MGM - MGM Resorts activist may have trouble with Chinese sale demands

An investor pushing for MGM Resorts (MGM) to sell a 20% stake in MGM China (MCHVF) to a Chinese company may not get very far as MGM unlikely to sell its equity ``anywhere close'' to current levels, JPMorgan said in note earlier.Snow Lake Capital, which has a 7.5% stake in MGM China, is advocating for MGM to sell the stake partly so the casino operator would have a more certain outlook for a new gaming concession in ChinaJPMorgan analyst Joseph Greff writes that selling down ``at these levels is premature, in our view, to drive incremental equity value''MGM up 4%Earlier, sports betting names track higher on New York legalization push

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MGM Resorts activist may have trouble with Chinese sale demands