MGM China: Branding Deal Extends 20 Years, Capped 2026

MGM China Holdings Limited has entered into a Long Term Branding Agreement on December 23, 2025, to replace its Third Renewed Branding Agreement, which was set to expire on December 31, 2025. This new agreement, effective from January 1, 2026, will have a term not exceeding 20 years. Under the agreement, MGM China Group will continue to pay monthly license fees to MGM B&D Holdings, calculated at 3.5% of the company's consolidated net monthly revenues, adjusted for discounts, commissions, loyalty program adjustments, and provisions.

The company has set an annual cap of $188.3 million for the year ending December 31, 2026, for these license fees. This cap was determined based on the specified formula, historical payments for 2023 ($55,188), 2024 ($70,392), and the nine months ended September 30, 2025 ($56,463), and anticipated business volume growth. This continuing connected transaction is subject to reporting, announcement, and annual review requirements but is exempt from independent shareholders' approval.

The Long Term Branding Agreement ensures the MGM China Group's continued use of "Subject Marks" for its casino, resort, and hospitality businesses, aligning with its long-term strategic planning and concession cycles. This extended duration provides stability for significant brand-related investments and marketing initiatives.