HONG KONG - The number of new casino operators allowed to operate in Macau, the world's largest gambling hub, will continue to be limited to six concessionaires, but their operating period will be halved to 10 years, the Macau government said on Friday .
Shares of casino operators jumped on Friday after the announcement. Las Vegas Sands, MGM Resorts, Wynn Resorts and Melco Resorts climbed between 4 per cent and 13 per cent, leading gains among S&P 500 components. A casino executive familiar with the legislation said the government decided not to proceed with the proposal for a government official to directly supervise the casinos after feedback from the operators.
Casino operators must increase the amount of capital to 5 billion patacas from 200 million patacas and increase the requirement for a Macau based director of the company to hold 15 per cent from 10 per cent.ahead of a 45-day public gaming consultation to gage public consensus over new licences.
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Macau limits new casino licences to 6, to last up to 10 yearsHONG KONG :Macau's government said on Friday that the number of new casino operators allowed to operate in the world's largest gambling hub would be limited to six concessionaires with an operating period of up to 10 years.The announcement, which has been highly anticipated by casino executives, investors and
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Macau limits new casino licences to 6, to last up to 10 yearsHONG KONG :Macau's government said on Friday that the number of new casino operators allowed to operate in the world's largest gambling hub would be limited to six concessionaires with an operating period of up to 10 years.The announcement, which has been highly anticipated by casino executives, investors and
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
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