Pursuits
MGM Resorts Gains Control of Macau Casino as Ho Sells Stake
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MGM Resorts International, the casino company founded by billionaire Kirk Kerkorian, will gain control of its Macau joint venture by acquiring shares from partner Pansy Ho.
Ho will sell 1 percent of MGM China Holdings Ltd. to Kerkorian’s company, lifting his stake in the venture to 51 percent, the companies in a statement yesterday. Ho also plans to sell as much as 23 percent of the business in a Hong Kong initial public offering.