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(Image: MGM China)Macau government officials said Friday the move was designed to maintain “social stability and job security” and would benefit their preparatory work to launch the next public tender to grant new licenses. Markets were buoyed by the news. Trusted Online Casino No Deposit Bonus Duzy While SJM and MGM shares were both suspended on the Hong Kong Stock Exchange on Friday, Melco’s stock climbed 4. admiral casino net 7 percent on the news, while Galaxy Entertainment gained 4 percent, Wynn Macau 3. 3 percent, and Sands China 2. 3 percent. Markets Hate UncertaintyInvestors have been unsure what to make of the impending license renewal period, simply because there has never been one before and Macau officials have been slow to explain how the process might play out. oxford casino pub Licenses were awarded during a complex, opaque process in 2002, three years after the enclave had seceded from Portuguese rule. Prior to Macau opening its gaming market to foreign operators, SJM had held a monopoly for decades. Thus, it received an 18-year license because it had a headstart on its new competitors.

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