Gaming stocks in major markets New York and Hong Kong posted gains on Friday as they welcomed the possible renewal of licenses in Macau, Bloomberg reported.
- Bloomberg’s indicator of casino operators climbed by as much as 4.8% on Friday, marking the biggest jump in over two weeks since December 7. Among the biggest gainers are Sands China Ltd. and Wynn Macau Ltd.
- Advances were also recorded in US-listed stocks Wynn Resorts Ltd., Las Vegas Sands Corp., and MGM Resorts International, along with Chinese gaming operators Melco Resorts & Entertainment Ltd., Galaxy Entertainment Group, and SJM Holdings Ltd.
- This follows a report indicating support for current operators to have concessions renewed by the expiration of current licenses without major revisions of terms by June 2022.
- The report is not yet final and is still preliminary as it only collates public opinions and is not representative of a final decision by local authorities. Majority of respondents rejected government control over dividends paid to shareholders.
The public comment started on September 15 and ended on October 29. WYNN is up 0.19%, LVS flat, MGM up 0.20%, MLCO up 0.38% premarket; while 1928 closed up 4.73%, 0027 up 2.11%, and 1128 up 8.05%.