HONG KONG - a casino Macau joint-venture between the Las Vegas-based MGM Mirage and the daughter of gambling tycoon Stanley Ho plans to raise up to $ 1.5 billion in an initial public offering on the stock exchange of Hong Kong.
Documents posted Thursday on the Web site of resorts said MGM that MGM China Holdings Ltd. intends to sell 760 million shares between Hong Kong and HK $ $12.36 15.34 per share. The IPO would raise HK 11.67 billion ($1.5 billion) to the high price of the page.
In the introduction on the stock exchange, MGM China will become owner of MGM Grand paradise S.A., society of Macao which is the owner of the MGM Grand Macau station and casino and the sub-concession of game related.
MGM Casino is one of the 34 Macau, a special administrative region of China and the only place in the country where the casino game is legal. The company hopes to capture the growing investor interest in Macau game companies who contributed to the growth of the economy since a four-decade casino monopoly was destroyed in 2002.
The former Portuguese colony is now among the best in the world market of game.
In March, casino revenues soared 45 percent the same month last year. In 2010, Macau commissioned 23.5 billion $ in the revenues set, about four times more than 5.8 billion $ of Las Vegas strip.
Market leader SJM Holdings Ltd. is now in competition with rivals including Las Vegas Sands Corp., Wynn Resorts Ltd. and Melco Crown Entertainment Ltd.
Casino of the MGM Macau and hotel resort opened in December 2007 and 1 006 slot machines and 427 gaming tables. A 10-metre gold lion is located on the front. The company requested the permission of the Government build another casino the marshy lands recovered in the district of Macao in Cotai.
MGM Resorts reached an agreement the month latter with partner Pansy Ho who will give it 51 percent property and control the management of the farms of China MGM once it goes public. Ho Pansy will have a stake of 29 percent and other shareholders will own 20 percent participation. Previously, it was split 50 / 50.
Ho Pansy said it agreed to reduce its shareholders as a way to demonstrate its commitment to the partnership. She is co-Chair of the China of MGM with Jim Murren, who is the CEO of MGM Resorts.
She said his role with the company would be "strategic", to assist in a guide to how MGM China in its exploration opportunities in Macao and, hopefully, in the future in greater China, including Taiwan.
Ho Pansy is daughter of Stanley Ho of his second wife 48 years. His father, a Tycoon who is a large part of his fortune to win the Macau Gambling monopoly in 1962, has 16 live children by four women he calls his wives while he is not legally married to each of them.
Stanley Ho is considered the father of the modern game in China. It was also long accused of links with Chinese organized crime, which he denies.
A report of New Jersey Division of Gaming Enforcement made public last year, said Ho allows criminal gangs "to operate and thrive" in its casinos. The section concluded that Pansy Ho is dependent on him and his money and remains under its influence.
In response to an ultimatum of regulators of casino New Jersey that MGM Resorts sell its 50 per cent participation at the top the Atlantic City casino, or cut ties with Pansy Ho, MGM chose to continue her relationship with her.
Regulators have concluded that Pansy Ho is a business partner "inappropriate" to MGM in Macau.
The company does not recognize any wrongdoing and said that he was a "spotless record" operating with it.
More recently, Stanley Ho was also involved in a dispute of inheritance on his game empire involving various branches of his family. 89-Year-old challenged the transfer in January of its shares in LSU approximately 1.6 billion to the families of his second and third wives. That led to a monthslong conflict which included a lawsuit filed by Tycoon against Pansy Ho and several other children before it has been established.
没有评论:
发表评论