MGM Resorts International said Macau has agreed to extend the gaming license of its China unit by two years.
MGM Grand Paradise, a wholly owned subsidiary of MGM China, will have its license extended to June 26, 2022, MGM Resorts said in a statement Thursday night.
The license was set to expire March 31, 2020. MGM China is majority owned by MGM Resorts.
The license expiration now coincides with other operators on Macau, including Wynn Resorts and Las Vegas Sands.
“We are grateful for the support of the Macau government to have authorized and extended our sub-concession to now align with the rest of the market,” said MGM Resorts CEO Jim Murren.
MGM Grand Paradise will pay the government of Macau nearly $25 million for the two-year extension.