MGM Resorts would hold 51 percent and the public would receive 20 percent. Under the agreement, Pansy Ho would receive a 29 percent stake in the company, MGM China Holdings Ltd, which was created as a listing vehicle for the IPO. On 18 April 2011, an initial public offering was announced. The property was renamed to MGM Macau, as part of MGM Mirage's 2010 rebranding to MGM Resorts International. The MGM Grand Macau was opened on 18 December 2007 at a cost of US$1.25 billion. The sub-concession is one of several examples of new casino construction following the end of the government-granted monopoly held for decades by Stanley Ho.
Under a sub concession approved by the Macau government, the project is owned and operated as a 50–50 joint venture between MGM Resorts International and Pansy Ho, daughter of Macau casino magnate Stanley Ho. MGM Macau ( Chinese: 美高梅 formerly known as MGM Grand Macau) is a 35-story, 600-room casino resort in Sé, Macau.
