In Macau and a prominent investor in local casino operator MGM China Holdings Limited has reportedly urged the enterprise’s majority shareholder, MGM Resorts International, to sell up to 20% of its own stake to one of a number of Chinese enterprises.
According to a report from Inside Asian Gaming, Hong Kong-headquartered alternative investments firm Snow Lake Capital currently holds a 7.5% stake in MGM China Holdings Limited following a pair of late-2020 acquisitions that cost it in the region of $16.5 million. The source detailed that this backer’s founder, Sean Ma, has now penned an open letter to call on MGM Resorts International to dispose of a portion of its controlling interest in the firm behind Macau’s MGM Cotai and MGM Macau venues so as to ‘create a win-win transaction for all parties involved and deliver significant shareholder value to both companies’.
Expansion aspirations:
Las Vegas-based MGM Resorts Internati…