Common Contracts
1 similar Third Renewed Branding Agreement contracts
REVISION OF ANNUAL CAPS FOR CONTINUING CONNECTED TRANSACTIONS THIRD RENEWED BRANDING AGREEMENTThird Renewed Branding Agreement • August 16th, 2024
Reference is made to the announcement of MGM China Holdings Limited (the “Company”) dated December 8, 2022, in relation to the Third Renewed Branding Agreement entered into by and among the Company, MGMGP, MGM Branding, MGM Resorts International, MRIH and NCE. In view of the expected increase in the Company’s consolidated gross monthly revenues, the aggregate amount of the license fees payable by the Company under the Third Renewed Branding Agreement to MGM Branding for each of the financial years ending December 31, 2024 and December 31, 2025 is expected to be higher than the levels envisaged at the time of entering into the Third Renewed Branding Agreement and, as such, it is expected that the amounts of the annual caps for the financial years ending December 31, 2024 and December 31, 2025 (the “Original Annual Caps”) will be exceeded. The Board has therefore revised the amounts of the Original Annual Caps and the parties to the Third Renewed Branding Agreement have subsequently ente
