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<Research>MGM CHINA Slumps 13%+, as M Stanley Says Royalty Payment to Parent to Double YoY Next Yr
MGM CHINA (02282.HK) opened 0.5% lower this morning before slumping nearly 13.4% to bottom at HKD13.5 at one point. It last printed at HKD13.51, down 13.3%, with a turnover of HKD3...
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<Research>MGM CHINA Slumps 13%+, as M Stanley Says Royalty Payment to Parent to Double YoY Next Yr
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SHORT SELL
 
STOCK INFO

MGM CHINA (02282.HK)  -0.400 (-3.098%)    Short selling $17.52M; Ratio 13.231%   opened 0.5% lower this morning before slumping nearly 13.4% to bottom at HKD13.5 at one point. It last printed at HKD13.51, down 13.3%, with a turnover of HKD315 million. WYNN MACAU (01128.HK)  -0.100 (-1.672%)    Short selling $2.76M; Ratio 12.967%   last posted at HKD6.04, down 3.1%. SANDS CHINA LTD (01928.HK)  -0.320 (-1.607%)    Short selling $28.96M; Ratio 20.695%   fell off 3.7%, and GALAXY ENT (00027.HK)  -0.120 (-0.317%)    Short selling $23.66M; Ratio 22.148%   shed 2.2%.

Morgan Stanley published a research report indicating that MGM China will need to make royalty payment to MGM Resorts (MGM.US)      that will increase from the current 1.75% of monthly net revenue to 3.5%. It expected that the new royalty payment for next year will be HKD1.2 billion, compared to HKD600 million this year. This will result in MGM China's 2026 corporate EBITDA being 7% lower than previous forecasts. Besides, MGM China's EBITDA may decline by 5% YoY, with margins narrowing by 220 bps.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-12-30 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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