Why Macao's Casino Stocks Got Crushed Today

why macaos casino stocks got crushed today

Sumary of Why Macao's Casino Stocks Got Crushed Today:

  • More concerning is potential government restrictions on gambling in the region, which could turn gambling stocks from steady growth stocks to risky bets overnight.
  • So what COVID-19 breaking out in the Fujian province may be a big short-term news item for Macao, but in the long term the real concern for investors should be the government’s potential regulations.
  • 29 in order to get input on what rules gambling concession holders should have to live by.
  • All six concessions expire in June 2022, which the market seems be assuming will be extended.
  • But the rules for concessions may not be the same as they are today.
  • The government is contemplating going from six gaming concessions to two, adding additional oversight, and even putting limits on dividends paid by Macao’s gambling companies.
  • To be clear, there weren’t any new rules announced and we don’t know what the final proposal will be, but investors clearly don’t like what they’re hearing today.
  • Not only is there uncertainty about concessions, we also don’t know what potential regulations might be put in place that might limit revenue in Macao or how future expansion might be impacted.

Want to know more click here go to source.

From -

Generic selectors
Exact matches only
Search in title
Search in content

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.