MGM China to inject $594 million into Macau unit to re-tender for casino license
HONG KONG (Reuters) – Casino operator MGM China Holding said it will inject 4.8 billion patacas ($594 million) into its MGM Grande Paradise unit as it prepares to re-tender for a licence to operate its gaming business in Macau. Under the terms of a revised gaming law released by Macau’s legislature earlier this year, a casino needs a minimum capital requirement of 5 billion patacas, and the managing director of the concessionaire must be a Macau permanent resident holding at least 15% of its capital. MGM China, the Chinese arm of U.S. gambling giant MGM Resorts International, said in a