- The stock price of Las Vegas Sands Corp. (NYSE: LVS) increased by over 12% during intraday trading today. This is why it happened.
The stock price of Las Vegas Sands Corp. (NYSE: LVS) increased by over 12% during intraday trading today. Investors are responding positively to a report that the Macau government announced the number of new casino operators allowed to function is going to be limited to 6 concessionaires. But their operating period is going to be halved to 10 years, according to Reuters.
The current licenses of the 6 Macau casino operators — Wynn Macau, Sands China, MGM China, SJM Holdings, Galaxy Entertainment, and Melco Resorts – were all due to expire this year.
“This is a positive outcome and meaningfully reduces Macau license risk and license term risk for Macau operators,” said J.P.Morgan analysts in a research note via Reuters.
The Macau government decided not to proceed with a proposal for a government official to directly supervise the casinos after feedback from the operators.
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