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Asia Casino News │ ACN东方博彩新闻

Asia Casino News outlet for Online Gaming and Gambling Industry in Asia.

Macau casino shares rally after gaming law offers reprieve to US companies

January 18, 2022 Earnings & FilingsIndustry Updates

Macau casino stocks shot higher after officials said they would maintain the number of licences available to gaming operators in the territory, ending years of uncertainty for US companies in the Asian gambling hub.

The shares of US casino operators, which investors had feared could lose out if the number of licensees was reduced, were among the biggest gainers in Asian markets on Monday, with Sands China jumping 14.6 per cent, MGM China rising 11 per cent and Wynn Macau up 9 per cent.

On Friday, officials revealed that as part of the territory’s revised gaming law, authorities would offer six casino licences for up to 13 years by public tender when the previous 20-year licences expire in June.

With six large casinos already operating in Macau, analysts expect all of the city’s dominant players to retain their presence in the only Chinese city where casino gambling is legal.

Macau also did not raise its gaming tax as feared, introduce a licensing fee or station a government observer inside big casinos with the capacity to attend board meetings, a relief to beleaguered operators in the territory.

https://www.ft.com/content/ebf985b5-9a83-4282-be60-43dce9168df2

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