MGM China’s Chairperson Pansy Ho has quelled rumors that she is planning to sell her stake in the company, after a recent share movement disclosed by media.
The company dismissed the speculation that Ho was divesting her stake in the gaming operator, following an article that up to 380 million in MGM China shares were placed into the Central Clearing and Settlement System (CCASS). The amount coincides with the number of shares held by Ms. Ho.
The operator has since issued a statement noting that Ho had made a share arrangement with two specific banks – Standard Chartered and BNP Paribas.
MGM China has progressed well out of the pandemic, gaining tables and market share under the new license, and seeing impressive results so far this year.
The 3Q 2023 revenue for the operator hit $812.5 million, up 10 percent compared to the same quarter in 2019.
