The Hong Kong-listed entities of Macau’s six casino concessionaires all saw their share prices notch gains on Monday, with the three US-based operators – Wynn, MGM and Sands – recording the largest jumps in response to being provisionally awarded new 10-year concessions over the weekend.
As reported by Inside Asian Gaming, the six existing concessionaires beat out a challenge from Genting Malaysia subsidiary GMM to be granted new concessions, which will kick-in from 1 January 2023 pending the signing of contracts before the end of the year.
While the result was widely expected, lagging uncertainty had been seen as a key overhang keeping Macau gaming stocks subdued, with US stocks particularly susceptible given recent Sino-US tensions.
