MGM Grand MacauEdit profile
MGM Macau (美高梅, formerly known as MGM Grand Macau) is a 35-story, 600-room casino resort in Macau which officially opened on 18 December 2007. Under a sub concession approved by the Macau government, the project is owned and operated as a 50-50 joint venture between MGM Resorts International and Pansy Ho Chiu-king, daughter of Macau casino magnate Stanley Ho. The sub-concession is one of several examples of new construction following the end of the government-granted monopoly held for decades by Stanley Ho.
Phase One of the casino floor accounts for 20,620 m2 (222,000 sq ft) square metres over two levels and wrapping around the Grande Praça; with table games and slot machines.
The property includes a convention space of 1,452 m2 (15,630 sq ft), including The Grand Ballroom of 807 square metre for business meetings, social events and weddings; and partner with Six Senses Spa to have a space of 2,720 square metre that includes 12 treatment areas.
MGM Macau also features a number of restaurant outlets, bars, and lounges. There are 12 food and beverage outlets in total.
On April 18, 2011 an Initial Public Offering was announced. Under the agreement, Pansy Ho Chiu-king, would receive a 29 percent stake in the company, MGM China Holdings Ltd, which has been created as a listing vehicle for the IPO. MGM Resorts would hold 51 percent and the public would receive 20 percent. The company raised $1.5 billion from its Initial Public Offering on the Hong Kong Stock Exchange at top price of the range.