MGM China eyes Hong Kong IPO in first quarter

The latest comments indicate a slight delay from previous plans to list this year, ideally after the venture clears hurdles for a second casino resort in Macau, the world's largest gambling market.

“Our anticipation is around the first quarter," Pansy Ho, MGM Resorts' Macau partner and daughter of gambling tycoon Stanley Ho, told Reuters on the sidelines of a business event on Wednesday. "We'll continue to supply suporting material."

Ho declined to provide other details on the IPO, such as how much MGM China aimed to raise. "Right now, it's looking good," she said. In September, a Goldman Sachs analyst estimated that MGM China's offering in Hong Kong, a hotbed for IPOs this year, could generate proceeds of more than us$ 300 million.

Some of MGM's rivals spun off their Macau assets last year in Hong Kong. Wynn Resorts listed Wynn Macau, while Las Vegas Sands floated Sands China.

Ho also said the Macau government was expected to announce its decision on MGM China's second resort on Macau's Cotai Strip, at the same time as for projects by rivals SJM Holdings and Wynn Macau projects.

Previously, the market had expected the announcements to come separately. "We're waiting for the government to tell us," she said. "We've been told the process will take some time."

Wynn Macau's shares were up 3.7 % and SJM Holdings was down 5.3 %, compared with the Hang Seng Index's 0.37 percent decline.