MGM China : Grant of Share Options

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

美 高 梅 中 國 控 股 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2282)

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities ("the Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The board of directors (the "Board") of MGM China Holdings Limited (the "Company") announces that on February 21, 2017, the Company offered to grant share options (the "Share Options") to subscribe for a total of 1,380,000 shares of HKD1.00 each in the capital of the Company (the "shares") to certain eligible persons (collectively, the "Grantees"), subject to acceptance of the Grantees, under the revised share option scheme adopted by the Company on May 11, 2011 (as amended by the Board on July 28, 2016) (the "Scheme"). A summary of the grant is set out below:-

Date of grant : February 21, 2017 (the "Date of Grant")

Number of Shares in respect : 1,380,000 of which the Share Options

were granted

Subscription price of the : HKD14.50 per Share

Share Options granted (The subscription price of HKD14.50 represents a price

which is the higher of (i) the closing price of the Shares of HKD13.70 as stated in the daily quotation sheet of the Stock Exchange on the Date of Grant; (ii) the average closing price of the Shares in the daily quotation sheets of the Stock Exchange for the 5 trading days immediately preceding the Date of Grant (that is HKD14.50); and (iii) the nominal value of a Share (that is HKD1.00))

Validity period of the : Ten years (10) from the Date of Grant Share Options

Vesting date of Share Options : 25% of the Share Options granted will vest on each of

February 21, 2018, February 21, 2019, February 21, 2020

and February 21, 2021.

Each Grantee is neither a director, chief executive or substantial shareholder of the Company nor an associate (as defined under the Listing Rules) of any of them.

By Order of the Board

Hong Kong, February 21, 2017

As at the date of this announcement, our directors are James Joseph MURREN, Pansy Catilina Chiu King HO, Chen Yau WONG, William Joseph HORNBUCKLE and Grant R. BOWIE as executive directors, William M. SCOTT IV, Daniel J. D'ARRIGO and Kenneth A. ROSEVEAR as non-executive directors and Zhe SUN, Sze Wan Patricia LAM, Peter Man Kong, WONG and Russell Francis BANHAM as independent non-executive directors.