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BRIEF-MGM China Holdings Says Sub-Concession Extension Contract Has Been Approved By Macau Govt

March 15 (Reuters) - MGM China Holdings Ltd:

* SUB-CONCESSION EXTENSION CONTRACT HAS BEEN APPROVED AND AUTHORIZED BY MACAU GOVERNMENT AND EXECUTED BETWEEN SJM AND MGM GRAND PARADISE

* MGM GRAND PARADISE SHALL PAY MACAU GOVERNMENT ABOUT HK$194 MILLION UPON SIGNING OF SUB-CONCESSION EXTENSION CONTRACT AS CONTRACT PREMIUM

* SUB-CONCESSION EXTENSION CONTRACT REQUIRES MGM GRAND PARADISE TO SUBMIT BANK GUARANTEE OF NOT LESS THAN HK$796.12 MILLION TO MACAU GOVERNMENT

* MGM GRAND PARADISE EXECUTED AGREEMENT WITH SJM, WHERE MGM GRAND PARADISE WILL PAY SJM HK$19.42 MILLION FOR GAMING SUB-CONCESSION EXTENSION Source text for Eikon: Further company coverage: