Pansy Ho now 0.82pct of MGM Resorts, as sells more stock

Jun 18, 2021 Newsdesk Latest News, Macau, Top of the deck  

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Pansy Ho Chiu King (pictured in a file photo), co-chairperson and executive director of Macau casino operator MGM China Holdings Ltd, has again disposed of shares in MGM China’s parent, United States-based casino group MGM Resorts International.

She grossed approximately US$9 million from a June 9 sale of an aggregate of 204,459 shares in MGM Resorts, with the average per-unit price of the U.S. firm’s stock at US$44.0660.

Following the latest reported exercise, Ms Ho’s previous 0.86-percent long position in MGM Resorts was reduced to 0.82 percent, according to the transaction records filed to the Hong Kong bourse, where MGM China is listed.

Prior to the June 9 move, Ms Ho had cut her stake in MGM Resorts several times. The most recent transactions were on June 1, in late May, and in February this year.

Ms Ho became a substantial shareholder in MGM Resorts as part of a 2016 deal with that firm. It had allowed the U.S. group to increase its stake in MGM China to 56 percent, while Ms Ho at that time reduced her stake in the Macau-based casino operator from 27.44 percent to 22.49 percent.

The 2016 deal with MGM Resorts and a separate acquisition of shares from Tracinda Corp, gave Ms Ho access to a 4.8-percent stake in MGM Resorts, it was announced at the time.

Ms Ho still held 22.49 percent of MGM China, as of the date of that firm’s annual report for 2020, lodged with the Hong Kong bourse on April 13.

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