MGM subsidiary secures 10-year Macau gaming concession through 2032; table capacity rises to 750

MGM Resorts International

MGM Grand Paradise granted final 10-year concession from Jan 1, 2023 to Dec 31, 2032, replacing sub-concession.
Authorized to operate 750 gaming tables (up from 552 currently) and 1,700 gaming machines.
Special gaming tax remains 35% of gross gaming revenue; annual fixed premium MOP 30M (~$3.7M) plus variable fees.
Mandatory investment of MOP 16.7B (~$2B), of which MOP 15B in non-gaming projects; bank guarantee of MOP 1B required.
Additional investment triggered if market-wide GGR reaches MOP 180B in any year, with reduced percentages in later years.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

MGM Resorts International entered into Concession Contract with Macau government valued at annual premium of MOP 30 million (approximately US$3.7 million) (effective 2022-12-16).

Action: entry
Counterparty: Macau government
Value: annual premium of MOP 30 million (approximately US$3.7 million)
Effective: 2022-12-16

Exact text from the filing

entered into a 10-year gaming concession contract to operate games of chance or other games in casinos in Macau commencing on January 1, 2023 (the “Concession Contract”) through December 31, 2032.

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MGM Resorts International filing history →

Source: SEC EDGAR

accession 0001193125-22-308700

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