CHICAGO: MGM Resorts International disclosed yesterday the planned structure of its initial public offering in the fast-growing Macau casino market, reaching an agreement with co-owner Pansy Ho (pic).
Under the agreement, Pansy, the daughter of Macau gambling tycoon Stanley Ho, would receive a 29% stake in the company, MGM China Holdings Ltd, which has been created as a listing vehicle for the IPO. MGM Resorts would hold 51% and the public would receive 20%.
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