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FOUNDER & PUBLISHER Kowie Geldenhuys
EDITOR-IN-CHIEF Paulo Coutinho
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Home›Macau›MGM China seeks USD2 billion loan for refinancing: reports
Gaming

MGM China seeks USD2 billion loan for refinancing: reports

By -
Thursday, February 27, 2025
178
0

MGM China Holdings Ltd. is reportedly in talks to secure a syndicated loan of approximately USD2 billion, marking its first such borrowing since the onset of the Covid-19 pandemic, according to a Bloomberg report.

According to sources familiar with the matter, the Macau casino operator is negotiating with over a dozen banks for a five-year loan denominated in Hong Kong dollars.

The funds are expected to be used for refinancing, though discussions are still ongoing, and details may change.

The company is also exploring expansion opportunities for its casino resorts in Macau, aiming to attract a broader customer base beyond traditional high rollers.

However, challenges such as China’s economic slowdown and regulatory scrutiny could impact the sector’s growth prospects.

Last year, MGM China made key financial moves, including canceling a USD750 million loan from its parent company, MGM Resorts International, in March. In June, the casino operator issued USD500 million in notes to repay part of its revolving credit facility.

MGM China has emerged as one of Macau’s fastest-growing casino operators. The company’s market share of gaming revenue surged to a record 15.8% in 2023, up from about 10% before the pandemic. LV

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