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MGM China Holdings Ltd 02282 Stock Quote

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XHKG:02282

Morningstar‘s Stock Analysis 02282

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Macao Has Approved Provisional Gaming Licenses; All Six Existing Players Stay in the Game

Jennifer Song Senior Equity Analyst

Analyst Note

| Jennifer Song |

As expected, the Macao government granted the fresh 10-year gaming concession to the six existing casino operators on a provisional basis. We think the announcement will remove many of the remaining concerns on casino licenses. Although detailed terms of the contracts haven’t been disclosed yet, including the investment pledged by each company and nongaming activities each company planned to develop, we don’t expect material risks toward the finalization of the license grants by the end of December, as Macao’s gaming law amendment has concluded, with major changes in line with majority opinions.

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Key Statistics 02282

Company Profile 02282

Business Description

MGM China is one of six casino licenseholders in Macao, with two integrated resorts in operation. Its MGM Macau casino, in the Macau Peninsula, has 317 gaming tables and 582 hotel rooms, while its new casino complex, MGM Cotai, which opened in February 2018, has 259 gaming tables and over 1,300 rooms.

Contact
Avenida Dr. Sun Yat Sen, Edificio MGM MACAU NAPE
Macao, Macao
T +853 88067811
Industry Resorts & Casinos
Most Recent Earnings
Fiscal Year End Dec 31, 2022
Employees 9,851