MGM China Holdings Ltd., the Macau casino operator, boosted the budget for its new resort in the city as fourth-quarter profit rose 35 percent, beating analyst estimates. The stock gained in Hong Kong.
Pansy Ho , the daughter of Macau casino billionaire Stanley Ho , raised the maximum $1.5 billion sought by selling shares in MGM China Holdings Ltd. as gambling revenue surges in the former Portuguese enclave.
MGM China Holdings Ltd. , the Macau venture between Pansy Ho and the biggest casino operator on the Las Vegas Strip, rose on its first day of trading in Hong Kong after raising $1.5 billion in an initial public offering.
Pansy Ho , a daughter of billionaire Stanley Ho , is seeking as much as HK$11.7 billion ($1.5 billion) from an initial public offering of casino operator MGM China Holdings Ltd., according to a term sheet for the sale.
MGM China Holdings Ltd., the Macau venture between Pansy Ho and the biggest casino operator on the Las Vegas Strip, rose to the highest in more than five months in Hong Kong trading after 2011 profit more than doubled.
MGM China Holdings Ltd., the casino joint venture between MGM Resorts International and Pansy Ho , may raise as much as $1.5 billion in its Hong Kong initial public offering, two people with knowledge of the matter said.