MGM Resorts International has finalized a long-term branding agreement with MGM China Holdings that extends naming rights through the end of the current gaming concession in 2032.
In addition, it increases the monthly license fee to 3.5% of MGM China's adjusted consolidated net monthly revenues under International Financial Reporting Standards.
The agreement, effective January 1, 2026, includes provisions for an automatic extension through December 31, 2045, should MGM China be granted a new gaming concession. Under the revised terms, the license fee rate doubles from 1.75% to 3.5%, with approximately 66.6% of the fee payable to MGM Resorts International.
Fees will remain subject to an annual cap based on variables including MGM China's business volumes, in line with Hong Kong Stock Exchange requirements.
The new arrangement removes the previous obligation for the parties to renegotiate branding terms every three years, securing what MGM China has described as its most important intangible asset after the gaming concession itself.
MGM China has posted strong market performance since pre-pandemic levels, with market share nearly doubling from approximately 9% prior to Covid-19 to around 16% year-to-date through September 30, 2025. The company operates two integrated resorts in Macau: MGM Macau on the peninsula and MGM Cotai.
The branding agreement grants MGM China the right to use the MGM name, MGM Grand designation, the MGM lion logo and other MGM-related trademarks, service marks, registrations and domain names owned by MGM Resorts International and its subsidiaries.
The licensing arrangement is administered by MGM Branding, a British Virgin Islands entity jointly owned by MGM Resorts International and Pansy Ho Chiu King.
MGM Resorts International holds a 55.95% ownership stake in MGM China, while Ho maintains a 22.49% interest as the company's second-largest shareholder. The original branding agreement dates back to June 2011 and is currently set to expire at the end of 2025.
MGM China operates under a 10-year gaming concession awarded in November 2022, which runs through December 31, 2032.
MGM China has appointed Kenneth Xiaofeng Feng, who has previously held the role of president, as its new CEO
