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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)  -2.670 (-17.137%)    Short selling $207.72M; Ratio 32.911%   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)  -0.250 (-4.013%)    Short selling $9.68M; Ratio 11.359%   last posted at HKD6.04, down 3.1%. SANDS CHINA LTD (01928.HK)  -0.930 (-4.463%)    Short selling $77.63M; Ratio 22.875%   fell off 3.7%, and GALAXY ENT (00027.HK)  -1.140 (-2.925%)    Short selling $58.61M; Ratio 11.933%   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 2025-12-29 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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