MGM China issues $500M in notes
MGM China, the Macau gambling operator, listed $500 million in 7.125 percent senior notes due 2031 on Thursday, June 27th.According to a filing with the Hong Kong...
MGM China eyes Thai casino license for Macau Resort promotion
MGM China is interested in applying for a casino license in Thailand as a way to market its Macau resorts to Thai tourists.
Co-Chairperson of MGM China Pansy Ho is rumored to have met with Governor Thapanee Kiatphaibool of the Tourism Authority of Thailand (TAT) recently to discuss promoting travel to Macau in Thailand and exploring possible avenues for the gambling company to integrate into the rapidly developing entertainment district scheme in Thailand, which includes plans for casinos. Two integrated resorts in Macau are operated by MGM China, which is 56% owned by MGM Resorts International, based in Las Vegas.
According to the Macau Government Tourism Office (MGTO), through the first five months of this year, tourists from Thailand made up the fifth-largest block of arrivals to Macau. This shows that MGM China’s attempts to attract more Thai visitors to Macau are legitimate.
Since May was the strongest month for the six Macau operators’ combined GGR since January 2020, those efforts are now being expedited. That profit was largely driven by mass-market participants, who are likely primarily Thai tourists visiting Macau. MGM China has a sales representative in Thailand, and more related staff members are anticipated there soon.
Although no specific information has surfaced as of yet, MGM Resorts International has already made it apparent that it is interested in Thailand. It could make more sense for MGM China to represent the massive gambling business in Thailand, given the US-based operator is now developing an integrated resort in Osaka and its China affiliate is searching for strategies to increase the number of guests to its Macau casino hotels.
MGM Resorts hopes for bright future amid Vegas crisis
The company has maintained that the “future is bright” as it lauded its iGaming and sports betting venture, which was a joint venture with Entain, and praised the work it has...
