MGM China Holdings has acquired MGM Asia Pacific Limited from a company indirectly wholly owned by MGM Resorts International for $20 million.Â
The deal brings a mainland China hotel-management platform under the Macau casino operator as it seeks to expand in hospitality management and cultural tourism across Greater China.
The Macau-listed operator said it entered into the share purchase agreement on June 30th with MGM Hospitality International Holdings, an Isle of Man-incorporated investment holding company. Completion took place immediately after signing, with MGM Asia Pacific becoming a wholly owned subsidiary of MGM China and its financial results to be consolidated into MGM China’s accounts.
The seller is indirectly wholly owned by MGM Resorts, a controlling shareholder of MGM China.
MGM China said the consideration was paid in cash in one lump sum and financed by internal resources. The price was determined after arm’s-length negotiations, taking into account the seller’s cumulative investment costs, the financial information of the acquired business, and MGM China’s assessment of the strategic value of the mainland hospitality platform. The seller’s cumulative investment costs were about $15.4 million.
The acquired business is principally engaged in light-asset hotel management and operates through MGM Hospitality Group (Asia Pacific), previously known as Diaoyutai MGM Hospitality. The platform has been developed for about 19 years for MGM-branded projects in mainland China. At the time of the announcement, it had eight operational hotels, more than 12 active projects, and access to more than 1.5 million Mlife loyalty program members.
Examples of MGM/Diaoyutai MGM-branded mainland hotels listed by the group include MGM Grand Sanya, MGM Shanghai West Bund, MGM Qingdao, MGM Shenzhen, Bellagio Shanghai and Mhub by MGM Nanjing Jiangning.
The mainland hospitality platform generates revenue from management fees, technical service fees, marketing fund contributions, Mlife loyalty program fees, sales commissions, distribution fees, corporate training fees and branded-residences-related fees.
MGM Asia Pacific had audited net assets of HK$90.0 million ($11.5 million) as of December 31st, 2025, compared with HK$90.6 million ($11.6 million) a year earlier. MGM Hospitality Group recorded revenue of RMB80.6 million ($11.9 million) in 2025, up from RMB71.9 million ($10.6 million) in 2024. Its net loss widened to RMB7.7 million ($1.1 million) from RMB4.2 million ($621,000).
The transaction comes as MGM Resorts faces a proposed takeover by People Incorporated, which has offered $48.30 per share in cash to acquire all MGM Resorts shares it does not already own. MGM Resorts has said its board is reviewing the non-binding proposal.
Pansy Ho, chairperson and co-executive director of MGM China, separately disposed of her direct holding in MGM Resorts through transactions between May 28th and June 3rd that grossed about $140.1 million.
MGM Resorts holds 55.95 percent of MGM China, while Ho and companies controlled by her hold 22.49 percent of the Macau-listed operator.
