International edition
September 23, 2021

Investments could pave the way for the firm to acquire a stake in MGM

Malaysian Genting pays us$ 100 million for MGM stake

(US / Malaysia).- Malaysian gaming group Genting has paid us$ 100 million for a 3.2 % stake in US casino operator MGM Mirage, an official from the US company revealed this week. The stake was offered under a us$ 1 billion equity placement by MGM Mirage last month.

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We take this as a sign of great confidence in our company," Alan Feldman, Senior Vice President of Public affairs for MGM Mirage told Reuters.

Last month, Kuala Lumpur-based Genting and its unit Resorts World had subscribed for a combined us$ 100 million worth of notes issued by MGM Mirage. The notes were part of MGM's us$ 1.5 billion fund-raising exercise to help settle its outstanding debts and for general corporate purposes.

Malaysian analysts had said the investments could pave the way for Genting to acquire a stake in MGM or take over the US casino operator's investment in MGM Grand Macau.

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