MGM China also revealed that it will pay as much as $46.4 million in 2023 to related parties for branding services, hotel cleaning, and laundry services.<\/strong><\/p>\nOver the next three years starting in 2023, MGM China will pay $15 million annually to MGM Branding — a wholly owned subsidiary equally controlled by MGM Resorts and Pansy Ho. Ho is the cochairperson at MGM China, and recently signed a 10-year contract valued at $8 million annually to remain a managing director of the gaming entity. She\u2019s occupied that role since 2005.<\/p>\n
MGM China Marketing Agreement<\/h2>\n
The regulatory filing also highlights a revamped marketing agreement between MGM China and its US parent. Under the terms of that accord, the Macau entity will pay $8.34 million to MGM in 2023 for marketing services. That figure increases to $9.63 million in 2024 and $10.91 million in 2025.<\/p>\n
Last month, MGM made a subordinated revolving credit facility of up to $750 million available to MGM China to financially support the business. Sands China and Wynn Macau made similar moves this year.<\/strong><\/p>\nMGM China operates MGM Cotai and MGM Macau.<\/p>\n","protected":false},"excerpt":{"rendered":"
MGM China announced it will pay as much as $173.2 million over three years commencing Jan. 1, 2023 to MGM Resorts International for use of the US-based company\u2019s trademarks. MGM China, which operates two integrated resorts in Macau, said in a regulatory document it has approval to use marks including MGM, MGM Grand, MGM Grand […]<\/p>\n","protected":false},"author":46,"featured_media":247423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,33810],"tags":[81913,81898],"acf":[],"yoast_head":"\n
MGM China Strikes New Trademark Deal With MGM Resorts<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n