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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. chinook winds casino website Markets were buoyed by the news. While SJM and MGM shares were both suspended on the Hong Kong Stock Exchange on Friday, Melco’s stock climbed 4. 7 percent on the news, while Galaxy Entertainment gained 4 percent, Wynn Macau 3. Firekeepers Casino 400 Past Winners Qszu 3 percent, and Sands China 2. sam s town casino directions 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. 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. black oak casino hotel table games at desert diamond casino
MGM China — a joint venture between MGM Resorts International and Pansy Ho, daughter of SJM founder Stanley Ho — was a sub-licensee and piggy-backed onto the SJM license. blackjack tournament online free But the news that the Macau government is intent on preserving “social stabilitno deposit bonus casino october 2021y” — and therefore continuity — has reassured investors, assuaging probably unfounded fears that Macau’s US operators could become collateral damage in the US trade war with China. Sands China, Wynn Macau and MGM China are either wholly or partly owned by US interests. downstream casino weather casino queens new york Big Six Staying PutUnion Gaming Analyst Grant Govertsen said in a note Friday he believes the relicensing process will extend beyond 2022, but the “big six” will remain in Macau. Concessions can be extended by the government for up to five years. “At some point in 2020 the new government and the legislature will begin studying the concessions in earnest, but will likely need a few years to come to any conclusions,” he predicted. “At some point towards the middle of


