BUZZ-Sands China jumps most in over 10 yrs as Macau keeps casino licences at six, rivals surge-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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BUZZ-Sands China jumps most in over 10 yrs as Macau keeps casino licences at six, rivals surge

Reuters2022-01-17

** Shares of Sands China lead rally in gaming stocks after Macau retains casino licences limit; stock surges as much as 22.3% to HK$22.40, the biggest daily percentage gain since October 2011

** Stock hits the highest since Sept. 14; the biggest percentage gainer in the benchmark Hang Seng Index and Hang Seng Commerce & Industry Index

** Stock of Wynn Macau jumps as much as 19.1% in the best day since October 2011

** Macau's government announced on Friday the number of new casino operators allowed to function in the world's largest gambling hub would be limited to six with an operating period of up to 10 years

** Shares of Galaxy , MGM China , SJM

, Melco rise between 5% and 8.1%.

** Citi says the regulatory announcement provides new clarity and should remove most investors' key concerns such as dividends, government oversight, minimum shareholding by a Macau permanent resident, gaming tax etc

** Citi raises target prices on the six Macau casino operators by 8%-14% to reflect the removal of the key uncertainty following the government's clarification on the gaming law revisions

** Hang Seng Commerce & Industry Index eases 0.7% and Hang Seng Index slips 0.6%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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