International edition
October 17, 2021

Both companies reportedly mulls Asian IPO

MGM and Pansy Ho plan Macau casino expansion

(Macau).- MGM Mirage and its Macau casino partner, Pansy Ho, plan to expand their casino operations in Macau and are mulling an initial public offering. The partners have begun inspecting sites for potential resorts within Macau.

C

EO Jim Murren told Bloomberg the Macau venture was under-represented in the market. It was reported earlier this week that MGM rival Las Vegas Sands plans to list as soon as next month its Macau assets on the Hong Kong stock exchange. Wynn Resorts, meanwhile, held its IPO for its Macau assets earlier in October.

The news from MGM comes on the same day reports surfaced that travel restrictions were being tightened in the region, potentially hurting the revenue of casino operators in Macau.

In September, Macau reported that gambling revenue had more than doubled, making it a profitable area of growth for casino operators that are having trouble in the United States amid the economic downturn.

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