Pansy Ho Chiu King reduces MGM Resorts stake to 0.86%

Pansy Ho Chiu King has sold US$20.4m worth of shares in MGM China’s parent company, MGM Resorts International, reducing her stake to 0.86 per cent.

Macau.- Pansy Ho Chiu King, co-chairperson and an executive director of Macau casino operator MGM China Holdings Ltd has sold an aggregate of 467,719 shares in the US firm.

Ho Chiu King started to reduce her stake in MGM Resorts last year when she sold US$140.2m worth of shares in December, reducing her stake from 3.13 per cent to 2.26 per cent. Her stake now stands at 0.86 per cent.

Her latest transaction in May grossed approximately US$86.05m through the sale of an aggregate of 2,016,788 shares.

Ho continues to hold a 22.49 per cent stake in MGM China. In January, she signed an agreement through Occasions Asia Pacific to provide PR and marketing services to MGM Grand Paradise, a subsidiary of MGM China.

Occasions has collaborated with the MGM Group. Under a previous agreement that ran through most of 2020, it provided MGM China with project management, client servicing brand consultancy and marketing, public and media relation and social media services.

Ho acquired 50 per cent of Occasions last year.

MGM Resorts appoints Tilak Mandadi as chief strategy, innovation and technology officer

MGM Resorts has named Tilak Mandadi as its new chief strategy, innovation and technology officer as of July 6.

Mandadi previously worked for Disney and American Express. He will oversee MGM Resorts’ digital strategy and look to drive technological growth and innovation.

Bill Hornbuckle, MGM Resorts CEO & President, said: “We are incredibly proud to have Tilak join our executive leadership team to drive an essential part of our business and guest value proposition at such a critical time.

“Tilak’s experiences at both Disney and American Express, along with his high-calibre track record as a visionary, results-driven leader, will be invaluable as we emerge from the pandemic.”