Following the most recent stock sale – on May 26, May 27, and May 28 – Ms Ho’s original 1.36% long position in MGM Resorts has been reduced to 0.96%.

According to the transaction records filed with the Hong Kong Exchange, Ms Ho sold an aggregate of 2,016,788 shares in the U.S. firm.

Ms Ho grossed about US$86.05 million from the late May transactions, the records indicate.

The average price per share of MGM Resorts had been US$42.51, US$42.81 and US$43.65 on May 26, May 27 and May 28 respectively, showed data filed with the Hong Kong Stock Exchange.

Those prices represented a minimum 49.9% premium to the US$28.36 per share value of MGM Resorts’ stock on January 27, its lowest price this calendar year.

Prior to the share sale processes in late May, Ms Ho had cut her stake in the parent group several times since late 2019.

Ms Ho became a substantial shareholder in MGM Resorts as part of a 2016 deal with the company.

It had allowed the U.S. group to increase its stake in MGM China to 56%, while Ms Ho at that time reduced her stake in the Macau casino operator from 27.44% to 22.49%.

Editing by Rachel Hu

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According to Monday release, it will be the first show residency for the Guangzhou Song and Dance Theatre outside mainland China. The spectacle is co-produced by the Publicity Department of the Guangzhou Municipal Committee of the Communist Party of China, Guangzhou Municipal Culture, Radio, Television and Tourism Bureau, and MGM China.

The 70 minute drama will be hosted at the MGM Theater. By making use of the technology available at the venue, MGM Awakening Lion will blend “ancient intangible heritage” with virtual reality.

MGM Awakening Lion was created to “showcase traditional dance drama with innovation, telling the great stories of the Chinese people with an internationalized and contemporary backdrop,” said MGM China.

The statement quoted Pansy Ho Chiu King, executive director of MGM China, as saying the show was aimed especially at “tourists of the new generation,” and was a “new milestone for MGM, as it is the very first project of the ‘MGM Lion Intellectual Property’ spectrum of tourism products in multiple categories”.

The original ethnic dance drama Awakening Lion is described as the first large scale dance drama in China using Cantonese lion dance as its theme. The original drama was named the best dance drama at the China Dance Lotus Awards.

Editing by Rachel Hu

The post MGM Cotai to launch resident show adapted from Chinese ethnic dance drama in July appeared first on 博讯头条-全方位博彩新闻网站.