Thursday, May 26, 2022

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China police catch man suspected of double MGM Cotai homicide

Police in Guangdong have detained a man suspected of killing two women in an MGM Cotai hotel room earlier this month, local media reports. 

MGM China board agrees to grant 480,000 share options

MGM China said its board of directors has agreed to grant 480,000 share options to eligible staff members, not including its CEO or directors.

Fitch maintains negative ratings watch on MGM Resorts on concession risks

Fitch Ratings has maintained its negative ratings watch on MGM Resorts International, due mainly to  regulatory uncertainty relating to MGM China’s gaming concession in Macau. 

MGM China hosts 10th business matching session to help SMEs

MGM China said it collaborated with Macao Chamber of Commerce (MCC) and 12 local youth associations to co-organize “MGM SME Business Matching - Young Entrepreneur Session”, with the support of the Economic and Technological Development Bureau (DSEDT), Macao Trade and Investment Promotion Institute (IPIM) and Macau Productivity and Technology Transfer Center (CPTTM).

MGM Resorts 1Q22 tops analysts’ forecasts on booming U.S., but Macau still facing headwinds

Shares in MGM Resorts gained on Tuesday after the company posted stronger-than-expected 1Q22 earnings, helped by its U.S. operations, as Macau continues to lag.

MGM China reports 25 percent drop in GGR for 1Q22

First-quarter market-wide GGR was down by 25% year-over-year to MOP17.8 billion while daily GGR was at 25% of 2019 fourth-quarter pre-pandemic level, MGM China Holdings Limited announced in a filing for the first quarter of 2022.

MGM Resorts expands online with $607m acquisition of LeoVegas

MGM Resorts International said it's expanding in the online space with the $607 million acquisition of LeoVegas AB.

MGM Resorts gets $59m 1Q22 distribution from MGM Growth Properties

MGM Growth Properties, a real estate investment trust, said it had paid a cash distribution of $142.1 million for the first quarter, with $59 million going to shareholder MGM Resorts. 

MGM wins Bronze for Asia’s Best Sustainability Report

Having been a pioneer of green enterprise in the Greater Bay Area, MGM has won the Bronze prize for “Asia’s Best Sustainability Report (First Time)” at the Asia Sustainability Reporting Awards (ASRA) 2021. To date, MGM is Macau’s first and only entity to receive an award by ASRA, one of the world’s most prestigious awards honoring distinguished sustainability reporting.

MGM China confident of meeting retender needs, to pay $5.8m for extension

MGM China said it believes it will be in a position to satisfy the Macau government’s requirements to retender for its concession when they are set out and confirmed it had also agreed to pay MOP47 million ($5.8 million) for an extension.