The stock prices of Hong Kong-listed firms directly linked to Macau casino operations rose in Monday trading, following the Saturday announcement that the six incumbent licensees had each been provisionally selected to get a new, 10-year gaming concession.
The stock price increase ranged from 0.47 percent, for Galaxy Entertainment Group Ltd, which closed at HKD43.05 (US$5.51); to as much as 15.14 percent in the case of Wynn Macau Ltd, and which ended the day’s trading at HKD5.02 per share.
SJM Holdings Ltd was up 6.96 percent, to HKD3.38. MGM China Holdings Ltd rose 13.06 percent, to HKD4.76. Melco International Development Ltd, the Hong Kong parent of United States-listed Melco Resorts and Entertainment Ltd, went up 8.17 percent, to HKD5.43 per share. Sands China Ltd rose 8.42 percent, to HKD18.80.
Nonetheless a number of investment analysts has commented that important detail from the concessions negotiation – including how much each must pledge over the life of the new concession period in operating capital for non-gaming business – was still to be disclosed.
The government confirmed in its Saturday announcement that the new concessions should begin from the start of January.
Sep 22, 2023A number of hotel properties at Macau casino resorts has already sold all or most of the rooms that are available on the open market, for most nights of the upcoming autumn Golden Week holiday...
”This year, so far, we will be starting [revamp] work at Grand Hyatt; then, we are looking at Countdown, and afterwards we will look at Altira and others”
Chairman and chief executive of Melco Resorts