Thursday, March 30, 2023 - Login

MGM China stock loses 64 percent of value since peak

Over the course of the past couple of years, MGM China stock on the Hong Kong Stock Exchange has tumbled from a January 2018 peak of HK$24.3 to its Thursday closing of HK$8.75, a fall of about 64 percent.

It’s recent fall below HK$10 is something that had not been seen since July 2016, and it is of course largely related to the Covid-19 crisis shaking Macau and its gaming industry as a whole.

Despite its own troubles, however, MGM China instituted at the beginning of this month an “MGM SME Anti-Epidemic Support” program and other measures to assist its smaller local partners.

MGM China CEO Grant Bowie explained, “MGM goes all out to offer our local SME vendors a quick relief from the hardship, including rolling out this game-changing financial assistance program to help them keep their business afloat. We wholeheartedly hope that we can help them alleviate financial burden and ride out the storm.”

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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