news
Financials
Sales 2022 5 822 M 748 M 748 M
Net income 2022 -4 915 M -631 M -631 M
Net Debt 2022 25 696 M 3 301 M 3 301 M
P/E ratio 2022 -4,64x
Yield 2022 -
Capitalization 22 914 M 2 944 M 2 944 M
EV / Sales 2022 8,35x
EV / Sales 2023 3,63x
Nbr of Employees 9 851
Free-Float 21,6%
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Technical analysis trends MGM CHINA HOLDINGS LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 6,03 HKD
Average target price 5,42 HKD
Spread / Average Target -10,1%
EPS Revisions
Managers and Directors
Zhi Qi Wang President & Chief Operating Officer
Chao Chiung Ho Co-Chairman
William Joseph Hornbuckle Co-Chairman
Sze Wan Lam Independent Non-Executive Director
Russell Francis Banham Independent Non-Executive Director
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