Exhibit 99.1
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MGM CHINA HOLDINGS LIMITED
美高梅中國控股有限公司
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 2282 and Debt Stock Codes: 6026, 6028, 40258, 40634)
INSIDE INFORMATION
THE GAMING CONCESSION CONTRACT
This is an announcement made by MGM China Holdings Limited (the “Company”) pursuant to the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571) and Rules 13.09 and 37.47B of the Listing Rules.
INTRODUCTION
On April 19, 2005, as approved and authorised by the Macau Government, our subsidiary, MGM Grand Paradise, was granted a 15-year gaming sub-concession under the Sub-concession Contract, commencing on April 20, 2005 and expiring on March 31, 2020, to operate games of fortune and chance and other games in casino in Macau. As disclosed in the announcements of the Company on March 15, 2019 and June 23, 2022, the Sub-concession Contract was successively extended to June 26, 2022 and December 31, 2022 respectively. In the second half of 2022, the Macau Government conducted an international tender process for gaming concessions in Macau to which MGM Grand Paradise has submitted its tender (the “Tender”) on September 14, 2022.
As disclosed in the announcement of the Company dated November 27, 2022, on November 26, 2022, MGM Grand Paradise was provisionally awarded the Gaming Concession, commencing on January 1, 2023 and expiring on December 31, 2032.
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