MGM China revenue up 2 pct, paying dividend

MGM China Holdings Ltd. (HK: 2282) reported a 2 percent rise in fourth-quarter revenue to $731 million and will pay a special dividend of HK$1.02 a share, or $499 million. The company’s adjusted earnings before interest, taxes, depreciation and amortization, or Ebitda, was $176 million, up from $174 million last year. On February 27th the company breaks ground on its US $2.6 billion mass market property in Cotai which parent company MGM International hopes will help double its revenue. MGM China shares rose close to 5.3 percent after the dividend announcement.