{"id":300473,"date":"2023-11-25T21:08:27","date_gmt":"2023-11-26T03:08:27","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=300473"},"modified":"2023-11-27T11:37:57","modified_gmt":"2023-11-27T17:37:57","slug":"pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/","title":{"rendered":"Pansy Ho Not Liquidating MGM China Equity Stake"},"content":{"rendered":"

Pansy Ho, cochairperson at MGM China, is unlikely to materially alter her stake in the gaming company, despite a recent move that suggests otherwise.<\/p>\n

\"Pansy
MGM China Cochairperson Pansy Ho. She’s unlikely to sell her entire stake in the casino operator. (Image: Macau Business<\/em>)<\/figcaption><\/figure>\n

Ho, Macau casino patriarch Stanley Ho\u2019s eldest daughter, recently deposited the entirety of her equity interest in MGM China — 380 million shares to be exact — into the Hong Kong Exchange\u2019s Central Clearing and Settlement System (CCASS). The CCASS was implemented by the Hong Kong Securities Clearing Company Limited (HKSCC) to add more efficiency to and reduce settlement times for large block trades.<\/p>\n

China Connect Securities Trades follow the settlement cycle of the Mainland stock market, where stock is settled on T-day and money is settled on T+1 day,\u201d<\/strong> according to Hong Kong Exchanges and Clearing.\u00a0 \u201cThe stock exchange of Hong Kong (SEHK) transmits details of China Connect Securities Trades directly from its order routing system, China Stock Connect System (CSC) to CCASS in real-time.\u00a0 HKSCC reconciles the provisional clearing data files retrieved from ChinaClear\u2019s system against the trade records from SEHK.\u00a0 Final Clearing Statements are available to related Participants shortly after 16:00 hours on T day.\u201d<\/strong><\/p><\/blockquote>\n

Ho is also managing director and a 15% owner<\/a> of MGM Grand Paradise, the entity that holds the license for MGM China\u2019s two Macau integrated resorts.<\/p>\n

MGM China Questions Moves<\/h2>\n

Various Asian media outlets reported that Ho recently made two transactions — one via BNP Paribas and the other through Standard Chartered — to move her MGM China shares into the CCASS. But MGM China said it wasn\u2019t directly involved with the transactions.<\/p>\n

\n

Rather, the MGM Cotai operator said the moves were part of previously made arrangements between Ho and her banks. Ho, 61, cleared $1.5 billion from MGM China\u2019s 2011 initial public offering (IPO). She\u2019s the largest individual shareholder of the gaming company\u2019s equity, and doesn\u2019t have an established track record of massive sales of the stock.<\/p>\n<\/div>\n

While she\u2019s mostly held onto her MGM China shares, Ho started trimming her stake<\/a> in MGM Resorts International (NYSE: MGM) in 2019. Today, she owns just a fraction of what was previously a large position.<\/p>\n

Ho became a significant MGM shareholder<\/a> in 2016, when the Las Vegas-based gaming company boosted its stake in MGM China to roughly 56%.<\/p>\n

Not a Good Time for Pansy Ho to Sell<\/h2>\n

Even if the aforementioned move of her MGM China stock to the CCASS was a prelude to a sale, Ho could be making a mistake. That’s because Macau casino stocks have recently slumped. Earlier this month, shares of five of the six concessionaires — MGM China was the exception — touched the lowest levels since early 2022.<\/p>\n

That indicates that any investor cutting or eliminating such positions today may be \u201cselling low.\u201d It\u2019s likely just coincidence, but Ho\u2019s track record of selling MGM shares indicates she rarely commits the offense of selling.<\/strong><\/p>\n

Additionally, Macau casino stocks are historically inexpensive<\/a>, indicating valuation risk has been eliminated from the equation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pansy Ho, cochairperson at MGM China, is unlikely to materially alter her stake in the gaming company, despite a recent move that suggests otherwise. Ho, Macau casino patriarch Stanley Ho\u2019s eldest daughter, recently deposited the entirety of her equity interest in MGM China — 380 million shares to be exact — into the Hong Kong […]<\/p>\n","protected":false},"author":46,"featured_media":227738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[81913,81903],"acf":[],"yoast_head":"\nPansy Ho Unlikely To Significantly Reduce MGM China Stake<\/title>\n<meta name=\"description\" content=\"Pansy Ho probably not readying large MGM China share sale despite moving shares to CCASS.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pansy Ho Unlikely To Significantly Reduce MGM China Stake\" \/>\n<meta property=\"og:description\" content=\"Pansy Ho probably not readying large MGM China share sale despite moving shares to CCASS.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-26T03:08:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-27T17:37:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"912\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/\",\"url\":\"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/\",\"name\":\"Pansy Ho Unlikely To Significantly Reduce MGM China Stake\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg\",\"datePublished\":\"2023-11-26T03:08:27+00:00\",\"dateModified\":\"2023-11-27T17:37:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Pansy Ho probably not readying large MGM China share sale despite moving shares to CCASS.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/pansy-ho-unlikely-to-significantly-reduce-mgm-china-stake\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/PH.jpeg\",\"width\":1200,\"height\":912,\"caption\":\"MGM China co-Chairperson Pany Ho. 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