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.
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