MGM China’s Pansy Ho exits MGM Resorts stake amid takeover interest

Pansy Ho, chairperson and executive director of MGM China, has fully exited her stake in MGM Resorts International following a series of share disposals totaling USD140.1 million, according to filings with the Hong Kong Stock Exchange.

The divestment leaves her with no direct interest in the U.S.-based parent company.

Ho sold her entire 1.2% holding through five transactions between May 28 and June 3, offloading 3,066,157 shares at prices ranging from $42.40 to $50.24 each.

The move also marks a further step away from her earlier position, which included a 4.8% stake acquired through a share-swap arrangement tied to the strategic partnership between MGM China and MGM Resorts.

Her exit comes as MGM Resorts faces a potential shift in ownership. People, Inc., which holds 26.1% of the company’s common stock, recently submitted a non-binding proposal to acquire an additional 24.1% stake at $48.30 per share. If completed, the deal would give People, Inc. a controlling interest of just over 50%.

MGM Resorts said it would “carefully review and consider” the proposal, adding that any decision would prioritize the interests of the company and its shareholders.

Despite divesting her U.S. holdings, Ho retains a significant position in MGM China, where MGM Resorts holds a 55.95% controlling stake and Ho controls 22.49%.