MGM China Holdings’ board appointed Kenneth Feng chief executive, effective 19 December, the company said. Feng takes a three-year term; President and COO Hubert Wang stepped down with immediate effect, and Tian Han will assume the COO responsibilities.
The appointments clarify who will lead MGM China and assume its chief operating responsibilities.
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MGM China has acquired MGM Asia Pacific Limited for US$20 million from an entity indirectly owned by its controlling shareholder, MGM Resorts International, according to the report. The acquired platform has eight operational hotels and more than 12 active projects.
People Inc.’s proposed takeover of MGM Resorts is expected to have limited near-term operational impact on MGM China, according to CreditSights. The research firm said aggressive debt funding could raise downgrade risks for MGM Resorts and affect MGM China’s bonds and revolving credit facility, both of which have change-of-control provisions.
J.P. Morgan analyst Daniel Politzer favoured Las Vegas Sands and DraftKings ahead of fourth-quarter earnings, while taking a cautious view of the wider gaming sector. He forecast $626 million in fourth-quarter Macau cash flow for Sands and $723 million in Singapore, and said comparisons would become harder in the second half of 2026.
MGM Resorts International signed a long-term brand-licensing agreement with MGM China Holdings, allowing the company to use the MGM brand through its concession term ending in 2032. The monthly fee rises from 1.75% to 3.5% of adjusted consolidated net monthly revenue, subject to an annual cap; MGM Resorts receives approximately 66.6% of the fee.
It was reported that MGM China appointed executive director Jeny Lau chief financial officer from 1 August. Her responsibilities include financial reporting, treasury and cage operations.