{"id":227736,"date":"2022-08-22T13:34:22","date_gmt":"2022-08-22T18:34:22","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=227736"},"modified":"2022-08-24T12:31:51","modified_gmt":"2022-08-24T17:31:51","slug":"pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/","title":{"rendered":"MGM China Pouring $594M Into MGM Grand Paradise, Pansy Ho to Remain Managing Director"},"content":{"rendered":"

Ahead of Macau\u2019s gaming license retendering process, MGM China is funneling $594 million into MGM Grand Paradise to shore up that unit.<\/p>\n

\"Pansy
MGM China co-chairperson Pansy Ho. She signed a new deal to remain managing director of MGM Paradise. (Image: Macau Business<\/em>)<\/figcaption><\/figure>\n

As part of that transaction, Pansy Ho, co-chairperson at MGM China, signed a 10-year contract valued at $8 million annually to remain a managing director of the gaming entity —\u00a0 a role she\u2019s held since 2005. MGM China, which operates two Macau integrated resorts, injects MGM Grand Paradise with additional capital. The goal is to comply with new gaming laws in the special administrative region (SAR). Those require casino companies to reach a certain capitalization level before receiving new licenses.<\/p>\n

The Macau Government published the Revised Gaming Law on June 22, 2022, and the Revised Tender Regulation on July 5, 2022, respectively. Upon the forthcoming expiry of the Sub[1]concession Further Extension Contract, the Company intends that MGM Grand Paradise will tender for a new gaming concession in Macau,\u201d according to a regulatory filing issued by MGM China. \u201cMGM Grand Paradise is required to comply with, among others, a minimum capital requirement of MOP5 billion.\u201d<\/p><\/blockquote>\n

Other US-based operators previously loaned Macau units capital. In July, Las Vegas Sands (NYSE:LVS) loaned Sands China $1 billion. The month prior, Wynn Resorts (NASDAQ:WYNN) announced it is loaning its Wynn Macau arm<\/a> $500 million.<\/p>\n

Pansy Ho\/MGM History<\/h2>\n

Under Macau\u2019s new gaming laws, it\u2019s required that an operator\u2019s managing director is a Macau permanent resident and holds at least 15% of the capital in the concessionaire — boxes checked by Ho.<\/p>\n

\n

Ho, Macau casino patriarch Stanley Ho’s eldest daughter, became a significant MGM shareholder<\/a> in 2016. That’s when the Las Vegas-based company boosted its stake in its China unit to 56%. At that time, she controlled 22.5% of MGM China. She\u2019s since dramatically whittled her stake in the US-based company but remains one of MGM China\u2019s largest shareholders.<\/p>\n<\/div>\n

\u201cUpon completion of the Share Subscription and the Transfer, each of the Company, the Managing Director and MGM Resorts International will hold 84.6%, 15% and 0.4% of the issued share capital and voting rights of MGM Grand Paradise, respectively,\u201d according to the filing.<\/p>\n

With an estimated net worth of $3.1 billion, Ho, 60, is one of the richest women in Hong Kong. She\u2019s also a major investor in SJM Holdings — her late father\u2019s casino company.<\/strong><\/p>\n

MGM Taking it Slow in Macau<\/h2>\n

MGM Resorts International (NYSE:MGM) owns about 56% of the China business. While that\u2019s a potentially lucrative stake in a normal operating environment, the world\u2019s largest casino operator has been in anything but normal conditions since the dawn of the coronavirus era in early 2020.<\/p>\n

As such, while MGM\u2019s US operations are thriving, the company is taking a wait-and-see<\/a> approach to large-scale investments at its two Macau venues.<\/p>\n

The operator could be increasingly active in Asia-Pacific in the coming years. That’s if it wins approval for a casino resort in Osaka, Japan, and if it gains entry into Thailand.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Ahead of Macau\u2019s gaming license retendering process, MGM China is funneling $594 million into MGM Grand Paradise to shore up that unit. As part of that transaction, Pansy Ho, co-chairperson at MGM China, signed a 10-year contract valued at $8 million annually to remain a managing director of the gaming entity —\u00a0 a role she\u2019s […]<\/p>\n","protected":false},"author":46,"featured_media":227738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[81913,81903,48,51],"acf":[],"yoast_head":"\nPansy Ho Will Remain Managing Director Of MGM Paradise In Macau<\/title>\n<meta name=\"description\" content=\"Pansy Ho reaffirms relationship with MGM China, MGM's Macau unit.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pansy Ho Will Remain Managing Director Of MGM Paradise In Macau\" \/>\n<meta property=\"og:description\" content=\"Pansy Ho reaffirms relationship with MGM China, MGM's Macau unit.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-22T18:34:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-24T17:31:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"912\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/\",\"url\":\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/\",\"name\":\"Pansy Ho Will Remain Managing Director Of MGM Paradise In Macau\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg\",\"datePublished\":\"2022-08-22T18:34:22+00:00\",\"dateModified\":\"2022-08-24T17:31:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Pansy Ho reaffirms relationship with MGM China, MGM's Macau unit.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg\",\"width\":1200,\"height\":912,\"caption\":\"MGM China co-Chairperson Pany Ho. The operator is interested in Thailand and that could include building a casino hotel there.(Image: Macau Business)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia Pacific Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"MGM China Pouring $594M Into MGM Grand Paradise, Pansy Ho to Remain Managing Director\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Pansy Ho Will Remain Managing Director Of MGM Paradise In Macau","description":"Pansy Ho reaffirms relationship with MGM China, MGM's Macau unit.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/","og_locale":"en_US","og_type":"article","og_title":"Pansy Ho Will Remain Managing Director Of MGM Paradise In Macau","og_description":"Pansy Ho reaffirms relationship with MGM China, MGM's Macau unit.","og_url":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2022-08-22T18:34:22+00:00","article_modified_time":"2022-08-24T17:31:51+00:00","og_image":[{"width":1200,"height":912,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/","url":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/","name":"Pansy Ho Will Remain Managing Director Of MGM Paradise In Macau","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg","datePublished":"2022-08-22T18:34:22+00:00","dateModified":"2022-08-24T17:31:51+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Pansy Ho reaffirms relationship with MGM China, MGM's Macau unit.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg","width":1200,"height":912,"caption":"MGM China co-Chairperson Pany Ho. The operator is interested in Thailand and that could include building a casino hotel there.(Image: Macau Business)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/pansy-ho-will-remain-managing-director-of-mgm-paradise-in-macau\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Asia Pacific Gaming","item":"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/"},{"@type":"ListItem","position":3,"name":"MGM China Pouring $594M Into MGM Grand Paradise, Pansy Ho to Remain Managing Director"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/227736"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=227736"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/227736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/227738"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=227736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=227736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=227736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}